Dear sir, I have transferred my previous company's PF to my present company account using Form 13. The PF amount has been settled as follows: Employee Share Rs. 39,015, Employer Share Rs. 12,124, and Pension Fund Rs. 0.00. I have a query regarding my Pension Fund showing an amount of Rs. 0.00. Could you please explain this discrepancy? I have attached my e-passbook for your reference.
Thank you.
Regards.
From India
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Thank you.
Regards.
From India
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In India, when transferring your Provident Fund (PF) from a previous employer to a new one, the amount allocated to the Pension Fund may sometimes show as Rs. 0.00 due to certain factors. Here are some reasons for this discrepancy and what you can do:
1. Pension Fund Contribution: The Pension Fund is a separate component of the PF and may not always get transferred along with the PF balance. In some cases, depending on the rules of the Employees' Provident Fund Organization (EPFO), the Pension Fund amount may not be transferred.
2. Service Eligibility: The Pension Fund is primarily a pension scheme, and eligibility criteria apply. If you have not completed the minimum service period required to be eligible for the pension, the amount may reflect as Rs. 0.00.
3. EPS Scheme: The Employee Pension Scheme (EPS) under the EPFO has specific rules for pension eligibility. If your service period or other criteria do not meet the EPS requirements, the Pension Fund amount may not show in your transferred balance.
4. Verification: To address this issue, you can verify your service history with the EPFO to ensure that your pension details are correctly updated. You can also reach out to your current employer's HR or the EPFO office for clarification on the Pension Fund amount discrepancy.
5. Resolution Steps: If you find any discrepancies or if you believe that the Pension Fund amount should not be Rs. 0.00, you can raise a grievance with the EPFO through their online portal or by visiting the nearest EPFO office. Provide all necessary documents and details for a thorough review of your case.
It's essential to understand the specific rules and guidelines of the EPFO regarding the Pension Fund to determine the accuracy of the transferred amount.
From India, Gurugram
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541. Pension Fund Contribution: The Pension Fund is a separate component of the PF and may not always get transferred along with the PF balance. In some cases, depending on the rules of the Employees' Provident Fund Organization (EPFO), the Pension Fund amount may not be transferred.
2. Service Eligibility: The Pension Fund is primarily a pension scheme, and eligibility criteria apply. If you have not completed the minimum service period required to be eligible for the pension, the amount may reflect as Rs. 0.00.
3. EPS Scheme: The Employee Pension Scheme (EPS) under the EPFO has specific rules for pension eligibility. If your service period or other criteria do not meet the EPS requirements, the Pension Fund amount may not show in your transferred balance.
4. Verification: To address this issue, you can verify your service history with the EPFO to ensure that your pension details are correctly updated. You can also reach out to your current employer's HR or the EPFO office for clarification on the Pension Fund amount discrepancy.
5. Resolution Steps: If you find any discrepancies or if you believe that the Pension Fund amount should not be Rs. 0.00, you can raise a grievance with the EPFO through their online portal or by visiting the nearest EPFO office. Provide all necessary documents and details for a thorough review of your case.
It's essential to understand the specific rules and guidelines of the EPFO regarding the Pension Fund to determine the accuracy of the transferred amount.
From India, Gurugram
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PF guidleines for Pension fund.pdf