Subject: Regarding Non-Deposit of Employer's Share of EPF - Trust A/c to PUNSUP A/c No.
A General Manager (F&A), PUNSUP, Chandigarh, had rendered 11 years of service in the Punjab State Co-operative Agricultural Development Bank. He was relieved from this office and joined the Punjab State Civil Supplies Corporation Ltd. (PUNSUP), Chandigarh, as General Manager (Finance & Accounts) through the proper channel. He had repeatedly written to this organization about the non-deposit of the employer's share in his EPF account.
He requested to deposit his employer's share of EPF lying with the bank in the PUNSUP EPF account. In view of the above, it is submitted here that, as per the records available, the said ex-employee had joined service with the Bank on 20.12.2001. He was promoted to AGM on 18.01.2011, and thereafter, the said ex-employee expressed a desire to apply with PUNSUP for recruitment and service in terms of the advertisement issued by PUNSUP. Consequently, an experience certificate was issued to him on 19.05.2011, and he further requested to be relieved from the services of the Bank on 16.06.2012. He was relieved from the service of this bank on 20.06.2012.
At that time, a pension scheme was implemented in this bank, and as per the pension scheme, 20 years of service or retirement on superannuation was required to be eligible for the payment of a pension under the pension scheme.
Questions Regarding EPF Transfer
How much of the employer's share is to be transferred, if any? What is the procedure for the transfer?
From India, Jalandhar
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A General Manager (F&A), PUNSUP, Chandigarh, had rendered 11 years of service in the Punjab State Co-operative Agricultural Development Bank. He was relieved from this office and joined the Punjab State Civil Supplies Corporation Ltd. (PUNSUP), Chandigarh, as General Manager (Finance & Accounts) through the proper channel. He had repeatedly written to this organization about the non-deposit of the employer's share in his EPF account.
He requested to deposit his employer's share of EPF lying with the bank in the PUNSUP EPF account. In view of the above, it is submitted here that, as per the records available, the said ex-employee had joined service with the Bank on 20.12.2001. He was promoted to AGM on 18.01.2011, and thereafter, the said ex-employee expressed a desire to apply with PUNSUP for recruitment and service in terms of the advertisement issued by PUNSUP. Consequently, an experience certificate was issued to him on 19.05.2011, and he further requested to be relieved from the services of the Bank on 16.06.2012. He was relieved from the service of this bank on 20.06.2012.
At that time, a pension scheme was implemented in this bank, and as per the pension scheme, 20 years of service or retirement on superannuation was required to be eligible for the payment of a pension under the pension scheme.
Questions Regarding EPF Transfer
How much of the employer's share is to be transferred, if any? What is the procedure for the transfer?
From India, Jalandhar
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I didn’t understand the matter clearly Was the PF under a trust? Or is it under Central PF?
From India, Mumbai
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2508From India, Mumbai
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Under a trust, after his resignation, the amended pension scheme was abolished. The employee is asking for a transfer of the entire employer's share of Rs. 566,712. Out of this, an estimated amount of Rs. 68,707 had already been deposited as a pension fund under EPS 1995 with the office of RPFC in Chandigarh.
From India, Jalandhar
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From India, Jalandhar
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