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EPF - transfer or withdraw.

Employees Provident Fund - A Guide

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34 Comments
by
taurus
, 09-19-2008 at 11:08 PM (82012 Views)
          


EPF-FAQ.doc

This is an attempt to give a broad idea about EPF since repeated queries are being raised in this forum on EPF.

An important legal provision guanteeing settlement of claims within 30 days is available under Para 72 (7) of the EPF Scheme as follows:
7) The claims, complete in all respects submitted along with the requisite documents shall be settled and benefit amount paid to the beneficiaries within 30 days from the date of its receipt by the Commissioner. If there is any deficiency in the claim, the same shall be recorded in writing and communicated to the appli*cant within 30 days from the date of receipt of such application. In case the Commissioner fails without sufficient cause to settle a claim complete in all respects within 30 days, the Commissioner shall be liable for the delay beyond the said period and penal interest at the rate of 12 per cent per annum may be charged on the benefit amount and the same may be deducted from the salary of the Commissioner.]
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Updated 01-29-2009 at 10:36 PM by taurus (adding info)

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Comments

  1. ganpat1956's Avatar
    Thank you very much for this comprehensive info on EPF matters. I am sure this will serve as a source of valuable reference to all our members.
  2. jps50's Avatar
    Nice attempt, Sir Thanks
  3. ambrish.p's Avatar
    Sir, Thanks a lot.
    regrds
  4. arunbarathi's Avatar
    I have the EPF number for last 4 & 1/2 years. now i want to know my EPF balance amount till now.

    My EPF No: KN/34110/589

    and addition to this - can I get any loan amunt within my EPF like insurace policies
  5. taurus's Avatar
    Please go through the details given in the blog above. You will get the answers.
  6. amitb_77in's Avatar
    The grievance forum does not help much. I had raised a complaint CEPFO/E/2008/00027 regarding my PF transfer 5 months back. The Delhi office quickly transferred the query to the Pune office since this was a matter in Pune office. But it has been with the PF Comissioner Pune since 27th June 2008. No action has been taken since then. Let me know what I should do.
  7. taurus's Avatar
    I think you have no other alternative than to file an applcation under RTI for which you may visit the blogs of jps50.
  8. tvkrishnam's Avatar
    RBI has recently instructed banks and mutual funds to contact owners of dormant/inactive accounts. Is it also not applicable to EPF?
    Should EPF not inform beneficiary when beneficiary attains the age of 60 years?
  9. taurus's Avatar
    Presumably the RBI circular that u r quoting pertains to bank accounts only. Not EPF account. The EPF account is held in trust. It cannot be misappropriated that easily. EPF organisation does not intimate the account holders after they attain the age of 60. They have no such duty. It is for the subscriber to make an application for withdrawal. If he is no more his nominee or legal heir can make the application.
  10. kanha.jee's Avatar
    pl.provide me details about my pf account balance amount, not about claim settlement/status.
  11. taurus's Avatar
    Kindly see the attached file 'EPF balance and transfer' in the blog 'EPF - a guide'. You will get the answer in the very second para.
  12. nandansingh's Avatar
    I have the EPF number for last 10 years. now i want to know my EPF balance amount till now.

    My EPF No: DL/17644/6
  13. nandansingh's Avatar
    have the EPF number for last 10 years. now i want to know my EPF balance amount till now.

    My EPF No: DL/17644/6
  14. nandansingh's Avatar
    I have the EPF number for last 10 years. now i want to know my EPF balance amount till now.

    My EPF No: DL*17644/6

    and addition to this - can I get any loan amunt within my EPF like
  15. taurus's Avatar
    Regarding EPF balance please see my blog entry - EPF balance on-line.
    You can take loan from your EPF. This blog itself gives all the details. Please go through that.
  16. rathin20092010's Avatar
    I want to know my PF Balance - help me
  17. taurus's Avatar
    Regarding EPF balance please see my blog entry - EPF balance on-line.
  18. kumsai71's Avatar
    LITERALLY ALLTHE PROCEDURES ARE NOT TRANSPARENT. AT MY COLLEGE MAAMALLAN INST OF TECH PEOPLE ARE NOT PROVIDING A BALANCE STATEMENT FOR EVERY YEAR. WHEN WE APPROACHED EPF OFFICE THEY SAY THE AMOUNT IS DEPOSITED BUT THEY WILL NOT DISCLOSE THE AMT FIGURE. AS YOU KNOW THE COLLEGE GUYS HAVE HANDS WITH EPF GUYS. ONLY THE DAYS THESE GOVT FOLKS TRANSPARENCY THESE THINGS WILL NOT CHANGE HY NOT THEY PROVIDE ONLINE FACILITY TO KNOW INDIVIDUAL ACCOUNT BALANCE
  19. taurus's Avatar
    It is the responsibility of the EPF office to provide you the annual statement. If they fail to do so you can file an application under RTI and ask for the statement.
  20. jayshree's Avatar
    hi
    my friend has got a job aboard and wants to withdraw the PF amount.
    1)Is that PF amount taxable
    2)if she doe snot withdraw the amount will she get the interest on the amount?
  21. taurus's Avatar
    1. No.
    2. Yes.
  22. yellowstar2007's Avatar
    That's very much helpful info.Many thanks.
  23. singhpk's Avatar
    I a working in a private organistaion since 2003. but the company has started deducting the PF form Feb 2007 only. Since two years I have not recieved any statement from EPF office or from the company. When I approched to my office even they are not in position to say what is the total contribution of PF in my account.I really got the doubt weather they contribute any PF or not.

    My PF No is. KN/BN/35855/35 - BANGALORE
  24. taurus's Avatar
    There may be several reasons for not getting the annual account statement. One reason may be that the company is not remitting the amount to the RPFC. You may write a complaint to the RPFC and ask for the issue of the statement. That will clarify the position. If you dont receive any reply from the RPFC within a reasonable time, say, one month, you may file an application under RTI asking him for details of action taken on your complaint.
  25. sateesh pendyala's Avatar
    I have the EPF number for last 4 & 1/2 years. now i want to know my EPF balance amount till now.

    My EPF No: TN/514451045 CHENNAI

    and addition to this - can I get any loan amunt within my EPF

    MAIL TO sateesh_july@yahoo.co.in
  26. taurus's Avatar
    Mr Sateesh Pendyala,
    You can take loan or advance from your EPF account for specified purposes if you fulfil certain conditions. These are explained in my blog. If you view my link EPF-FAQ.doc you will get all the details. You will be able to know your balance from the account statement given to you. You have to up-date it yourself from your records. Otherwise you may approach the RPFC concerned.
  27. pvs1950's Avatar
    i think that the epf authorities should take necessory steps
    to overcome the difficulties of its members by sending them
    an annual statment showing every transactions during the year.this should make mandatary.suitable punishment should
    given to the erring staff if they fail to deliver the above.
    pvs.menon
  28. rashmisubu's Avatar
    to whom do i address the RTI in case of EPF? i changed my job 2 yrs back and when i joined the new company i did not transfer the PF. For the past 5 months i have been running around to the old office to get my PF withdrawn as i am in need of money but they say it will take another 2-3 months( for the past 5 months....2-3 months are going on).
  29. taurus's Avatar
    If you have already submitted your withdrawal form to the ex-employer, check up whether he has forwarded it to the concened EPF office. If he has forwarded, you have to file the RTI petition with that EPF office, calling for the status of your claim. If the employer has not forwarded the application to the EPF office and is simply keeping it with him, then you can file a complaint to the EPF office concerned for taking action against the employer.
  30. shyamsundar82's Avatar
    Your answer simply shows that ,there is no use of making 'Government departments' to be computerized. because there will be no direct answers to the Beneficiaries or to the citizens.
  31. taurus's Avatar
    Dear Shyamsundar82,
    Please clarify which of my answer you are referring to so that I can react.
  32. rohagr's Avatar
    Hi,

    I left the organisation Transgraph Consulting Pvt Ltd on 31st Jan '09. I need my PF amount but the company is not submitting the PF form to the PF office. Please suggest me what should I do.

    My PF A/c No. is AP/HY/53355/78
  33. taurus's Avatar
    Dear Rohagar,
    You may file a complaint with the Regional Provident Fund Commissioner, hyderabad. If no action is taken on the complaint within a reasonable time of, say, three weeks, you may file an application under RTI.Please send all communications through Registered Post and keep copy/records.
    muktaanilpathak Recommends this.
  34. taurus's Avatar
    You might have got the yearly account statements. The last one will show the balance on the last day of the financial year concerned. Otherwise, you can make an application to the Regional Provident Fund Commissioner concerned under RTI to provide you the information.

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