The "Provident Fund" Thread

Gsynch · 31st December 2020, 17:50

https://www.ndtv.com/india-news/epfo...dtv_topstories

As we speak the interest has started going into the accounts of at least six crore provident fund subscribers.

Simhi · 8th January 2021, 12:24

It is more than a week and I am yet to see credit of interest. Has any one received interest in their account?

inder · 8th January 2021, 12:49

Quote:

Originally Posted by Simhi

It is more than a week and I am yet to see credit of interest. Has any one received interest in their account?

I too checked twice. Interest still not deposited

xcentrk · 9th January 2021, 14:08

I have withdrawn my PF amount entirely and I got it with the updated interest. I have go both PF + pension credited within 10 days of applying for withdrawal. But in my passbook it is not updated. As mentioned by one of the staff at PF office, the passbook will be updated by 16-Jan.

Fx14 · 9th January 2021, 14:33

Quote:

Originally Posted by xcentrk

I need to withdraw my PF funds. But since my Aadhar and PAN name mismatched. if I try to withdraw I can't get complete amount and 30% will be paid towards tax.

AFAIK withdrawal of PF is taxable if you have completed less than 5 years of continuous service.

If you have completed more than 5 years of continuous service and withdraw on resignation, then the proceeds are tax free.

xcentrk · 9th January 2021, 15:01

Quote:

Originally Posted by Fx14

AFAIK withdrawal of PF is taxable if you have completed less than 5 years of continuous service.

If you have completed more than 5 years of continuous service and withdraw on resignation, then the proceeds are tax free.

Thats why I submitted form-15 to avoid the tax. And now I got the full amount!

Ross · 9th January 2021, 17:17

Quote:

Originally Posted by xcentrk

I have withdrawn my PF amount entirely and I got it with the updated interest. I have go both PF + pension credited within 10 days of applying for withdrawal. But in my passbook it is not updated. As mentioned by one of the staff at PF office, the passbook will be updated by 16-Jan.

Can you please guide me on the process. I also need to withdraw PF and there is name mismatch between UaN and PAN. Thanks in advance.

xcentrk · 9th January 2021, 17:44

Quote:

Originally Posted by Ross

Can you please guide me on the process. I also need to withdraw PF and there is name mismatch between UaN and PAN. Thanks in advance.

Ok. This is what I did.

- Visited the PF office and get a token for Customer Support help.

- Once I went there, I explained my issue and since my tenure is <5 years, they said I have to submit form-15 G to get full amount without 30% tax.

- We should keep Aadhar/PAN/Bank Passbook in our hand so that we can furnish when they need any. If you have given other proofs, make sure to take that as well.

- They will use our login to do the submission by uploading the proofs and file the claim request. That's it. Wait for a week to see the status and at the worst you may get your amount within 20 days.

All in all, it took me good ~45 minutes including the wait time. So not bad! But make sure to reach there before 9am to get things done faster.

If you are thinking about online process, just download the Form-15G, fill it up and submit. But since you have name mismatch I'd suggest you to visit your nearby PF office, just for the sake of peace of mind.

Gsynch · 16th January 2021, 16:49

I have just checked EPF portal and the interest till March 2020 has been credited now. There seems to be a new format for the passbook which makes it easier to go year by year.

itwasntme · 16th January 2021, 19:18

Colleague filed an online application for a house purchase loan from the EPFO. Fellow was amazed to get the RTGS (90% of balance) in his bank account in 4 days flat. Amazing!

bhushan08 · 16th January 2021, 20:12

Quote:

Originally Posted by Gsynch

I have just checked EPF portal and the interest till March 2020 has been credited now. There seems to be a new format for the passbook which makes it easier to go year by year.

I checked my passbook and noticed no interest for this year. Surprisingly, no interest has been credit for last year. THe last interest entry is in March2019. Is this usual?

Gsynch · 17th January 2021, 13:12

Quote:

Originally Posted by bhushan08

I checked my passbook and noticed no interest for this year. Surprisingly, no interest has been credit for last year. THe last interest entry is in March2019. Is this usual?

In my updated passbook, it shows an entry " Interest updated on 31/03/2020".

you can see it on Umang app too.

ajmat · 17th January 2021, 15:08

Quote:

Originally Posted by bhushan08

I checked my passbook and noticed no interest for this year. Surprisingly, no interest has been credit for last year. THe last interest entry is in March2019. Is this usual?

Mine is the same situation

bhushan08 · 17th January 2021, 18:31

Quote:

Originally Posted by Gsynch

In my updated passbook, it shows an entry " Interest updated on 31/03/2020".

you can see it on Umang app too.

Checked. No interest for the last two years. Is there some way to figure out what is going on? All contributions are showing up correctly.

RohitA · 17th January 2021, 23:43

Hi,

I have a query regarding EPF.
I was working with a pvt firm (worked with them for less than 5 years), and left the job in 2017. Now i have joined a government job, and there has been no contribution to that account since March 2017. If i withdraw the full amount (for investment purposes), does the amount get taxed?

31st December 2020, 17:50	#916
Gsynch BHPian Join Date: Jan 2014 Location: Mumbai Posts: 83 Thanked: 284 Times	Re: The "Provident Fund" Thread https://www.ndtv.com/india-news/epfo...dtv_topstories As we speak the interest has started going into the accounts of at least six crore provident fund subscribers.
	() Thanks

8th January 2021, 12:24	#917
Simhi BHPian Join Date: Mar 2010 Location: Pune Posts: 627 Thanked: 1,303 Times	Re: The "Provident Fund" Thread It is more than a week and I am yet to see credit of interest. Has any one received interest in their account?
	() Thanks

9th January 2021, 14:08	#919
xcentrk BHPian Join Date: Mar 2019 Location: Cotton City Posts: 133 Thanked: 741 Times	Re: The "Provident Fund" Thread I have withdrawn my PF amount entirely and I got it with the updated interest. I have go both PF + pension credited within 10 days of applying for withdrawal. But in my passbook it is not updated. As mentioned by one of the staff at PF office, the passbook will be updated by 16-Jan.
	() Thanks

16th January 2021, 16:49	#924
Gsynch BHPian Join Date: Jan 2014 Location: Mumbai Posts: 83 Thanked: 284 Times	Re: The "Provident Fund" Thread I have just checked EPF portal and the interest till March 2020 has been credited now. There seems to be a new format for the passbook which makes it easier to go year by year.
	(1) Thanks

16th January 2021, 19:18	#925
itwasntme Distinguished - BHPian Join Date: May 2007 Location: BANGALORE Posts: 6,986 Thanked: 12,542 Times View My Garage	Re: The "Provident Fund" Thread Colleague filed an online application for a house purchase loan from the EPFO. Fellow was amazed to get the RTGS (90% of balance) in his bank account in 4 days flat. Amazing!
	(3) Thanks

17th January 2021, 23:43	#930
RohitA Newbie Join Date: Mar 2014 Location: Noida Posts: 0 Thanked: 0 Times	Re: The "Provident Fund" Thread Hi, I have a query regarding EPF. I was working with a pvt firm (worked with them for less than 5 years), and left the job in 2017. Now i have joined a government job, and there has been no contribution to that account since March 2017. If i withdraw the full amount (for investment purposes), does the amount get taxed?
	() Thanks