[DigitalOne]

Originally Posted by m8002?

Looks like they increased the exemption from 2.5 lacs to 5.0 lacs.

Originally Posted by sunilch

This mostly refers to a case where the pay structure is such that the employer is not required to contribute and hence they won't.

This exemption increase from 2.5 to 5.0 is for a small category of EPFO subscribers where the employer is not obliged to contribute. I believe in organizations with less than 20 employees, employer need not contribute their part.

So this exemption increase has no effect on majority of EPFO subscribers.

Originally Posted by V.Narayan

Question for the experts - does this mean we can open a public provident fund account in say State Bank of India and deposit up to Rs 5 lakhs a year into that account and get tax deduction benefit on the deposit as well as tax free interest income? Thanks in advance for your help.

These context is relevant only for EPFO and not for PPF.

[rdst_1]

Originally Posted by DigitalOne

This exemption increase from 2.5 to 5.0 is for a small category of EPFO subscribers where the employer is not obliged to contribute. I believe in organizations with less than 20 employees, employer need not contribute their part.

So this exemption increase has no effect on majority of EPFO subscribers.



These context is relevant only for EPFO and not for PPF.

If you read this article fully, one gets confused as they have stated that it is not where 'employers don't contribute anything'. The increase in exemption also applies to cases where employers contribute the minimum share of 12% of basic pay. It is not applicable in cases where the employer contributes more than 12%.

https://m.economictimes.com/news/economy/policy/govt-raises-pf-threshold-limit-to-rs-5-lakh-for-earning-tax-free-interest/articleshow/81654130.cms

[rbp]

Originally Posted by Manoj2268

In my EPF account, there is a mismatch between the DOJs in the EPF and EPS column.

Is there any way to correct the same?

I had the same issue, you will have to contact the HR person of the organisation for the company which has date issues and get it corrected. Send an email with your uan and pf number they will correct it.

[black12rr]

Originally Posted by NPV

This could be a reason as well.


KYC holds up EPF interest for 4 mn - Link

Interest would be credited every year at what date ? . Anyone received interest this year ( for last year ) ?

[sushantr5]

Dear Members, Does the 3 years rule apply to dormant PF account? My account after moving onsite has been stopped seeing PF contribution. I got interest for 3 years and then interest credit stopped. It has not been credited for 2019-2020 and 2020-2021.

I read that 3 year dormant PF account rule does not apply anymore. I should get interest for all the years whether I contribute or not.

[DigitalOne]

EPFO shenanigans continue. I distinctly remember that I had seen the interest credit for 2019-20 somewhere in late Feb. Unfortunately I didn't download the statement then.

But now when I logged in, I see this message "Note - Dear member. interest for the year 2019-20 has been calculated against your account. To view it in your passbook, please get your KYC seeded against your UAN at the earliest."

And here is the thing when I check it in the EPFO portal, it shows KYC active. Aadhar, PAN are all uploaded and shown as active. EPF account is 15 years old with no change in employment.

Seriously something is wrong with EPFO.

[rajesh1868]

About 3 months back or so I had made a request in https://unifiedportal-mem.epfindia.gov.in/ to transfer my pf from earlier company to my current one.

In the step where I need to choose the employer who needs to attest, I checked the current organization. I had submitted the request but nothing happened till date.

Now when I logged in to check status, though under the 'Track claim status' where I believe transfer status is also supposed to come, it is blank.

So I tried again doing the same steps, but it says that there is a request already submitted for previous account.
Now If I change the attestation to previous employer, this error message does not come.

Few queries:

1) Is it normal to take the transfer status this long?
2) Do I need to submit once more with attestation from previous org?
3) Any other way to check the status, assuming my last submission went fine.

[sdp1975]

Originally Posted by rajesh1868

3) Any other way to check the status, assuming my last submission went fine.

Don't know why the status is blank. But you can check with your current employer. Online transfers usually take 1-2 weeks. I had to submit a signed copy of Form 13 to my employer for the transfer.

[itwasntme]

Submitted a online partial withdrawal request through Form 31 nearly 3 weeks back. Still sitting at Field Office (BGBNG) with no movement and status as 'Under process'.

Any ideas how to check status?

[Oxy]

Effective 1st June 2021, your PF installments won't be credited if you have not completed your Aadhar KYC (as per the video below):

https://youtu.be/908Es9olspw

[rm_arjuna]

Originally Posted by itwasntme

Submitted a online partial withdrawal request through Form 31 nearly 3 weeks back. Still sitting at Field Office (BGBNG) with no movement and status as 'Under process'.

Any ideas how to check status?

escalate again to grievance officer thru same portal ,will be processed within 2-3 days .

[Funny]

So finally I logged a complaint in the EPFO Grievance portal since my transfer request from my previous org to current org was getting denied with no proper reason. Today I got a reply from them saying that I am ineligible for EPS since the EPS scheme was amended with a new rule dated 01.09.2014 (more details) and the employer has wrongly deposited EPS amount in my account.

I have started job in 2015 which makes me ineligible for the same. But interestingly all my employers (3 orgs) have been depositing PF as well as EPS amount (1250/month) all this while. And my transfer request from Org1 to Org3 was processed successfully wherein the PF and EPS amounts were transferred to my latest account. When I tried the transfer from my Org2 to Org3 is when this issue occurred.

Now I am confused, what happens to all the EPS contribution so far? Especially for the ones that were made by my previous Employers. And how do I get this rectified? Do I ask my current employer to stop depositing EPS and instead add that amount in PF contribution? This whole EFPO system is crappy, I have to break my head for my own money.

[DigitalOne]

Originally Posted by DigitalOne

.....To view it in your passbook, please get your KYC seeded against your UAN at the earliest."

And here is the thing when I check it in the EPFO portal, it shows KYC active. Aadhar, PAN are all uploaded and shown as active. EPF account is 15 years old with no change in employment.

Originally Posted by Oxy

Effective 1st June 2021, your PF installments won't be credited if you have not completed your Aadhar KYC (as per the video below):

Update: My name in the EPFO account (<Initial> before <given name>) was different from the name in Aadhar (<Initial> after <given name>). So Aadhaar verification kept failing in the EPFO site.

In these cases, you have to change the name in your EPFO account : Menu --> Manage --> Basic Details). Once you update your name as per Aadhaar, it goes for verification to your employer. Once employer verifies, and EPFO updates their database, then you can go for Aadhaar KYC.

The other details like PAN, Bank account, and passport (not mandatory) follow the same workflow, i.e verification by your employer.

For all the documents verification, including name change, it took me around 9-10 working days.

Happy Kyc-ing .

[naveenvenkatesh]

Has anybody withdrawn from EPF second time due to Covid? EPF has given a second window to withdraw 75% or 3 months basic from EPF. I had submitted 2 requests on 3rd June. However, both were denied saying we have already availed the same earlier. But both withdrawals were in April 2020, last year when the scheme opened for the first time.
Have raised a grievance on their portal. Does anyone know how long it will take to get an answer?
I have any way submitted the request again. Lets see if i get second time lucky

[Gsynch]

The EPFO is likely to credit 8.5 per cent EPF interest by the end of this month. The retirement fund regulatory body kept the EPF interest rate unchanged for FY 2020-21 as there was more withdrawal than deposits during the entire financial year.

https://www.livemint.com/money/perso...197547351.html