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-   -   The "Provident Fund" Thread (https://www.team-bhp.com/forum/shifting-gears/46474-provident-fund-thread-74.html)

You can start it the moment your new firm payroll starts. Lots of issues in online transfers. Mine got rejected thrice in last 1.5 years and finally got settled last week. If this is your first switch, it shouldn’t be an issue but if you have had transfers earlier try to collect some Annexure-K for EPF & EPS. Moreover make sure father’s name is same. These were few of the points based on which my transfer requests were rejected multiple times. I seriously don’t get the point of UAN if all firms assign a new PF number and we have to go through this hassle of transfers :Frustrati

P.S: If your previous employer gives additional interest on top of government rates(few Indian firms give 0.5% extra), you can let it sit there for 3 years to accumulate that much money interest. If they stick to government rates, don’t bother and start the process right away :)

I follow 2 month rule. After joining a new Org / Company, we generally get the new PF no. updated in second month payslip. After this I start the transfer process. Did it three time so far and as recent as July 2021.Approximate timeline for transfer is 2 weeks and happens without any hassles or follow-ups.

Has anyone been successful in adding E-Nomination from the EPFO site. I have not been successful in uploading the picture irrespective of what I do.

File size less than 100kb?

Yes it is around 92 KB and the extension is .jpeg

Can you eloborate what happens post addition of the file? There is an auto screening done on the image (some 80% of the image should be of the face or something on those lines).
In my case the image would get uploaded and submit would fail - happened a few times - primarily due to the atrocious backend EPFO has. If you are facing a similar issue, only solution is perseverance (and as mentioned by others at odd, non-office hours)

I enter all the details as asked for and then select the link which says "Click Here to Upload Photograph" which opens up a a new sub-window. I select the photo and it shows me the preview and then I upload the photo and close the sub window and then accept the family consent and then press "Save Family Details".

But then I get the message "Nomination Photo is Required" in red in the Photo section.

Have tried probably close to 20 times and get the same message.


Latest update: Editing after posting the above message.

Finally succeeded in uploading the photo.

Can anyone please tell me how do I get the DOE EPF and DOE EPS updated for my previous employer on the EPFO portal? I am unable to initiate transfer of PF to my current employer as my previous employer's DOE is not yet available in EPFO portal.
Attaching pic for reference.

Follow these steps

.

Thank you very much. I always thought we couldn't do It ourselves. I tried it and it doesn't allow for now since it since I have to do it 2 months after last credit but my previous employer. So I will have to wait a month or so before I can attempt to mark the exit again.

EPFO interest rate for this year has been proposed to be 8.1% by the board trustees, the lowest since 1977-78. While a lower rate was expected considering the low repo rate and bond yields, a 0.4% decrease is still surprising.
Link

Since elections are now over here comes the first gift to the people.

https://youtu.be/eql11k2ZbSg

When you look at election results you will know why the ruling party wins despite such measures. There is at least 60% of population(mainly woman) who can be satisfied by just providing free ration. This is what armchair critics miss in the scale of such victories. They are not affected by fuel price hikes, tax hike or pf rate cut. All these money will go to fund such welfare measures and get votes. Sadly this is the reality in alternate India.

Actually as a follower of markets I find that this rate itself is absurdly high! Where else does one get such a return that too tax free? FD's, Bonds etc post tax are much much lower.

Are we upset over or grudging the government providing food subsidy/ration to the poor?

Higher EPFO rates are a subsidy to the salaried class by the government. This could be due to higher tax compliance, think TDS. I am sure no one thinks of it in this manner but that is what it is. The justified rate would be much closer to 7% just above the 10 yr government bond yield. Yes some amount is invested in markets just about 15% of incremental corpus. With the way stock markets are falling, that additional return too will be impacted.

I think this is prudent economics. While I too would be personally benefited with a higher rate of return (notwithstanding that we are taxed for excess contribution and interest) I can understand where the government is coming from. I would not be surprised if rates fall further next year!!

Sorry, I was highlighting the always cribbing mentality of the upper middle class sitting in their armchairs. I welcome any move if the tax I pay is reaching the poorest of the poor. The current dispensation is making sure that the benefits are not eaten by middlemen.