[Yieldway17]

Originally Posted by Scarlet_Rider

The request was raised online on 14th January 2023 and accepted by employer on 16th January 2023. The current status shows as 'Accepted by employer-> pending at field office'.

Good luck. I have requested for transfer two times and both times they rejected after the above status you mentioned. The text message said the reason will be available in the portal but nothing there. I'm really annoyed about this incompetent organization for which I didn't have an option to not put my money in or get it out.

[shashant]

Now with site showing taxable contribution as well. Do we need to pay taxes each year on interest or only on withdrawal.

[deehunk]

Originally Posted by Yieldway17

I'm really annoyed about this incompetent organization for which I didn't have an option to not put my money in or get it out.

The whole financial system of the country is in incompetent hands, in my case both my previous employer and the related EPFO have been involved for 6 months now to rectify their fundamental mistakes. My ex-employer Applied Materials has a finance and HR team who are clueless about the functioning of EPFO.

[anandtheleo]

Originally Posted by shashant

Now with site showing taxable contribution as well. Do we need to pay taxes each year on interest or only on withdrawal.

My understanding was that only the interest part of the taxable component is taxed and that when the full year interest is credited on the full corpus the taxable component will be minus of that. I don't think we need to pay any advance tax on this.

But I could be wrong too.

[bluevolt]

I applied for PF transfer over EPFO website one claim link from my previous organization who was having regional provident fund office maintaining trust to my current organization with their own trust.

I see my request status as 'Accepted by field office' and it took a week only for this to change from 'Pending attestation from current employer' when I raised last Monday.

What would be the next step here? I still can't see Annexure K generated in portal so I download it and handover to my current organization to sync up my PF balance.

[rx100]

Regarding the concerns on interest not showing on statement, I think it depends on the PF office. The interest for last year is yet to reflect on my passbook, but it showing up on my wife's passbook. Also I believe the interest would be applicable from the beginning of last FY and same would be considered while calculating for next year’ interest, so compounding effect will always be there.

For the past few months, I have transferred one of my PF account to current organization and also withdrew my father’s PF account. In both the cases, applicable interest component effective from April 1, 2021 were included with PF transfer amount, even though it was not showing up on the statements generated before applying for transfer/ withdrawal.

Originally Posted by Scarlet_Rider

Any idea what is the turn around time for a transfer request from previous employer to present employer? The request was raised online on 14th January 2023 and accepted by employer on 16th January 2023. The current status shows as 'Accepted by employer-> pending at field office'.

Originally Posted by bluevolt

I applied for PF transfer over EPFO website one claim link from my previous organization who was having regional provident fund office maintaining trust to my current organization with their own trust.

I see my request status as 'Accepted by field office' and it took a week only for this to change from 'Pending attestation from current employer' when I raised last Monday.

What would be the next step here? I still can't see Annexure K generated in portal so I download it and handover to my current organization to sync up my PF balance.

I transferred my PF amount from previous employer to current employer last July and it got transferred within 1 or 2 months I believe. There was no other action required from side and it automatically reflected on the passbook. I raised the claim under One Member option and attested through current employer. In my case it was through PF office and not maintained by trust.

Originally Posted by shashant

Now with site showing taxable contribution as well. Do we need to pay taxes each year on interest or only on withdrawal.

From last year budget, if the employee contribution is above 2.5L per annum, then the interest component of the excess amount is taxable. You can read more here
https://cleartax.in/s/epf-interest-t...eding-2-5-lakh

[vinit.merchant]

Not sure if I can post PPF queries here too, but I am facing a peculiar problem with my ppf account with SBI (hate it but these were the only options available 15 years back)
I renewed my PPF last year for another 5 years, but after renewal, I am unable to make online contributions to my account.
Visited branch multiple times and even tried to deposit cash once, on recommendation the branch manager. Cash deposit went through and reflects on passbook, but online transfer returns as "unsuccessful due to issue at recipient bank".
Before the renewal, i always did online transfers without any issues and all got properly deposited.

Anyone knows what this issue can be and how it can be fixed?
I have lost hope from the SBI staff, and if it doesnt work out, i am thinking to take NOC from SBI and transfer account to one of the private banks (ICICI or HDFC)

[Chetan_Rao]

Originally Posted by vinit.merchant

...

Anyone knows what this issue can be and how it can be fixed?

Check two things:

1. Whether your CIF# (SBI's customer identifier) has changed on the renewed PPF account.

2. Whether the PPF account still shows up under active accounts on your online banking profile. They sometimes randomly disable online banking (happened to my father recently when he transferred his SBI account between branches). The account works offline, but online transactions fail.

[shashant]

Originally Posted by rx100

From last year budget, if the employee contribution is above 2.5L per annum, then the interest component of the excess amount is taxable. You can read more here
https://cleartax.in/s/epf-interest-t...eding-2-5-lakh

Thanks for the link. If it is coming under form16 then tax would be deducted from the salary?

[rx100]

Originally Posted by shashant

Thanks for the link. If it is coming under form16 then tax would be deducted from the salary?

PF interest will not comes under Form 16 as it shows only employer related income. TDS of 10% will be deducted by PF dept on the interest you earned above 2.5L annual contribution, and gets deducted while carry forwarding to next year or while withdrawing.

[thanixravindran]

Originally Posted by vinit.merchant

Not sure if I can post PPF queries here too, but I am facing a peculiar problem with my ppf account with SBI (hate it but these were the only options available 15 years back)
I renewed my PPF last year for another 5 years, but after renewal, I am unable to make online contributions to my account.

Anyone knows what this issue can be and how it can be fixed?

Have you chosen the option to extend PPF with contribution? I think you need to submit a form to extend with contribution else by default the extension is without contribution.

[SoumenD]

While trying to login to UAN passbook portal it said my password had expired. Went to member home portal and changed it. But once I come back to UAN Passbook portal now it says invalid id/pass? Same Id/pass works fine for UAN Members Portal. Is there a lag in updating the credentials between these portals?

[thanixravindran]

Originally Posted by SoumenD

While trying to login to UAN passbook portal it said my password had expired. Went to member home portal and changed it. But once I come back to UAN Passbook portal now it says invalid id/pass? Same Id/pass works fine for UAN Members Portal. Is there a lag in updating the credentials between these portals?

Yes, 6 hours is the recommended wait time for sync up. I suggest wait for at least a day to avoid issues.

[vinit.merchant]

Originally Posted by Chetan_Rao

Check two things:

1. Whether your CIF# (SBI's customer identifier) has changed on the renewed PPF account.

2. Whether the PPF account still shows up under active accounts on your online banking profile.

Don't know what point 1 is, will get that checked at branch. I did change my branch 3 years back but continued the online contribution from another bank and faced no issues, till I got it extended.

On point 2, I do not have any other account in SBI and hence do not have online access to my PPF account.

Originally Posted by thanixravindran

Have you chosen the option to extend PPF with contribution? I think you need to submit a form to extend with contribution else by default the extension is without contribution.

Yes, I had filled and given them a form for extension with contribution. Funny that they themselves weren't aware of it and insisted that no form is needed and it will be extended automatically. Went through a hard time just to get them accept the extension form.
Moreover, it accepted the cash deposit, so this doesn't seem to be an issue.

[Fx14]

Originally Posted by vinit.merchant

I renewed my PPF last year for another 5 years, but after renewal, I am unable to make online contributions to my account.
Visited branch multiple times and even tried to deposit cash once, on recommendation the branch manager. Cash deposit went through and reflects on passbook, but online transfer returns as "unsuccessful due to issue at recipient bank".
Before the renewal, i always did online transfers without any issues and all got properly deposited.

Anyone knows what this issue can be and how it can be fixed?
I have lost hope from the SBI staff, and if it doesnt work out, i am thinking to take NOC from SBI and transfer account to one of the private banks (ICICI or HDFC)

Hope you don't end up jumping from the frying pan to the fire, basis your proposed course of action.

Note that the private banks had started conducting PPF related business relatively recently as against the PSU banks that were obliged to do so from inception. Issues of product knowledge will be much more in the new generation banks for such accounts, which could come back to haunt you while wanting to extend / close the account / claim the maturity amount.

As a solution to your specific issue, suggest that you deposit cash / clearing cheque once a year for the entire amount you wish to contribute for the F.Y., thus limiting yourself to the inconvenience of just 4 more transactions till maturity.