Lots of our readers who began working after Sep 2014, have Fundamental wage above 15,000 and have utilized for switch of their EPF account or claimed their EPF withdrawal have confronted rejection from EPFO as proven within the picture beneath. What’s the purpose for the Rejection? What will be achieved about it?
EPF Switch and Withdrawal declare was rejected as primary wages greater than 15,000
An answer for Wage greater than 15,000 and EPF downside which could work?
Our reader, Jobin, has instructed an answer to the issue. His remark, given beneath, is reproduced right here. Respect him sharing with all of us. Have raised it on Twitter right here, Protecting my fingers crossed.
The Worker must comply with up for no fault of his. Sure, it sucks however you could struggle out to get your cash.
And To your subsequent job be sure that your complete Employer contribution goes in the direction of EPF. Do unfold the message in your social media about the issue. It’s also possible to tag us at bemoneyaware.
The answer instructed by EPF is “You might be suggested to method the employer for rectifying the identical by submitting revised return to the EPFO for merging the EPS contribution to EPF”
Good day all,
I’m additionally dealing with the problem in PF switch as a result of purpose that my primary wage is above 15000 once I began the job. After operating from pillar to publish for round 2 years, lastly, I discovered an answer for this challenge. I wish to publish the identical right here for the advantage of all. Request @Bemoneyaware to replace in your article.
The answer is that
Step 1) the earlier employer (who remitted EPS) has to despatched a request to EPFO to merge each EPS and EPF accounts.
Step 2) The EPFO will be capable of course of the EPS and EPF merger primarily based on this request
Step 3) Lastly the member can have solely EPF account. Then one will be capable of switch the EPF account to present employer.
Presently accomplished Step 1 and awaiting Step 2 to be accomplished.
You might need to comply with up
Take the letter from the employer for rectification & submit it to the EPFO workplace for merging the accounts.
Repeatedly elevate the grievances on the portal for this rectification. this may put some stress on the EPFO workplace.
Nonetheless dealing with the problem, then merely elevate the RTI utility with detailed questions & ask for the explanation for the delay. (RTI utility price is simply Rs.10). They must reply to the RTI inside 30 days.
Understanding the EPS Contribution
For brand spanking new members becoming a member of the EPF scheme on or after 1 September 2014, the contribution is required to be made solely underneath the PF and insurance coverage scheme – as such staff aren’t eligible for membership underneath the pension scheme.
New EPF members enrolled on or after September 1, 2014, and having a wage of greater than INR 15,000 month on the time of becoming a member of, won’t change into members of the EPS. Accordingly, your entire contribution of 24% (from the worker and employer) will go to the provident fund account of the worker. The picture from the Doc on EPF web site is proven beneath
EPS Contribution EPF doc
How the EPF, EPS Contribution is calculated
- 12% of Worker’s Fundamental and Dearness allowance goes to EPF.
- 8.33% of Employer contribution for Wage lower than 15,000 and a most restrict of 1250 goes in the direction of EPS.
- Remaining 3.67% of Employer contribution goes to EPF.
- If Worker Fundamental and DA are greater than 15,000 then complete Employer contribution ought to go to EPF.
The next desk reveals the EPF, EPS Contribution for workers who joined earlier than and after 1 Sep 2014 and have a Fundamental wage greater than 15,000
Employer-Worker Contribution in EPF EPS
Who’s at fault for EPS contribution for Worker with Fundamental greater than 15,000?
Each employer and EPFO.
But additionally the worker, as a result of
- he faces the issue throughout Switch or Withdrawal
- and misses out the curiosity additionally as some a part of his wage, is diverted to EPS which doesn’t earn curiosity.
Employer and EPFO each know the becoming a member of date of the worker within the firm. The Challan which employer submits to EPFO has UAN quantity, Identify of Worker, Fundamental Wage and EPF calculation as proven within the picture beneath. Nevertheless it doesn’t have the becoming a member of date.
EPF Employer ECR Challan
Video of Employer producing EPF Challan
The Video beneath reveals how does employer makes ECR Challan, Uploads it in EPF web site for Employer.
What will be achieved as soon as Worker realizes that there’s EPS Contribution?
The Worker must comply with up for no fault of his. Sure, it sucks however you could struggle out to get your cash. To your subsequent job be sure that your complete Employer contribution goes in the direction of EPF
We’re on the lookout for the answer, are in talks with many EPF consultants. Among the options by our readers which have met some success are given beneath. We respect the efforts of our readers, Jobin & Yash. When you have discovered every other workable resolution do tell us.
The answer instructed is “You might be suggested to method the employer for rectifying the identical by submitting revised return to the EPFO for merging the EPS contribution to EPF”
Step 1) the earlier employer (who remitted EPS) has to ship a request to EPFO to merge each EPS and EPF accounts.
Step 2) The EPFO will be capable of course of the EPS and EPF merger primarily based on this request
Step 3) Lastly the member can have solely an EPF account. Then one will be capable of switch the EPF account to the present employer.
You might need to comply with
Take the letter from the employer for rectification & submit it to the EPFO workplace for merging the accounts.
Repeatedly elevate the grievances on the portal for this rectification. this may put some stress on the EPFO workplace.
Nonetheless dealing with the problem, then merely elevate the RTI utility with detailed questions & ask for the explanation for the delay. (RTI utility price is simply Rs.10). They must reply the RTI inside 30 days.
We now have raised this challenge with EPFO on social media. We now have added it in our Change.org petition. Will preserve individuals up to date.
Bemoneyaware criticism on Twitter
When you have a suggestion please do tell us.
What you are able to do,
To your subsequent job be sure that your complete Employer contribution goes in the direction of EPF
