EPF Inoperative Accounts
Before two years , the epf announced about the so many lakhs of inoperative accounts, dormant in the EPF offices. but what was the step taken by EPF offices in this regard to settle the amount to the concerned EPF subscribers. Don't blame the EPF subscribers for not claiming the amount, as there are some problems with them or their heirs , that's what the account is lying inoperative. but what was the EPF is doing to settle the amount. they just created a facility to register the inoperative accounts. are they followed up periodically to close the accounts with the registered persons? what was the step to close the accounts, who have not registered? any how the inoperative account must have some details, like name, institution address, home address or something. why cant they are not able to trace with the available details. if no details are available with the EPF, then how they collected so much amount from the subscribers. is this their standard of maintaining the records?. more
Viewed by 820
View all 7 comments Below 7 comments
Send me the EPF account details, and I will try to get the refund of the period. Send me self attested copies of the yearly account returns, particularly the last one indicating your contributions. Is it contributory provident fund account? If yes, give details of the employers name & address and the contact details along with their registration number with EPFO. My email id is: gcmbinty@yahoo.com, and Mobile: 9910338312. You may call me up after 05.30PM on any day, when I am generally available. It is also for the information of participants here that the Government of India in 2015 amended The Finance Act 2015 and created a Chapter VII with the title "Senior Citizens' Welfare Fund" by violating the fundamental rights where the entire unclaimed personal money of consumers whether as a provident fund or insurance premium that are not at all the revenue or tax income of the Government. You would be knowing that The Finance Act is prepared as a Bill every year with budgetary proposals based on the revenue/taxes earned in the relevant year. You will appreciate, why it is illegal and against the fundamental rights is because. This issue is under challenge now by me for which the case is being filed in a day or two. more
Dec 12
If you are asking EPFO to do the job of their own, then your expectation is really very high....my experience is different.....you will experience it when you try to transfer the fund and see after 4/5 years that the job has not been done.....there is no account statement or any annual feedback.....Regards On Tue, 13 Nov 2018 05:48:50 +0530 "Sugirtha Kumar" wrote > more
Nov 13
EPF amount are supposed to be settled within six months of retirement or termination of service. Even if there is no claim, the amount to be settled to the individuals or their nominees from the available sources of information on records. My son resigned from the job of IBM some ten years back, neither EPF nor IBM least bothered to settle the hard earn savings. more
Nov 13
Simply put EPFO is not serious about this, not only this anything which benefit the subscribers they put hurdles, they believe putting hurdles is their duty. take the case of 2016 October supreme court order on enhanced pension on salaries above ceiling salary limits, till today no concrete steps have been taken by EPFO except sending routine circulars to their branch offices & send reminders when they find branches are not paying heed to their circulars. EPFO even dragged on by wrongly interpreting that the SC order is not applicable to exempted establishes ( establishes which manage their employees EPF). Most sensible thing for a pro active EPFo to do is calculate the amount to be paid to EPFO by subscribers towards the difference to be paid & intimate subscribers their monthly pension entitlement & arrears they will be eligible on paying the difference, better still urge subscribers to pay the difference between amount to be paid back to EPFO & arrears they are eligible. more
Nov 13
It is good to collect the employee's bank details along with Form-2 in the beginning itself, so that when employee resigns without leaving the proper communication address, this bank details will help the EPF to close the PF account . more
Nov 13
