Festive Savings Are Here. Get 10% OFF on All CCI Pro Plans. Subscribe Now!

Interest on Provident Fund

Save Share

This query is : Resolved

GAURAVI (Querist)

14 June 2011 A person had balance in his PF a/c which is contributed by both his employer and himself. But after retirement, he did not withdraw the amount. No interest is being credited to this a/c. Is this allowed???
i.e. balance at the time of retirement and five years then is same.....

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)

15 June 2011 The person should contact the PF Office to know the status as to get the refund it takes time. after retirement interest on PF is to be calculated by the PF office and until and unless you intimate the PF Commissioner that you have retired the PF Office is not suppose to know your status. Request your employer to intimate the PF Commissioner about your retirement and also submit various form for getting the refund of both his and employers contribution. After all the PF Office is a Government office and to get the work done it takes time.

In case no interest is calculated by the PF Office you have to write to them for calculation of interest on pF amount but non calculation of interest is not correct.

C. A. S. S. Agarwal, Mumbai
09870243410

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now