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Query about private PF trust

Pvt ltd 157 views 2 replies

I 'm working in private MNC IT company where they deduct PF both share from employee & company has own trust.

I found the some mismatch of PF interest, query as below:

1)  8.65% in 2018, such an interest get on both employee and employer share monthly basis compound interest ?

For Ex. Total share of employee and employer is Rs.4400 (equal share). then end of year interest would be ₹2,309.53 for 12 months.

 

2) If employee leave organization & then after employee withdraw PF after 1 year,  in this case we get interest between left origination to withdraw date ?

 

Thanks in advance 

 

 

Replies (2)
Normally Under EPF you get it, because interest will accrue but for PF scheme set up under private trust of company itself, I would recommend you to get yourself acquainted with Broader term of SOPs, If it's written under policy made by trust you shall get Interest for the period!

If I am not wrong then Monthly Compounding happenes through Following Formula - PV *(1+'r'/m)^(m * n) -1

here, PV = Principal Value
m = Compounding Factor ( It's 12)
n = No. of Years

So For 8.65% It's About 9.0013% ...

Thank for A2A answer.

Here I want to understand that, 

1. Does same % of interest for both employee and employer ? Or its depends of private trust policy?

2. Does get interest after left the organisation ?

 

 


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