I joined an autonomous Institution of Government of UP in 1998 in the pay scale of 10,000-16500/-. My salary, allowances, facilities, financial aspects are at par with the employees of Government of UP. This Institution was a Government one which got converted into an autonomous one due to the directives of Hon'ble Supreme Court. It was registered under Socities Registratin Act, 1860 in 1997. Many rules and provisons were not clear at the time of my joining. The Institute opened a PPF account for my provident fund (an obvious error; it was pointed out by me as such).
In 2003, EPF was adopted with consent from employer and employees, with retrospective effect of 1999 when 20 employees got appointed in the Institute. All employees were of Group A, B and C having per month salary higher than 6500/-. I was largely insecure and ignorant about the pension provisions at that point of time. The byelaws of the Institute specifically mentions that a pension fund will be created for the employees of the Institute. At some point of time, the Institute had also created a good pension corpus which was later on converted into other budget because of EPF enforcement.
Being an employee at par with state employees, I am entitled to a pension equal to state employees. My current Grade Pay is Rs. 7600/-; the highest in the Pay Band-III. My next ACP for pay band-IV would be due after 16 months. If I continue to be a subscriber to EPF I would receive an amount of about Rs. 2500/- pm or a little more and meager upgradation from EPF as pension.
If there is a way out and my EPF account can get closed with the judgement that it was an error then all deposits in my name would get refunded to my Institution and then my Institution would be paying me full pension as applicable to the employees of the State in effect on the date of my joining in 1998.
My Query: How I can get my EPF account closed with return of all the corpus to the Instituion and declartion of my EPF account as null and void to give me natural justice.
CAclubindia
