Contribution towards p.f

Dear Sathe ji,

WISHING YOU A VERY HAPPY DEEPAWALI

Under section 12 of the Act, the employer can,t reduce the wages ,etc., more so ,not abruptly in any case.

You may file a complaint with the concerened RPFC with details

With Regards, 

CHANDOK

RPFC (Retd.)

09988021715

chandokak@yahoo.co.in

www.akchandok.com

In no case the PF can be curtailed . The Employers have also to contribute alongwith your contribution.

Why did they do this , did they intimate you or not.

Whether the contribution was deducted from your salary and shown on your Monthly Pay Bills or Not

If they have deducted from your salary and not deposited to RPFC, they are criminally liable

Facts are most relevant.

0-9929596546

Dear ,

Shri .Suresh Godbole,

                                          The bank had done this in 2002 ,they stated that according to law whatever minimum contribution employer has to pay, they will pay ,they will not contribute as equal amount of employee that is 10% of basic+d.a..In short employee contributes 10 %whereas bank contributes 4 times less than employees contribution towards P.F.The bank is saying it is adhereing the rule of law. Now tell me who is correct ?

Have they supplied you your Account Number in which they used to send your contribution to PF Commissioner

Go to them and verify 

You will know what you contributed and what they

Ask PF Commr , the exact Rule position with regard to the Co-op Bank contribution in each account

Or you can get the guidelines from them

First to verify your Account with the PF Deptt and and verify your amount pending with them

Match the Rule poswition as being stated by the Commr and the Bank authorities , if they are identicat , take the money and be happy , any discrepency may proceed further

Your Last months contribution must also go to them

Dear

Shri Suresh Godbole

                                     Our bank has supplied to us the statement of each employee  half yearly  and we do not have any account in provident fund office. Our bank has maintained a provident fund trust account  in our branch. So no question of doubtness arieses.The amount which we got at the time of premature retirement done by the bank illegally ,is correct but the contribution towards the provident fund is 4 times less than our contribution.This is the main question.Is it reasonable to make a complaint to provident fund commissioner? For example my contribution was Rs 3200 whereas bank,s contribution was Rs 735/-.I want justification for this issue.

Nothing wrong in approaching the Commr , if it costs you nothing

Approach, go personally and try to get the answer in writing

Then we will see

Sathe ji,
       As far as my understanding of the EPF act goes.Employees earning less than Rs 6500(Basic+ DA) has to be compulsorily enrolled for EPF in organisations employing more than 20 persons.
       In your case you Basic+DA was 26000+ from the data you have given.I am assuming employee contribution was 12%(Rs 3200 in your case) of Basic+DA.So your enrollment in EPF
is not compusory,it is only voluntary by you and company.
       Rs 735 employer contribution is 12%(Rs 780) of Rs 6500(deductible 0.89% fund management fee(entry load),0.1% Insurance premium etc).I think your company was also paying EPS contribution of Rs 514 which is 8.33% of Rs 6500(This is statutory requirement).
       This is unfortunate but I think there is no requirement for the bank to match employee contribution in EPF unless it is less than Rs 6500 Basic+DA that too after deducting 8.33% for EPS.

       I agree with Shri Suresh Godbole ji,that you should approach commisioner to get the correct legal position.There is no harm in doing that.After all it is hard earned money.     
 

Kindly follow the details given and action suggested by Mr. Nandy.

Dear Sir,

From the reply of Mr. Sathe, it is clear that his bank is not covered under EPF & MP Act 1952, and is having its own trust. In such a case RPFC has nothing to do except to see as to why the Act is not applicable, otherwise, in my opinion, Rules of the Bank will prevail.

Adv.Chandok

RPFC (Retd.)

Dear R Nandy,

                         Bank,s contribution towards pension amount was 0.Rs 514/- which you have mentioed in your letter was deducted from the salary of the employee separately.

Thanking your

s.vsathe

Satheji,

Quoting from the www.EPFindia.com site

"

b) The Employees' Pension Scheme

From and out  of employer's share of Provident Fund contributions 8.33% of the total wages limited to Rs. 6500/- per month is segregated and credited to the Employees' Pension Fund in  A/C No. 10 ( w.e.f. 1-06-2001 ).  The Central Government also would contribute at the rate of 1.1 / 6% of total wages.

"

 EPS should be deducted from the Empoyers share and not deducted from the salary of the employee.This matter should defintely be taken to the  RPFC.