I had sent following message to EPF office.
QUOTE:
I retired on 30-10-2010 from Torrent Power Ltd, Ahmedabad. I was paid total EPF balance amount through ECS on 16-12-10. While paying this amount as full settlement interest for the period 01-04-2010 to 16-12-2010 was calculated as per then prevailing rate of 8.5 %. Subsequent to this EPF final interest rates were revised to be 9.5 % for the year 2010-2011by govt of India. For which Govt Of India issued circular to all PF office during March 2011 to pay 9.5% interest for year 2010-11. Copy of circular attached herewith.
Hence a interest difference of 1 % is due to me by EPF office for the period of year 2010-11.(Interest Difference may be calculated for the period 01-04-2010 to 16-12-2010 on entire balance amount up to 31-03-2010 & contributions from 01-04-2010 to 16-12-2010.)
UNQUOTE:
EPF office has rejected my claim & answered as under:
QUOTE:
This is with reference to your Grievance registered vide Registration Number ROAHM/E/2012/00098.
It is informed that after processing your grievance,the following action(s) has been taken:
The member has been intimated vide this office letter No.1675 dt:27/03/2012 that at the time of settlement of the claim, interest was paid as per the rate of interest declared in the Government Gazette.
Therefore, we are closing your grievance from this office.Please quote the same in your future correspondence.
UNQUOTE
Can you please advise me further on that if EPF member retires in mid of the year & then Govt. increase rate of interest for year gone, will he be entitled to get interest difference OR not. IF not under which reference of EPF act/rule the same is not payable.
PPF Account number: GJ/872/29227
Name: Kishor Raghunath Barhate
Address: 66, Sabarbag society, Sabarmati, Ahmedabad, 380005
Mobile 9866192006, 9925450267
