Dear Frndz,
One of our old employees has mailed us a letter regarding the settlement of his PF.
His PF Cheque was deposited into his account by the PF Authority, but the cheque was bounced due to "INSUFFICIENT FUND".
Is it possible??? I mean hw can dis happen??? Being such a big authority, how can they have insufficient Fund???
Another employee's cheque was returned as it was not signed by the PF Officials.
Its realy unbelievable.:icon5::icon5::icon5:
From India, Madras
1One of our old employees has mailed us a letter regarding the settlement of his PF.
His PF Cheque was deposited into his account by the PF Authority, but the cheque was bounced due to "INSUFFICIENT FUND".
Is it possible??? I mean hw can dis happen??? Being such a big authority, how can they have insufficient Fund???
Another employee's cheque was returned as it was not signed by the PF Officials.
Its realy unbelievable.:icon5::icon5::icon5:
From India, Madras
How can the cheque bounce which was meant for depositing? Rathnam Manne. (Life’s Gud)
From India, Bangalore
From India, Bangalore
Its Impossible what you tell & no one can believe this type of things. This seems that this type of error has been created for malfunctiong, or it may be error of Bank. Please go to bank & verify it.
From India, Surat
From India, Surat
PF Authority has sent the cheque to the employee and when the employee deposited tht he was informed tht the chq is bounced due to insufficient fund. Even the bank whr the employee is having account has given a letter mentioning the same.
Even i dont believe the same. We have forwarded that letter to the PF Office enclosing all the related documents. Lets see wht the actual matter is.
From India, Madras
Even i dont believe the same. We have forwarded that letter to the PF Office enclosing all the related documents. Lets see wht the actual matter is.
From India, Madras
Sorry arpu82 PF authority never sent cheque to employees, but the said cheque is directly send to your employes given bank & its address. So I think it must be error created by Bank Only.
From India, Surat
From India, Surat
The most important thing is that these days the Pf office takes bank account nos and also ECS forms have started from the Pf office, so that the amount is directly credited to the employees bank account.
Hence the PF office sending a cheque is something which we need to think about. Further even if the PF office has sent cheque, they will do it only becasue they have to pay the amount not becasue it has to bounce.
You have done the right thing as of know, but ask the employee to check with his Banker as well. In all probabilities it seems to be the Bankers error.
From India, Mumbai
Hence the PF office sending a cheque is something which we need to think about. Further even if the PF office has sent cheque, they will do it only becasue they have to pay the amount not becasue it has to bounce.
You have done the right thing as of know, but ask the employee to check with his Banker as well. In all probabilities it seems to be the Bankers error.
From India, Mumbai
Ya i agree with Mr. Arihant, it is impossible pf never send a cheque directly they will credit the pf amount to the employee mentioned bank account but cheque bounce i cant believe your employee playing with you. Are you into hr department i think you are not, you said check bounce then check returned all things are cannot acceptable bcoz there is no chance to issue a check. you are new into statutory thats why you are telling like this.
From India
From India
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