Subject: Regarding Non-Deposit of Employer's Share of EPF- Trust A/c to PUNSUP A/c No.
A General Manager ( F&A), PUNSUP, Chandigarh had rendered 11 years of service in Punjab State Co-operative Agricultural Development Bank. He was relieved from this office and joined Punjab State Civil Supplies Corporation Ltd. (PUNSUP) Chandigarh as General Manager ( Finance& Accounts)through proper channel. He had again and again written to this organization about non-deposit of employer,s share in his EPF account.
He had made a request to deposit his employer share of EPF lying with the bank in PUNSUP EPF account.
In view of the above ,it is submitted here that as per the records available, the said ex-employee had joined service with the Bank on 20.12.2001. He was promoted as AGM on 18.01.2011 and thereafter the said ex-employee had expressed a desire to apply with PUNSUP for recruitment and service in terms of the advertisement issued by PUNSUP. Consequently an experience certificate was issued to him on 19.05.2011 and he had further requested to get releived from the services of the Bank herein, on16.06.2012 and he was relieved from the service of this bank on 20.06.2012.
At that time pension scheme was implemented in this bank and as per the pension scheme, 20 years service or retirement on superannuation was required to be eligible for the payment of pension under the pension scheme.
How much of the employer share is to be transferred, if any?
What is the procedure of transfer ?
From India, Jalandhar
A General Manager ( F&A), PUNSUP, Chandigarh had rendered 11 years of service in Punjab State Co-operative Agricultural Development Bank. He was relieved from this office and joined Punjab State Civil Supplies Corporation Ltd. (PUNSUP) Chandigarh as General Manager ( Finance& Accounts)through proper channel. He had again and again written to this organization about non-deposit of employer,s share in his EPF account.
He had made a request to deposit his employer share of EPF lying with the bank in PUNSUP EPF account.
In view of the above ,it is submitted here that as per the records available, the said ex-employee had joined service with the Bank on 20.12.2001. He was promoted as AGM on 18.01.2011 and thereafter the said ex-employee had expressed a desire to apply with PUNSUP for recruitment and service in terms of the advertisement issued by PUNSUP. Consequently an experience certificate was issued to him on 19.05.2011 and he had further requested to get releived from the services of the Bank herein, on16.06.2012 and he was relieved from the service of this bank on 20.06.2012.
At that time pension scheme was implemented in this bank and as per the pension scheme, 20 years service or retirement on superannuation was required to be eligible for the payment of pension under the pension scheme.
How much of the employer share is to be transferred, if any?
What is the procedure of transfer ?
From India, Jalandhar
I didn’t understand the matter clearly Was the PF under a trust? Or is it under Central PF?
From India, Mumbai
2396From India, Mumbai
Under a trust. After his resignation, the amended pension scheme was abolished.
The employee is asking for a transfer of the entire employer share of Rs. 566712/-
Out of this an estimated amount of Rs.68707/- had already been deposited as a pension fund under EPS 1995 with the office of RPFC, Chandigarh.
From India, Jalandhar
The employee is asking for a transfer of the entire employer share of Rs. 566712/-
Out of this an estimated amount of Rs.68707/- had already been deposited as a pension fund under EPS 1995 with the office of RPFC, Chandigarh.
From India, Jalandhar
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