Personal Finance Community

by jumpinglucifer

Stealth

a year ago

EPF Accounts Merge

I joined company A and worked there for 3 Years. Now I have switched and joined company B. EPF has two accounts. One for company A and one for company B. Now the problem is when I try to merge both the accounts it rejects my request as my basic salary in Company A was greater than 15000 and irrespective of that company A made a contribution in EPS (Employer Pension Scheme). Now without closing the EPS account from Company A there is no way to merge the EPF account. When I contacted company A, they said they don't have any solution for this problem it's been 10 months with the same issue. Any suggestions/solutions???

TallTales69

Unemployed

a year ago

It is you past employers mistake to deduct EPS despite non-eligibility. Hence they have to rectify it by writing to PF authority that they had mistakenly enrolled you for EPS scheme although you were not eligible. Further they need to request transfer of such fund to your PF account. Once thats done, transfer from EPF A to EPF B.

jumpinglucifer

Stealth

a year ago

Agreed and I have mentioned the same on email. But they said that EPF don't have any defined process to so do this online.

TallTales69

Unemployed

a year ago

Cannot happen online. Your employer has to write to them to move the EPS amount to the EPF account. It's an offline request. Amounts will be transferred only after close of books for FY and interest calculations are done. Typically around the June time frame.

mrwho

Stealth

a year ago

Following this post. Even I have the same issue and the request gets rejected each time I raise it online. Let me know if you find some solution.

BiryaniEnthu

Stealth

a year ago

Have you trued transfer request on EPFO portal? It is the easiest government thing I have used

jumpinglucifer

Stealth

a year ago

That's the problem I have mentioned. If EPS is there and your basic salary is greater than 15000 transfer request will be rejected.

BiryaniEnthu

Stealth

a year ago

nahi bhai, my basic salary was always more than 15k. EPS was not though

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SandyScrap

Flipkart

a year ago

Doesn't it get merged automatically with UAN? At least that was the purpose of UAN when it was created to put all the different accounts of employee under one header if they keep changing the companies.

jumpinglucifer

Stealth

a year ago

It does if the above mentioned issue is not there.

LostWanderer

BYJU'S

a year ago

Following

LazyNinja

Stealth

a year ago

EPFO transfers were smoother before, now they are a pain. I have 2 UAN, and I have been following up for 2 years to get the funds transferred to my current employer but they are saying even though the previous employer has PF contribution transferred from every single PF account I have had (6), they did not get the EPS contribution and can not forward funds till they receive EPS. Connected to previous employers, raised offline claims to transfer EPS. All claims got settled. Still they will not transfer PF 😭. It's painful all that I had to do and still not getting any resolution

jumpinglucifer

Stealth

a year ago

Anything that can be done by visiting EPFO office?

LazyNinja

Stealth

a year ago

Done that. It's a state where 3 PF offices are involved Gurgaon, KR Puram and Noida. Tried grievances and revently approached nodal officers over email.

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dlfcybercity

Stealth

a year ago

same is with me. it's hugely cumbersome process as i understand.. if you're contributing 1.8k pm then let it go.. you can see later on if there's some new process Epfo does but rn i would suggest not worth the time. though if you get it done do let me know as wel

jumpinglucifer

Stealth

a year ago

Problems: 1) You can't merge all your accounts into one. Once you switch 5-6 companies. You will have 5-6 accounts and merging will be much more difficult. 2) You can only withdraw money from the current account when u turn 60. So if accounts are not merged. Then at the age of 60 it will be very difficult. 3) Per month 1500 is 18000 per annum and you are missing out on 7-8% EPF interest.

Stillgrowing

Unemployed

a year ago

I have switched 6 jobs till date, have transferred all money to current EPF. There wasn’t any hassle for me. While selecting transfer, I selected my latest company to do that for me. According to what I know, EPF stops giving interest if there are no funds coming to an account after 3 years of last credit.

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LawfulPray11

PayPal

a year ago

@jumpinglucifer I am facing exact same problem. Last employer deducted EPS even though my basic was more than 15000pm. Tried transferring funds from last employer to current pf account. Got my request rejected for the exact same reason. They said contact PF office for this. Not able to find any solution and like you said, this money can't be withdrawn before 60. So, basically stuck!

jumpinglucifer

Stealth

a year ago

The only solution I see here is visiting EPF office. But then what to do next is not sure. Because I am damn sure visiting a government office once wont solve our issue

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by K_os

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6 months ago

Am i eligible for eps ?

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4 months ago

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by SuperHobby92

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4 months ago

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by Laidoffdesigner

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9 months ago

EPF still showing previous company as current

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2 months ago

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by babubhaiya1256

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8 months ago

Need help on PF

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by BornSurvivor

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5 months ago

EPF account name

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