Recently law is enforced not to pay interest on inoperative account, i.e. which is not operated for more than 3 years, in this way, govt. is looting people money of 23,000 crore.
If you serve 5 years you are eligible. Some companies take advantage of it and ask to leave before completing 5 years. Some people resign just before completing 5 years and they loose 2.5 months salary. Our systems got so many lacuna that it creates all the problems for middle class employees. If some body leave after serving 4 years 10 months or retire you will not get. There are so many victims and friends beware all these.No company has well wish in your life. Donot be loyal to any company like western people and be loyal to your salary. I completed 4 years and 10 months i lost 3 laks as gratuity.You have to join exactly five years before ( at age 55 or 53)your retirement date ,not a day after.Companies cheat and when you file a case then you know what our court will do ?
Re: gratuity
by ritesh sharma on Apr 12, 2014 10:19 AM
I think you missed a catch.Employees completing 4.6 years of service are given gratuity. This provision is also there in Gratuity and a large number of companies follow this. If you have lost, its becoz of your ignorance. There are a lot of companies who are sensitive to employee benefits.
Re: Re: gratuity
by ritesh sharma on Apr 12, 2014 10:20 AM
I think you missed a catch.Employees completing 4.6 years of service are given gratuity. This provision is also there in Gratuity Act and a large number of companies follow this. If you have lost, its becoz of your ignorance. There are a lot of companies who are sensitive to employee benefits.
EPF accounts are Inactive because of COMPLETE MISMANAGEMENT by Govt.
Why should PF# change just becz you changed jobs? It should be like PAN - same PF number should continue.
If your old company is closed down or not cooperating - it is very difficult to Withdraw PF, and i think Transfer is may not even be possible (becz it requires consent of original company).
Old PF data is actually not available online.
Most inactive PF accounts belong to People who work in Private Companies and when they change jobs - THEY GET STUCK - as Transfer requires cooperation from CURRENT COMPANY, PF DEPT, OLD COMPANY - so too much coordination needed.
SIMPLIFY - please do not harass people.
I know PF operation has become easier compared to before - BUT WHY HAS THINGS BECOME SO BAD.
Re: Fact Is
by Shownak on Apr 11, 2014 01:35 PM
Good idea! If my PAN can remain valid all over India, irrespective of which jurisdictional territory it was originally registered under, the same can be and should be made applicable in case of EPF account.
Re: Fact Is
by Shownak on Apr 11, 2014 01:36 PM
Good idea! If my PAN can remain valid all over India, irrespective of which jurisdictional territory it was originally registered under, the same can be and should be made applicable in case of EPF account.
