I had PF acc in older whichj i left 4 years back and i filled the form to transfer the acc to new company.i was thinking it was transffered. but i left the new company is in less then 6 months and I was tracking with new company after three years they said my old company my pf money is not transfferd, wht shall i do now to get money from both comapny.
1.CAN ANYBODY TELL ME WHERE DOES THE PPF - MONEY STAYS FOR ALL THOSE YEARS IS IT WITH BANKS OR WITH IN GOVT TREASURY. 2.IF IT IS WITH BANKS SAY-SBI -THE CONCERNED BANK OR POST OFFICE SHOULD PAY SEPARATE INTEREST FOR 1ST,2ND & 3RD FIVE YEARS - FROM LATEST ABOVE LIMIT.AS THE 15 YEAR TERM IS GOOD BUT A SMALL EMPLOYEE REALLY DOES NOT BENEFIT IN TODAY'S AGE. ANY SUGGESTION'S WELCOME
why Not Goverment Apply Fix rate of Interset for Long Term Capital,which they received from public in form of EPF/PPF,Example like bank fix deposit,every 5 year rate should be increase as per market condition,rate of int. 10% should apply for first 5 year & there After increase as per market condition.
Re: This PPF is of no use
by Shrinivas Nimkar on Mar 21, 2011 12:59 PM
why? u shd know what u say and be able to justfy it...ANYBODY CAN GIVE OPINIONS ON ANYTHING...
if someone deposits voluntarily to EPF (over and abive the mandatory deduction by pvt companies), will that additional contribution be eligible for 80ccc deduction and interst thereof as tax free under the new proposed DTC?
Re: useless PF
by Shrinivas Nimkar on Mar 21, 2011 12:58 PM
I'll answer only point no. 1 of urs > 95% EPF offices are now linked [online - computerised] so from now on thr 'll be no hassle in tracking ur EPF online ... or so the govt. says! but it shd work out.
Re: useless PF
by Hariharan on Mar 21, 2011 12:53 PM
hey...PPF account can be opened in SBI or Post Office... by any body.... it gives flat 8% return (one dis advantage i feel is.... money value will be less on 16th Year)....
Re: useless PF
by Srinivasan Ramachandran on Mar 21, 2011 12:57 PM
Hi ithate!
There is a lot of difference between EPF and PPF. EPF is contributed from your job! But, PPF is entirely in your control. You can open your PPF account in post office, banks, etc. It is in no way related to your job. You can have both EPF and PPF accounts.
Re: useless PF
by Dubuku on Mar 21, 2011 03:50 PM
You dont fit to be a person to comment in this forum. You use filthy language. Dont get into this site.. This site is for Gentleman like us.
Re: Re: useless PF
by domino on Mar 22, 2011 09:41 AM
b ...s d...is the right word of PF dept... Maharastra especially Mumbai having large amount of a/c in their hand..still ppl have to go personally for transferring their account...
The statement that "over 16 years, an annual contrib.....almost 30 times the annual investment" is mis-leading to say the least. Over 16 years, you would hv invested 16x70=Rs.11.2 Lakhs, not 70k. So how does 21L become 30 times 11.2 L?
Re: PPF - Misleading Statement
by s mumbai on Mar 21, 2011 12:55 PM
you need to get your basics about finance right...there is something called CAGR.... go through it... your will understand...
I extended the account by 5 years about 6 months back, but now urgently need the balance in my continued account urgently. is there any way I can foreclose the account?
Re: Foreclosing the extended account
by srinivas on Mar 21, 2011 12:37 PM
You can withdraw 60% of the balance at the end of 15 years. This you can do even though, you have opted for extension for a period of 5 years.
