ICICI Bank Ltd
Non receipt of extra 1% interest on my settlement

Dear Sir,

I the undersigned with EMP ID 110162 resigned from services of ICICI Bank on August 3. I served 10 years of services with the Bank. I got transfered my PF from ICICI Bank to current employer Bombay Stock Exchange on October 19. ICICI Bank transferred the accumulated PF balance as on August 3 with 8.5% interest. I asking the Bank to pay me the differential interest rate of 1% as rate of interest was declared 9.5% for 11 and my settlement was done duirng this year. The Bank is interpreting EPFO circular all RPFO of March 17 in its own way and has concluded the the Bank is not liable to pay interest of 9.5% on cases settled in 11 before March 17.

This unprofessional approach and anti employee attitude in not giving the benefit of 1% more interest is not acceptable. I have already written and made several calls to Mr. Dilipkumar Pal heading Salary and Finance section of ICICI Bank, but the Bank thinks they are street smart and can do away with paying at 9.5% by intepreting in its way.

Please take up this matter urgently and direct ICICI Bank to pay me differential 1% interest on my PF amount.

Regards

Girish Joshi

A-102 Star Madhuban CHS Ltd

Shimpoli Cross Road I,

Borivali (West)

Mumbai - 400092