EPF BANDRA MUMBAI
Less EPF returns
- 12-14-2011
- 114
Dear Sir,
This is to bring in your notice that I applied for the withdrawal of my EPF of Glenmark Pharmaceuticals Ltd (Mar Feb) in Nov through company. The claim details were as follows:-
Member A/C No MHBAN00209420000004378
Claim ID: MHBAN110300043395
Status: CLAIM FORM 10C FOR WITHDRAWAL BENEFIT/SCHEME CERTIFICATE FOR MEMBER ACCOUNT NO MHBAN00209420000004378 HAS BEEN RECEIVED ON 26.03.2011 IS UNDER PROCESS.
I received Rs 31377/- on 08/11
Claim ID: MHBAN110300043389
Status: CLAIM FORM 19 FOR PF SETTLEMENT FOR MEMBER ACCOUNT NO MHBAN00209420000004378 HAS BEEN RECEIVED ON 26.03.2011 IS UNDER PROCESS
I received Rs 10736/- on 09/11
I received total Rs 42113/-, which to my best knowledge seems to be less. As my tenure from Mar 7th (my date of joining the EPF) to 31st Mar (the date up to which I was eligible to receive the interest) was above 8 yrs.
EPF Returns:-
Total contribution during Mar to Feb in Glenmark Pharmaceuticals Ltd: - Rs 28100/-
Tenure of deposits: -
8 yrs and 25 days From Mar 7th to 31st Mar (the date up to which I was eligible to receive the interest)
Total Amount Received: - Rs 42113/- Rate of Interest: - 8.5%
My concern is that I have received fewer amounts as my tenure of deposit was above 8 yrs. For example if you compare this return even with NSC return for 6 yrs only, the amount you get in NSC comes higher than EPF I have received, despite of the fact that NSC gives only 8% ROI as against 8.5% given by EPF. And also tenure of the amount here in EPF is higher i.e above 8 yrs.
NSC Returns with same Amount:-
Amount invested Rs 28100/- Tenure: - 6 yrs Total Return: - Rs 45241/- Rate of Interest pa 8.00%
I don’t have calculator for the EPF interests, therefore, I have compared my EPF returns with popular NSC returns.
Therefore, pl recheck calculations of my EPF settlement to prevent me from losses incurred.
I shall be greatly obliged to you.
Thanking you in advance.
With thanks and regards.
Neeraj Srivastava
Member A/C No MHBAN00209420000004378
Company: EPF BANDRA MUMBAI
Country: India
State: Maharashtra