Karnataka Power Corporation limited
Central Provident Fund Commission guidelines of returning the employer's portion Provident pension after 10 years of retirement

To,

The Commissioer

The Central Provident Commissioner

New Delhi,

India

I was working in Karnataka Power Corporation Limited, a Govt undertaking organisation. I was covered under CPF Scheme. I have opted for pension during 1996 for pension as per EPF Act (Circular). I have retired from Service after superannuation during 1999. The organisation could not obtain approval for pension from Central Provident Commissioner till 2003.

In the transition period between from 1996 and 2003 around 200 employees retired. The pension option given on 1996 is rejected and pension is not covered to us since approval (from CPF and Govt) was obtained only on 2003.

After repeated request covering us under pension scheme was considered on April.

Now we have to return the Employer's of portion Portion of Provident Fund and excess amount of gratuity recieved under CPF.

As per The Department of Pension &Pensioners’ Welfare, New Delhi memo No.4/18/99-P&PW (D), dated the 14th August only 6% simple interest rate is recomended whereas our oraganisation levies more 9% compound interest.

We are prepare to return the amount with interest. Please guide us correct interest to be levied at the time of returning employer's Provident Fund with interest.

Yours sincerely

R.Rajagopalan

Company: Karnataka Power Corporation limited
Country: India
State: Karnataka
City: Bangalore

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