Do you have insurance, stocks, mutual fund and personal finance-related queries?
Please ask your questions HERE and rediffGURU Milind Vadjikar, Association of Mutual Funds in India (AMFI)-registered MF distributor and Pension Fund Regulatory and Development Authority (PFRDA)-registered retirement financial planning advisor, will answer them.
Anonymous: I'm a 40-year-old woman struggling with a father's name mismatch in EPFO. How can I fix it?
To correct a mismatch in your father's name in your EPF account, you may:
1. Update online
Go to the 'Manage' section in EPF portal, and update your father's name. Make sure the name matches with that in your Aadhar card. This request will have to be validated by your employer.
2. Submit a joint declaration
Submit a joint declaration with your employer to the Regional PF Commissioner. You will need to include valid supporting documents.
Anonymous: Hello Sir, I left my previous IT company in 2015 after working for 15 years there. Since I didn't plan to continue working, I opted for PF withdrawl as well as get the Pension certificate.
I received the PF amount after a few months, but my Pension certificate was rejected and some reason was given like family details not provided or something like that even though I had submitted all documents to my employer.
Now it is almost 8 years. How to get my Pension certificate?
If your employer had to block your EPS for some reason they may have blocked the EPF withdrawal as well. But that is not the case.
Therefore I feel it's a purely documentation issue which you can sort out with the HR team of your previous organisation.
However if it still remains unresolved you may lodge a grievance in EPFiGMS portal for faster resolution.
Anonymous: Every month I get a message from EPFO that after contribution by employer, this amount is my EPFO balance. I see that my accumulated balance increases month on month by the amount contribution made by the employer.
How do I know what is total balance which includes my contribution and accumulated interest?
You can check that through:
1. EPF portal
2. SMS service
3. Umang App
Bharat: I have a PPF account (with Post office) in my name opened in 2011 and I opened one in my child name in 2019 (with SBI) with myself being guardian.
If I deposit 1.5 lacs in both accounts every year will both of them earn interest of 7.1 %? New rules says after Oct 2024 minor PPF account will earn interest of only Post office saving bank account, then can I close my child account and get back the money as I don't want to continue that PPF.
If I close minor account now will my interest be forfeited? Thank you for taking time to answer this question.
The combined investment in a financial year in PPF accounts in your name and in the name of your minor child, but under your guardianship, should not exceed 1.5 L.
You will be levied some penalty for pre-mature closure.
Check with your bank for extent of charges regarding this point.
Anonymous: I am 64 years old and previously worked at Observer India Ltd. for over 15 years. However, the organization shut down many years ago, and I do not have the UAN (Universal Account Number) or PF (Provident Fund) number associated with my employment during that period.
After my tenure at Observer India Ltd., I began working with Viacom18, where I am currently employed, and I have all the necessary details of my present PF account. I would like to know the process for retrieving or transferring the PF funds accumulated during my time at Observer India Ltd. to my current PF account.
Considering that the company no longer exists and I lack the old PF details, what steps can I take to initiate the process?
Additionally, what documents or records will be required to locate and claim the funds from my previous employment? Any guidance on dealing with such situations where the employer is no longer operational would be greatly appreciated.
If you don't remember your EPF account number and your employer is closed, you can try these options:
1. Check your salary slip: Employers usually include the PF account number on the employee's salary slip.
2. Visit the EPFO office: You can visit the EPFO office with your identity proof and application form to get your PF number.
3. Call the EPFO helpline: You can call the EPFO helpline for information and to track past accounts.
4. Go to the EPFO Web site: You can fill out some basic information on the EPFO website to locate your dormant account.
Once you get the PF account number you may proceed for offline or online withdrawal of the same.
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Disclaimer: This article is meant for information purposes only. This article and information do not constitute a distribution, an endorsement, an investment advice, an offer to buy or sell or the solicitation of an offer to buy or sell any securities/schemes or any other financial products/investment products mentioned in this QnA or an attempt to influence the opinion or behaviour of the investors/recipients.
Any use of the information/any investment and investment related decisions of the investors/recipients are at their sole discretion and risk. Any advice herein is made on a general basis and does not take into account the specific investment objectives of the specific person or group of persons. Opinions expressed herein are subject to change without notice.
