It is really a surprise for EPF members when they don’t receive full PF amount which was mentioned in PF passbook. When you feel the credited PF amount is less, then immediately check your PF passbook and compare your form 19 and 10c amounts in PF passbook with the credited form 19 and 10C accounts in your bank account.
How to Check PF Balance:
In order to check your PF balance go to EPF member passbook download portal and enter your UAN number and password which you are using at UAN member portal. After entering UAN and password now type the captcha appearing on your screen. Now select your PF member ID to download the PF passbook.
Top 3 Reasons for Full PF Amount Not Credited
1) In general PF amount comes in Two instalments. If you don’t know why PF credited in Two parts then reason is when you submit form 19 and form 10C either in online or offline then you will get PF amount in Two parts, we submit form 19 to claim PF amount and form 10C to claim pension amount. Both of these amounts will be credited into your bank account in few hours gap. So first check whether you have received both amounts or not.
2) The second reason is the tax deduction when an employee withdraws a PF amount of more than 50000 Rs in less than 5 yrs of service then 34.6% tax will deduct from his or her PF claim amount. In order to avoid these tax EPF members need to submit 2 copies of form 15G and 1 copy of PAN card. If they don’t submit then tax will deduct from their PF claim amount.
3) The final reason which majority of the EPF members don’t aware is when you transfer your PF amount from company to another company then only PF amount will get transfer into new PF account and pension amount will not transfer. Instead of pension amount service period will transfer. For example, if you transfer a pension amount of 24000 Rs to new PF account then this amount will not transfer, instead of amount 2 yrs of service period will transfer. But this amount will appear in your PF passbook, but while applying pension you don’t receive this, you will receive PF amounts of both old and new employers and pension amount of new employer only. Click here to know more details about why pension amount will not transfer into the new PF account.
According to me, the above are the Three main reasons for less PF amount credit, still, if you feel that you received less PF claim amount then raise a grievance at PF portal then they will help you to solve your query.