Dear Sir,
This is to bring in your notice that I applied for the withdrawal of my EPF of Glenmark Pharmaceuticals Ltd (Mar 2003-Feb 2005) in Nov 2010 through company. The claim details were as follows:-
Member A/C No MHBAN[protected]
Claim ID: MHBAN[protected]
Status : CLAIM FORM 10C FOR WITHDRAWAL BENEFIT/SCHEME CERTIFICATE FOR MEMBER ACCOUNT NO MHBAN[protected] HAS BEEN RECEIVED ON 26.03.2011 IS UNDER PROCESS.
I received Rs 31377/- on 08/11/2011
Claim ID: MHBAN[protected]
Status : CLAIM FORM 19 FOR PF SETTLEMENT FOR MEMBER ACCOUNT NO MHBAN[protected] HAS BEEN RECEIVED ON 26.03.2011 IS UNDER PROCESS
I received Rs 10736/- on 09/11/2011
I received total Rs 42113/- , which to my best knowledge seems to be less. As my tenure from Mar 7th 2003 (my date of joining the EPF) to 31st Mar 2011 (the date up to which I was eligible to receive the interest) was above 8 yrs.
EPF Returns:-
Total contribution during Mar 2003 to Feb 2005 in Glenmark Pharmaceuticals Ltd: - Rs 28100/-
Tenure of deposits: -
8 yrs and 25 days From Mar 7th 2003 to 31st Mar 2011 (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 MHBAN[protected]
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