Calculation of PF

Discussion in 'Provident Fund' started by Jabakusumba, Feb 4, 2018.

  1. Jabakusumba

    Jabakusumba Novice

    I am working in a Higher Secondary School. During General Transfer I was selected to transfer from my earlier school to a new school. Accordingly i have resigned from my earlier school and released on 15/12/2014 and joined in the new school on 16/12/2014.

    My PF amount of Rs. 596493.00 ( cumulative amount till March 2014 + principal amount upto Dec 2014) was released by ADI School on 18/02/2015 which means my interest payment from April 2014 to Dec 2014 should be due for payment. Though from ADI the payment was released on 18/02/2015 but my earlier school issued the cheque after repeated follow up on 16.05.2016 which i have deposited to AI through TR7.

    Now i am not clear why there is a delay of 15 months from the school and due to the negligence or whatsoever i have incurred a huge interest loss to the tune of Rs. 65000.00. Whether i can take any action for recovering my loss and if so, how ?
     
  2. Jabakusumba

    Jabakusumba Novice

    Sir (mihiracharya) waiting for your advice
     
  3. mihiracharya

    mihiracharya Staff Member

    The same case happened in my school. Three teachers released in connection with General Transfer Dec-2014. One of them got interest up to Oct.16, the rest two got their interest March'16. I spoke verbally with the authority and wanted to know the clarifications. He asked to submit the rest etc. along with the petition of the incumbent.
    But for your information, I came to know from office of the DIS (SE), South 24 Pgs., that whose P.F. is transferred, the office paid their subscription upto date and interest paid upto 2013-14. The rest due interest will be paid on due course as arrears.
     
    nemo likes this.
  4. Jabakusumba

    Jabakusumba Novice

    Thanks Sir. You might have observed that in my letter i have also pointed that my entire subscription along with interest till March 2014 has been released by AI office and only due is the Interest part for the next Financial Year.

    But I am more concern as to how the School hold my money for 15 months after receiving the same from AI office for which i had to loss a huge interest amount due to not any fault of AI office nor from me and how this can be recovered ?
     

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