[prithm]

Originally Posted by Fx14

As a solution to your specific issue, suggest that you deposit cash / clearing cheque once a year for the entire amount you wish to contribute for the F.Y., thus limiting yourself to the inconvenience of just 4 more transactions till maturity.

I don't seem to understand this point. PPF contributions (as per my limited knowledge) can be done as we please for the whole year or monthly.

Is there a limit to number of contributions & amount of contribution ?

[whitewing]

Originally Posted by prithm

I don't seem to understand this point. PPF contributions (as per my limited knowledge) can be done as we please for the whole year or monthly.

Is there a limit to number of contributions & amount of contribution ?

There is no max limit to the contribution. Only limit is that in a FY, the contribution should not exceed 1.5L.
So, the suggestion was to drop in the 1.5L as a lumpsum for the whole year.
If this is done in the 1st weeks of April, you'll be maximizing the interest earnings as well.

[Fx14]

Originally Posted by prithm

Is there a limit to number of contributions & amount of contribution ?

Minimum 1 transaction and maximum 12 transactions in a year.

Minimum contribution amount in F.Y. of Rs. 500 and the maximum amount you can deposit in your PPF account cannot exceed Rs.1.5 Lakh.

[prithm]

Originally Posted by whitewing

There is no max limit to the contribution. Only limit is that in a FY, the contribution should not exceed 1.5L.
So, the suggestion was to drop in the 1.5L as a lumpsum for the whole year.
If this is done in the 1st weeks of April, you'll be maximizing the interest earnings as well.

Originally Posted by Fx14

Minimum 1 transaction and maximum 12 transactions in a year.

Minimum contribution amount in F.Y. of Rs. 500 and the maximum amount you can deposit in your PPF account cannot exceed Rs.1.5 Lakh.

Thank you whitewing + Fx14.

I have one more question. Say for example if any of the PPF depositor misses out on any of the yearly contributions, is it considered as a default with full disqualification or is it allowed on goodwill basis by banks if the account is more than 5 years.

[kavu75]

Originally Posted by prithm

Thank you whitewing + Fx14.

I have one more question. Say for example if any of the PPF depositor misses out on any of the yearly contributions, is it considered as a default with full disqualification or is it allowed on goodwill basis by banks if the account is more than 5 years.

Bank will charge a nominal fine if we miss an yearly contribution.
In my case, my PPF was with SBI and I missed the contribution for an year. The next year when I tried to make the payment at branch, they collected a nominal fine and after I was able make the contribution.

[deehunk]

Originally Posted by kavu75

Bank will charge a nominal fine if we miss a yearly contribution.

The post office charges Rs.50 penalty charges for missing your subscribed contribution to the PPF account, maybe Bank too charges the same amount.

[Fx14]

Originally Posted by prithm

Thank you whitewing + Fx14.

I have one more question. Say for example if any of the PPF depositor misses out on any of the yearly contributions, is it considered as a default with full disqualification or is it allowed on goodwill basis by banks if the account is more than 5 years.

In case a subscriber fails to make the minimum annual contribution of Rs. 500 in a financial year, the PPF account will become inactive. An inactive PPF account can be activated at a later date by paying a penalty of Rs. 50 for each year of inactivity. This penalty is payable in addition to the Rs. 500 minimum contribution required for each year the account was inactive.

[Scarlet_Rider]

Originally Posted by Scarlet_Rider

Any idea what is the turn around time for a transfer request from previous employer to present employer? The request was raised online on 14th January 2023 and accepted by employer on 16th January 2023. The current status shows as 'Accepted by employer-> pending at field office'.

Originally Posted by Yieldway17

Good luck. I have requested for transfer two times and both times they rejected after the above status you mentioned.

Originally Posted by rx100

I transferred my PF amount from previous employer to current employer last July and it got transferred within 1 or 2 months I believe.

Logged in today morning to the EPFO site and was pleasantly surprised to see my request processed. The status showed as 'Accepted by field office'. It was processed on 24th January 2023. Just like other members mentioned here as well as my PF contact in office, I was prepared to wait for 30 to 60 days, but this request was processed in less than 2 weeks!

The site's response time however remains slow during peak working hours. Best time to access the site is either before 9 AM or on weekends.

[Yieldway17]

Originally Posted by Scarlet_Rider

Logged in today morning to the EPFO site and was pleasantly surprised to see my request processed. The status showed as 'Accepted by field office'.

You are lucky and I have to say I'm a bit jealous. I still don't know what's wrong with my transfer(merge) request as there is no explanation other than 'Rejected by Field Office'. Maybe it's because my 2 accounts are from 2 different regions. Also I joined a new employer recently and I'm wondering how they are going to process my PF, if it will be credited in one of the existing accounts or another new one will be created.

[whitewing]

Originally Posted by Yieldway17

You are lucky and I have to say I'm a bit jealous. I still don't know what's wrong with my transfer(merge) request as there is no explanation other than 'Rejected by Field Office'. Maybe it's because my 2 accounts are from 2 different regions. Also I joined a new employer recently and I'm wondering how they are going to process my PF, if it will be credited in one of the existing accounts or another new one will be created.

Did you try raising a grievance? Along with the ticket, they share the contact mail ID of the case officer. You can perhaps contact the officer directly.

[JithinR]

Originally Posted by Yieldway17

You are lucky and I have to say I'm a bit jealous. I still don't know what's wrong with my transfer(merge) request as there is no explanation other than 'Rejected by Field Office'. Maybe it's because my 2 accounts are from 2 different regions. Also I joined a new employer recently and I'm wondering how they are going to process my PF, if it will be credited in one of the existing accounts or another new one will be created.

It should be credited to your current employer tagged PF account. If you are not getting a response with raising a ticket on the portal then perhaps try your luck with the Pgp portal.

[rx100]

Originally Posted by Yieldway17

You are lucky and I have to say I'm a bit jealous. I still don't know what's wrong with my transfer(merge) request as there is no explanation other than 'Rejected by Field Office'. Maybe it's because my 2 accounts are from 2 different regions. Also I joined a new employer recently and I'm wondering how they are going to process my PF, if it will be credited in one of the existing accounts or another new one will be created.

My two accounts belongs to two different regions and there were no issues with transfer. Both of your accounts are under same UAN? Have you initiated transfer through One member One EPF account option?

As for the new employer, they have to create a new PF account for you under same UAN to deposit PF money and you have to raise a new request to transfer existing accounts into new one.

[Scarlet_Rider]

Originally Posted by Yieldway17

You are lucky and I have to say I'm a bit jealous. I still don't know what's wrong with my transfer(merge) request as there is no explanation other than 'Rejected by Field Office'. Maybe it's because my 2 accounts are from 2 different regions. Also I joined a new employer recently and I'm wondering how they are going to process my PF, if it will be credited in one of the existing accounts or another new one will be created.

Even my previous account and present account are from 2 different regions. My request was attested by the current employer after I sent them a scanned copy of the Form 13 with a physical signature. You need to do this within 2 days after submitting the transfer request online. By the way, have you updated the Exit Date for the previous account via the portal? That could be the issue for your request getting rejected.

[Chetan_Rao]

Current fiscal is nearing an end, and no interest credit for the previous fiscal yet. How is this even allowed?

[Bhokal]

Someone known claimed his entire PF amount (except the pension part which can't be claimed before retirement age I believe) recently. Interesting thing, when he filed the claim the interest was yet to be credited but when the final amount came to his bank account it included the interest part also (so the final amount was more than what he mentioned in the claim form).