EPFO withdrawal hassles
One of our employees father cant seem to withdraw his EPFO funds. His words to the team today:
EPFO is not for your welfare. It's a forced investment into govt. securities.
Just, demand to make EPFO contributions voluntary.
Demand your money back.
Plan your investments & retirement by yourself.
It's not worth blocking your money with the govt. more
EPFO is not for your welfare. It's a forced investment into govt. securities.
Just, demand to make EPFO contributions voluntary.
Demand your money back.
Plan your investments & retirement by yourself.
It's not worth blocking your money with the govt. more
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View all 6 comments Below 6 comments
Your posts are like burning the country with fire. What is the reason as to why he can not withdraw the funds ? more
Dec 14
True that the EPS pension is meagre and not at all useful for members' life as pension. There is no comparison between contributions and pension amount. I contributed for about 23 years and all most all the years at ceiling level, my pension is only 2256/- per month. Had I been allowed to invest such amount otherwise, would have invested for a better returns. True, all members may not be wise enough to make other investments, so better to make it voluntary. Now it is not at all a Social Welfare one. more
Nov 28
I have suggested to FM to remove the chapter providing all types of deductions from salary in Income Tax Act 1961, and increase tax exemption limit to 30 Lakhs. This will avoid the need for investment in PF etc. and make every ones life simple with less paper work and compliance reporting. more
Nov 28
They just lure middle class into investing using 8+% of returns. However, would never let them take 100% of contributions, stating there would be pension. After 23 yrs of contributing to EPF, the system shows I'm eligible for INR 2,100 per month as pension for my contributions so far! more
Nov 28
Hi Naina not disagree with you. They should behave humanly with member/employees on their genuine issues. more
Nov 28
