gaurav 27 July 2017

Withheld pf (employer contribution) bank

Hi, I have been working with SBI for 4 years from 2011(april)-2015(Aug) before I resigned (volutary vaccated post) due to Medical reasons. Now after 2 years my terminal benefits have been paid but the Employer contribution of PF has been withheld. I was told that it is policy of bank to not to pay Bank's contribution in case servicce period is less than 5 years. Now I am aware bank PF doesn't come under EPFO and they may have their own rules regarding the payment of PF but is it valid to withold PF by giving reasoning of Policy or can it (policy) be contested in court? Amount is not much (1.5lacs Approx) but is it justified to withhold employee PF? Plz guide me if my case holds any merit ?

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Kumar Doab (FIN) 27 July 2017

Do you have PF rules and said policy of M/s SBI?

Has M/s SBI stated so in writing?

gaurav 27 July 2017

I have received email about the same from the branch manager of last Branch I was posted in and he has sent me the said policy document through email. The detail of the email is as under

"In continuation of our earlier mail please find enclosed copy of instructions in which it is mentioned clearly that if any member shall cease to be in service of the Bank before completion of a service of five years with the Bank, he shall be entitled to receive only amount of his own contribution of the provident fund.

The calculation sheet of Provident fund will be sent to you as soon as it is received from the PPG department, LHO Chandigarh."

You can check the attached dcoument here : https://www.dropbox.com/s/0i8wrndz6wad1mc/Scan10001.PDF?dl=0

I have also filed an RTI for the same asking about the reasons for the same that I can have hard copy of said policy Officialy.

Regards

PS: SBI is State Bank of India