Sad state of affairs with EPFO. They haven't credit if interest amount of F.Y. 2021-2022

[justme7777]

@thecharismaticone Ohhh... Relieved to know that ot only matters, if someone needs their money back. And that it's only going to impact those people, who have to encash PF, because they are moat likely in dire need of money.

 

[damon22]

@poorlyillustratedthoughts Even for 2020, interest credited was nearly half, delayed by over 6 months, no interest on the delayed period

 

[kimbrown]

@poorlyillustratedthoughts Hey guys is the EPFO investment taken into consideration for 80C?

Eg If my EPFO investment annually is 30K, can I just investment 1.2Lakhs in ELSS to get full benefit of 80C?

 

[haroon]

@kimbrown Only your contribution will be counted, so if total contribution is 30k, your part might only be 15k. Do check that once carefully.

 

[christiancorner777]

@kimbrown Yes

 

[zailena]

@kimbrown Yes

 

[mommyandwife14]

@poorlyillustratedthoughts So we will also be missing the interest on interest as well right?

 

[urbanlegends]

@mommyandwife14 There will be no loss of interest and apparently outgoing customers will have the interest included in withdrawals, maybe someone can confirm. There should be some penalty for late interest charges however it can probably bankrupt them by how often this seems recently.

sause- https://www.cnbctv18.com/personal-f...delayed-know-how-to-calculate-it-14877311.htm

 

[jaz6773]

@urbanlegends I switched jobs mid year and had to transfer my PF amount from older to newer account. I did get the interest credited for 2021-22 and interest for subsequent months until the transfer. So can confirm.

 

[sama87]

@jaz6773 How did you transfer it, Can you please let me know the process.