1. #1
    Unregistered

    Loan amount was settled with my PF amount, which I had never taken

    I had left the organization 3 years back and had applied for the PF 6 months back. I should have got Rs.50000 as my PF for the salary I took from that company. But they only credited Rs.10000 and remaining was settled towards the loan which I had taken. I had not taken any loan and whatever I had taken the loan was payment before leaving the job. I have loan settlement receipt from the same company. What should I do in this case? Is there any norm that the amount pending should be taken from the PF amount of the employee? Please suggest.

  2. #2
    ealp Array
    Join Date
    Oct 2012
    Posts
    250

    Re: Loan amount was settled with my PF amount, which I had never taken

    Dear questioner it is never possible during the time of active employee I repayed loan but when I left the company getting better opportunity then the previous company again deducted Rs.40000/- as loan amount, It is quite imposible earlier when you repaid loan amount then loan a/c setteled.Ther is due balance ie closed a/c.Now the question the company deducted your p/F where they will post the amount as a/c has already been closed.

    You have got Rs. 10000/- out of Rs.50000/-and rest amount as per company deducted for the purpose of loan amount if you have loan then it is right process.But as per you there is no pending loan you have the receipts so you need not be worry just give a plain application along with zerox copy and demand refund of Rs.40000/- as quickly as possible with interest.If they deducted the amount wrongly then you will get the fund with interest legally.

    Thank you.

+ Reply to Thread

Similar Threads

  1. Double amount is deducted from my salary for the loan I have taken
    By Unregistered in forum Professional Discussions
    Replies: 5
    Last Post: 22-08-2013, 07:37 PM
  2. Replies: 22
    Last Post: 14-12-2012, 11:15 AM
  3. Do they deduct the loan amount taken from office from my bonus amount?
    By Unregistered in forum Professional Discussions
    Replies: 9
    Last Post: 24-11-2012, 05:42 PM
  4. Can I take Loan from PF amount of my company?
    By Unregistered in forum Professional Discussions
    Replies: 2
    Last Post: 08-10-2012, 10:18 PM
  5. Replies: 1
    Last Post: 15-08-2012, 01:24 AM