Dear All,
My query relates to the withdrawal of PF amount....
I was working with the Retail Company and about three months before shifted to a MNC ....I worked there for exactly for 1 year 8 months and now would like to withdrawn the PF amount....
Should I do Withdrawn the amount or transfer it to my new PF account ?If I withdrawn then would there be any deductions as our retail company has there own trust...
I have also spoken in the operations team and they have said that claming PF would take time........and also they have apprised me that from the last 6 months all the Pf's are pending......Suggest me friends how should I proceed with it.....
Thanks
Shweta Jaitly
From India, Coimbatore
15My query relates to the withdrawal of PF amount....
I was working with the Retail Company and about three months before shifted to a MNC ....I worked there for exactly for 1 year 8 months and now would like to withdrawn the PF amount....
Should I do Withdrawn the amount or transfer it to my new PF account ?If I withdrawn then would there be any deductions as our retail company has there own trust...
I have also spoken in the operations team and they have said that claming PF would take time........and also they have apprised me that from the last 6 months all the Pf's are pending......Suggest me friends how should I proceed with it.....
Thanks
Shweta Jaitly
From India, Coimbatore
Hello sweta
sameer
From India, Thana
- with normal procedure PF withdrwal take 2 to 3 months
- If U have PAYSLIP then U find your PF Account No on slip
- Search valid PF no on PF site :- epfindia.com
- for withdrawal u want to submit form 19 & 10C from old company enclosed with last 2years 3A & SSN form
- for transfer u want to filled form 13 from your current orgnazation.
sameer
From India, Thana
Hi shweta ,
First make yourself know wehter your company(retail) has deposited your
PF amount to the PF authority or no.as you have written from six mnths claims are pending.
generally if everythingis fine then the claims has to get settled within 90 days else the PF authority will have to pay penalty for the delay as per what i know.
secondly it is better to get withdrawn the PF accumalation and start a new as your joing a new good company.
hope it is clear.
For more querries you can mail me to
cheers
Rajeev Dixit
From India, Bangalore
First make yourself know wehter your company(retail) has deposited your
PF amount to the PF authority or no.as you have written from six mnths claims are pending.
generally if everythingis fine then the claims has to get settled within 90 days else the PF authority will have to pay penalty for the delay as per what i know.
secondly it is better to get withdrawn the PF accumalation and start a new as your joing a new good company.
hope it is clear.
For more querries you can mail me to
cheers
Rajeev Dixit
From India, Bangalore
thanks for your replies..Sameer & Rajeev...
I would appreciate if you could help me in this as in our PF moeny goes to our own Trust then it is not directly under govt -----would there be any tax deductions.....
Plz suggest...
From India, Coimbatore
I would appreciate if you could help me in this as in our PF moeny goes to our own Trust then it is not directly under govt -----would there be any tax deductions.....
Plz suggest...
From India, Coimbatore
Dear Shweta, Yes, there would be tax deduction as your are withdrawing the PF within six months.
From India, Madras
From India, Madras
you will withdrwal ur pf after 2 months of date leaving service. u r not able to withdrawal ur pf before two months of date of leaving service. you have to fill form no.19 and form 10C after two months of date of leaving service. and PT will be detucted in ur pf withdrawal....
Dear Ms.Shweta,
If your company is having there own trust then u will get your pf amount from through that trust only. Our pf deduction is divided in to two parts PF. & .EPF, in case of trust also company has to deposit pension amount to government pf office. so that amount you can withdraw from PF Office. for that you need to fill form no. "10 C"
Don't worry you will get your pf amount.
From India, Mumbai
If your company is having there own trust then u will get your pf amount from through that trust only. Our pf deduction is divided in to two parts PF. & .EPF, in case of trust also company has to deposit pension amount to government pf office. so that amount you can withdraw from PF Office. for that you need to fill form no. "10 C"
Don't worry you will get your pf amount.
From India, Mumbai
As of my knowledge if your money in the PF a/c is more then best suggestion is to transfer the money rather than withdraw it.
If u want to transfer the amount the steps will be
1. The new company will opens a new account no.
2. You should fill Form 13 (to transfer the amount form previous employer to current employer) to ur current employer.
3. Your current employer should communicate ur previous employer and as well as thier PF office to transfer the amount from Ex a/c no. to current a/c no.,with that Form 13.
If u want to withdraw the money from the previous a/c means
1. U should fill Form 19 and Form 10C for withdrawal benefits. Previous employer should give the authorised sign in these forms.
2. U should get the bank clearance for ur bank a/c no. thr. Form E5
3. Make sure that they(prevoious employer) have to submit all the above forms to thier PF office along with the proofs for ur PF a/c money i.e. Form 6A & Form 3A and one more proof for Joining n leaving the service i.e. Form 5 & Form 10
If u do perfect submission, and do follow up if possible, ur money will be reaches to ur bank a/cb early.
U've mentioned like PF is pending for the past 6 months in the earlier company.
a) if they have not paid money to PF office (for the last 6 months),
Ex-employer should submit the proofs, whatever they have paid for ur PF, along with forms.
b) Some people will do the payment regularly, but they will not send the Form 3A n Form 6A (they've to submit annually) to the PF office. If that is the case u just ask them to prepare those Form 3A n Form 6A (pending) for u and submit along with the forms.
Is it clear or confusion:?:? iam giving the reply in a hurry.
with regards
Madhavi:icon6:
From India, Bangalore
If u want to transfer the amount the steps will be
1. The new company will opens a new account no.
2. You should fill Form 13 (to transfer the amount form previous employer to current employer) to ur current employer.
3. Your current employer should communicate ur previous employer and as well as thier PF office to transfer the amount from Ex a/c no. to current a/c no.,with that Form 13.
If u want to withdraw the money from the previous a/c means
1. U should fill Form 19 and Form 10C for withdrawal benefits. Previous employer should give the authorised sign in these forms.
2. U should get the bank clearance for ur bank a/c no. thr. Form E5
3. Make sure that they(prevoious employer) have to submit all the above forms to thier PF office along with the proofs for ur PF a/c money i.e. Form 6A & Form 3A and one more proof for Joining n leaving the service i.e. Form 5 & Form 10
If u do perfect submission, and do follow up if possible, ur money will be reaches to ur bank a/cb early.
U've mentioned like PF is pending for the past 6 months in the earlier company.
a) if they have not paid money to PF office (for the last 6 months),
Ex-employer should submit the proofs, whatever they have paid for ur PF, along with forms.
b) Some people will do the payment regularly, but they will not send the Form 3A n Form 6A (they've to submit annually) to the PF office. If that is the case u just ask them to prepare those Form 3A n Form 6A (pending) for u and submit along with the forms.
Is it clear or confusion:?:? iam giving the reply in a hurry.
with regards
Madhavi:icon6:
From India, Bangalore
As Ms Madhavi rightly said, the PF portions (both employer and employee) will only be maintained by the Trust and Pension contributions (@ 8.33% sub. to a max. of Rs.541/-) will be remitted to the PF Office.
Always it is advisable to transfer your PF accumulations, since it is the only savings!!! normally we make. For PF transfer Form 13 to be submitted to your current employer. They will send it to your previous employer (since it is a trust) and a copy to the PF Office, where their account is maintained.
If you want to withdraw, you have to submit Form 19 and Form 10 C. If they do not settle it within a stipulated time (max. three months), you have a right to raise the issue with PF Office on Grievance Redressal Day (I think it is on Monday / Wednesday from 10 AM to 2 PM).
NO TAX DEDUCTIONS WILL BE MADE FROM THE PF SETTLEMENT AMOUNT.
Regards
A B Srinivasan
From India, Madras
Always it is advisable to transfer your PF accumulations, since it is the only savings!!! normally we make. For PF transfer Form 13 to be submitted to your current employer. They will send it to your previous employer (since it is a trust) and a copy to the PF Office, where their account is maintained.
If you want to withdraw, you have to submit Form 19 and Form 10 C. If they do not settle it within a stipulated time (max. three months), you have a right to raise the issue with PF Office on Grievance Redressal Day (I think it is on Monday / Wednesday from 10 AM to 2 PM).
NO TAX DEDUCTIONS WILL BE MADE FROM THE PF SETTLEMENT AMOUNT.
Regards
A B Srinivasan
From India, Madras
Dear Ms Vrinda,
1. Form 19 is used for withdrawing PF amount (ie) PF settlement form
2. Form 10 C is used for withdrawing Pension amount. A member is eligible to withdraw pension contributions, if their services < 10 years or age is < 40 years, they can withdraw the pension amount.
3. Form 3A - PF Annual return statement - Employee wise / monthwise PF contributions should be furnished in the form. It will be like :
PF NO.
MEMBER NAME : ----
---
Month Employee Employer Total Pension
Contributions Contributions
4. Form 6A - Consolidated PF Annual return statement - Employeewise. It will be like ;
PF No. Member Name Total Employee Total Employer Total Pension
Contributions Contributions Contributions
A B Srinivasan
From India, Madras
1. Form 19 is used for withdrawing PF amount (ie) PF settlement form
2. Form 10 C is used for withdrawing Pension amount. A member is eligible to withdraw pension contributions, if their services < 10 years or age is < 40 years, they can withdraw the pension amount.
3. Form 3A - PF Annual return statement - Employee wise / monthwise PF contributions should be furnished in the form. It will be like :
PF NO.
MEMBER NAME : ----
---
Month Employee Employer Total Pension
Contributions Contributions
4. Form 6A - Consolidated PF Annual return statement - Employeewise. It will be like ;
PF No. Member Name Total Employee Total Employer Total Pension
Contributions Contributions Contributions
A B Srinivasan
From India, Madras
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