hi
i am told by my previous employer that if services of an employee is less than 6 months, than after joining new compnay they cant withdraw thier PF. the only option is tranfer.
also the tenure of services is counted from 1 month after the actual date of joining.
i never knew abt such rules in PF
pls throw some light on the issue
From India, Khopoli
5i am told by my previous employer that if services of an employee is less than 6 months, than after joining new compnay they cant withdraw thier PF. the only option is tranfer.
also the tenure of services is counted from 1 month after the actual date of joining.
i never knew abt such rules in PF
pls throw some light on the issue
From India, Khopoli
Hi Nidhi,
As of now there is no such rules restrict an employee to withdraw etc.
An employee is free to ask for withdrawal and transfer as per his choice.
It is mandatory an employee on mustur rolls, should be convered under PF Act from the day one i.e day of joining the organisation. There is no such clauses that an employee should complete one month etc. But do not default in complying with PF rules & regulations.
All with best
S.Amarnath
From India, Bangalore
As of now there is no such rules restrict an employee to withdraw etc.
An employee is free to ask for withdrawal and transfer as per his choice.
It is mandatory an employee on mustur rolls, should be convered under PF Act from the day one i.e day of joining the organisation. There is no such clauses that an employee should complete one month etc. But do not default in complying with PF rules & regulations.
All with best
S.Amarnath
From India, Bangalore
Hi
If you are governed under EPF, you can withdraw PF accumulation (in case of severance) under two circumstances
1. You have to give a declaration in the withdrawal form that you are not employed anywhere else for the last two months.
2. You are employed at a place to which the EPF Act does not apply.
There is no other conditions. As per law, the employer is bound to deduct PF contribution for each and every employee from wages and deposit the same with the EPF authorities along with equal contribution from his side.
Sunil
From India, Mumbai
If you are governed under EPF, you can withdraw PF accumulation (in case of severance) under two circumstances
1. You have to give a declaration in the withdrawal form that you are not employed anywhere else for the last two months.
2. You are employed at a place to which the EPF Act does not apply.
There is no other conditions. As per law, the employer is bound to deduct PF contribution for each and every employee from wages and deposit the same with the EPF authorities along with equal contribution from his side.
Sunil
From India, Mumbai
Hi,
In case of members who have a membership period less than six months, wish to withdraw their contributions, FPS Contribution will not be considered for settlement. That is why, the members who have put in less than six months of service are advised not to withdraw but to transfer their membership instead.
In case of members who have a membership period less than six months, wish to withdraw their contributions, FPS Contribution will not be considered for settlement. That is why, the members who have put in less than six months of service are advised not to withdraw but to transfer their membership instead.
hi
as one of you has wuoted that in case of less than 6 months service, FPS contibution is not considered for settlement, that is the doubt with me.
some are in favour ans some are saying there is no such rule.
and even if it is true, than is this the criteria that PF authorities start calcuklating 6 onths of service after 1 month, as the contibution goes after 1 month of joining.
for example: i joined on 6-mar-06 and left on 29-sep-06.
than for my withfrawl wht tenure wud be considered : 7 months or 6 months
From India, Khopoli
as one of you has wuoted that in case of less than 6 months service, FPS contibution is not considered for settlement, that is the doubt with me.
some are in favour ans some are saying there is no such rule.
and even if it is true, than is this the criteria that PF authorities start calcuklating 6 onths of service after 1 month, as the contibution goes after 1 month of joining.
for example: i joined on 6-mar-06 and left on 29-sep-06.
than for my withfrawl wht tenure wud be considered : 7 months or 6 months
From India, Khopoli
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PF Withdrawl.doc
Online PF Withdrawl Process.pdf