dasutpal Started The Discussion:
Last month i have got a amount of pf from my previous company.When i confirm i came to know that balance amount of my pf is in pension scheme.I worked for the company for 7years.
Now i want to withdrawal the pension amount early.is there any option for this?if yes how can i do this?
You might have worked for 10 years and above and that is why you did not get withdrawal benefit of pension fund but instead got a scheme certificate. You can keep it safe and can avail monthly pension on your attaining the age of 58. If, in future, you wish to discontinue your own business and join a company as an employee, then you can surrender this certificate and by doing so your past service will be added to the one which you engage and your pension will then be calculated after considering the past service also. Also, on the happening of any unfortunate thing to the holder of scheme certificate, family will start getting pension.
For employees working in the gulf
Should you leave your service as a result of resignation then the amount contributed into your account as pension fund is paid to the employee,
Should the employee join another organization the employee has 2 options
1. Take the amount paid to him to be added to his new pension scheme which is called “service annexation” i.e. previous service to be added to the new service under the new scheme
2. Start all over again as if he has not worked and keep the money in his pocket. Its entirely up to the employee
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