Hi friends,
I am working for a private firm from april 2008. As i am travelling to australia, on 5th september i gave my resignation. I have to travel by 27 september 2008. So i will be relieved fron my responsibilities on 26th september 2008. I wanted to know whether the company people deposit PF for the whole month or till 26 september 2008? If in case i withdraw my PF money, will i get both employee and employer's contribution along with the interest?
From India, Bangalore
I am working for a private firm from april 2008. As i am travelling to australia, on 5th september i gave my resignation. I have to travel by 27 september 2008. So i will be relieved fron my responsibilities on 26th september 2008. I wanted to know whether the company people deposit PF for the whole month or till 26 september 2008? If in case i withdraw my PF money, will i get both employee and employer's contribution along with the interest?
From India, Bangalore
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From India, Bangalore
From India, Bangalore
Vidya,
It is only for 26 days u wil be paid. Ofcourse u will get the entire contribution u have made and the employer with interest. Incase if u have served less than six months in that organization then u are not entitled for EPF contribution.
From India, New Delhi
32It is only for 26 days u wil be paid. Ofcourse u will get the entire contribution u have made and the employer with interest. Incase if u have served less than six months in that organization then u are not entitled for EPF contribution.
From India, New Delhi
Yup...Pratima is right. You'll get it for 26days provided you have worked in the company for 6 months. If not, you can claim the amount by submitting the PF form along with your previous company's forms if any so that the total number of working days is 6months or more.
From India, Mumbai
From India, Mumbai
I will be completing 6months on 30th september 2008. If i get relieved on 26th, i will lose my PF benifits. right?
From India, Bangalore
From India, Bangalore
This is my first company. I have joined here as a fresher. Will i lose my entire PF benefits if i quit the company before 6months?
From India, Bangalore
From India, Bangalore
hi vidya, In that case u will not be entitled for EPF contribution since u have not completed 6months
From India, New Delhi
From India, New Delhi
Hi prathima, Thanks a lot. So according to you it is better for me to work till 30th sept, so that i will complete 6months of service and avail PF benefits. Regards, vidya
From India, Bangalore
From India, Bangalore
Dear Vidya,
There is contribution as follows
e.g. If your basic salary is 100 Rs Pf deduction from your salary will be Rs 12 (i.e 12 % of Basic salary)
And the same amount Rs 12 (i.e 12 % of Basic salary) will be contributed by your employer.
Now There is amount of 24 rs towards Pf contribution
But the break up of the 24 is as follows:
12 ( Deducted from your salary goes to Provident fund)
8.33( This is contribution of employer which goes to Family Pension) and the remaining i.e 3.67 will goes to Provident fund.
Now we will go to your concern,
If you leave the company before completion of 6 months you will lose the amount of family pension (8.33 %) but you can get the remaining amount.
regards,
Rahul
From India, Bangalore
There is contribution as follows
e.g. If your basic salary is 100 Rs Pf deduction from your salary will be Rs 12 (i.e 12 % of Basic salary)
And the same amount Rs 12 (i.e 12 % of Basic salary) will be contributed by your employer.
Now There is amount of 24 rs towards Pf contribution
But the break up of the 24 is as follows:
12 ( Deducted from your salary goes to Provident fund)
8.33( This is contribution of employer which goes to Family Pension) and the remaining i.e 3.67 will goes to Provident fund.
Now we will go to your concern,
If you leave the company before completion of 6 months you will lose the amount of family pension (8.33 %) but you can get the remaining amount.
regards,
Rahul
From India, Bangalore
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PF Calculation Sheet To The Subscribers At the Time Of Provident Fund Withdrawal.pdf
Provident fund.zip
PROVIDENT FUND.rar