Suja_nm
Hr Professional
Vanithha
Hr - Exe
+1 Other

Cite.Co is a repository of information and resources created by industry seniors and experts sharing their real world insights. Join Network
Friends,
Seeking your inputs/ clarifications regarding the closure/ withdrawal of Provident Fund.
Is there a mandate that PF can be withdrawn only after 60 days from the date of relieving?
Other than Form 19 & Form 10 C, are employees required to submit an affidavit?
This affidavit would state about his/her employment details, and not being employed with any other orgsn since his relieving from his previous orgsn. Is this affidavit also to be notarized by a notary officer?
Appreciate if anybody could throw some light on this.
Thanks in advance!

FORWARDING A REPLY FROM MADHU - THIS MAY HELP YOU.....thanks, Vanitha.

Indemnity bond / affidavit for PF withdrawal

The PF authorities might have asked for indemnity bond following scheme 72 (6)(ii) of the Employees Provident Fund Schemes. Correct me if I am wrong. According to the said provision, if an employee's account remains unclaimed for three years from the date on which the amount became due, the same will be transferred to Unclaimed Deposit Account. When a claim comes after such transfer, the amount will be paid out of it but only after a confirmation that the claimant is the member or is the authorised to claim the amount as spouse or children nominated by the member before his death. You can mention the reason for not withdrawing the PF as " I kept the account pending for transfer to new account when I get employed in a new establishment but unfortunately, that did not happen and in the due course, and due to oversight, I missed to withdraw the funds". The bond/ affidavit shall be made in the presence of Notary public. In case, you had an overseas assignment for these three years, you can mention that you left India but not permanently but with an idea of coming back to India and to take up employment but failed to get into. Regards, Madhu.T.K


Attached Files
File Type: doc INDEMNITY CUM AFFIDAVIT TOWARDS PF WITHDRAWAL.doc (21.5 KB, 4959 views)

Dear sir/madam,
it's simple hand written declaration from employee "why he\she is not filed application for withdrwal. It's attested by the employer/manager who looks after the pf matters in company.

Please conclude, an Affadavit is required or a simple letter endorsed by employer is sufficient
This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network.
Add the url of this thread if you want to cite this discussion.






About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2020 Cite.Co™