I am required to submit an indemnity bond to withdraw my PF account, which has been inactive for over 3 years now. I need to mention the reason for not withdrawing my PF until now. Can someone help me with what reason I should write there? I didn't have any specific reason for not withdrawing.
Please let me know if you need any further assistance or information.
From India, Hyderabad
Acknowledge(0)
Amend(0)
Please let me know if you need any further assistance or information.
From India, Hyderabad
Acknowledge(0)Amend(0)
The PF authorities might have asked for an 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 the Unclaimed Deposit Account. When a claim comes after such transfer, the amount will be paid out of it but only after confirmation that the claimant is the member or is authorized to claim the amount as a 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 a new account when I get employed in a new establishment, but unfortunately, that did not happen, and in the due course, due to oversight, I missed to withdraw the funds." The bond/affidavit shall be made in the presence of a Notary public. In case you had an overseas assignment for these three years, you can mention that you left India but not permanently, with an idea of coming back to India and to take up employment but failed to get into.
Regards, Madhu.T.K
From India, Kannur
Acknowledge(0)Amend(0)
4483You can mention the reason for not withdrawing the PF as "I kept the account pending for transfer to a new account when I get employed in a new establishment, but unfortunately, that did not happen, and in the due course, due to oversight, I missed to withdraw the funds." The bond/affidavit shall be made in the presence of a Notary public. In case you had an overseas assignment for these three years, you can mention that you left India but not permanently, with an idea of coming back to India and to take up employment but failed to get into.
Regards, Madhu.T.K
From India, Kannur
Acknowledge(0)Amend(0)
I have encountered one similar case where the employee was told to give an explanation in writing on plain paper along with an attested photocopy of any photo ID. However, no indemnity bond was required, and the claim was subsequently settled. It is advisable to clarify with the PF office regarding their specific requirements.
Acknowledge(0)Amend(0)
Acknowledge(0)Amend(0)
Thank you, Madhu, for the suggestion. Your observation is correct. Since three years have passed without any activity in the account, hence the requirement for the indemnity bond and affidavit. It needs to be done on a Rs 100 stamp paper in the presence of a first-class magistrate and then a public notary.
Thanks, Sugata, for your response.
From India, Hyderabad
Acknowledge(0)Amend(0)
Thanks, Sugata, for your response.
From India, Hyderabad
Acknowledge(0)Amend(0)
My sister-in-law worked at ICICI Bank until her death. I want to submit a claim for her pension and withdrawal of her PF. I need an indemnity bond format for the nominee. Please help me.
Jitendra Kasliwal
9423028039
H-1, Kasliwal Estate, Deshmukh Nagar, Aurangabad
From India, Aurangabad
Acknowledge(0)Amend(0)
Jitendra Kasliwal
9423028039
H-1, Kasliwal Estate, Deshmukh Nagar, Aurangabad
From India, Aurangabad
Acknowledge(0)Amend(0)
My claim was rejected for want of indemnity bond. Do I need resubmit the other forms or just the indemnity bond will suffice ?
From India, Pune
Acknowledge(0)Amend(0)
From India, Pune
Acknowledge(0)Amend(0)
I am still yet to get my PF since 2005. Now, the company I was working in Kerala is closed down, but my PF was transferred from Kerala to Karnataka. I received a letter now saying that I am supposed to provide the following:
1. Xerox copy of passbook,
2. Affidavit cum indemnity bond
3. ID proof.
Since I am out of India, can anyone let me know how to handle this situation and what exactly is this Affidavit cum indemnity bond.
Regards
From Bahrain, Manama
Acknowledge(0)Amend(0)
1. Xerox copy of passbook,
2. Affidavit cum indemnity bond
3. ID proof.
Since I am out of India, can anyone let me know how to handle this situation and what exactly is this Affidavit cum indemnity bond.
Regards
From Bahrain, Manama
Acknowledge(0)Amend(0)Gathering data for an AI comment.... Sending emails to relevant members...
Stuck with an HR fire? Get a verified answer before your next coffee. - Join Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.
PF ONLINE WITHDRAWAL PROCESS-(19 & 10C)-2.PDF
INDEMNITY CUM AFFIDAVIT TOWARDS PF WITHDRAWAL.doc