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Search for "Pf Withdrawals After Attaining 58 Years"


Pf withdrawals
Hi all i would like to bring to your kind attention and the necessary guidance seeking from you on my pf withdrawal process. i have resigned from company on 23mar2014 after completion of closely 6 years of continues working with this company. on july2015 i was applied for withdrawal my pf amount and for this i have submitted all the necessary application documents to my company. few days later i got a written email communication from the company stating that the provident fund organization has stopped to receive the pf withdrawal applications from the organizations except the retirement or death cases. and further i don t get any information on this from my company. now i would like to request herewith to know when can the provident fund organization will lift this ban and allow the pf withdrawal applications for further process? and also i came to know that the pf withdrawals policy is going to get change by allowing only 75 of pf withdrawals and remaining 25 withdrawals will be keep in the account till the account holder age completes of 58 years. please confirm this will we get any interest rate for this amount from the provident fund organization during this period? requesting your kind reply soon on this.
Pf withdrawal rule changes (recent)
Latest amendments in the epf scheme say that : 1.full epf amount cannot be withdrawn by the member before attaining the retirement age. i.e. 58 years. new rule : under para 68 nnnn the epf members cannot withdraw full pf amount both shares before attaining the age of 58 years. an outgoing employee can withdraw only his contributions interest thereon. the employers portion i.e. 3.67 can be withdrawn after attaining the retirement age of 58 years which is retained with epfo for continuity of epf membership. 2.increase in age limit i.e. 54 to 57 for withdrawal of 90 of pf amount under para 68 nn. epfo has issued circular to stop sending form 10 & 19 for withdrawal. my question is per rule 1 i can still withdraw my contribution & interest thereon upon cessation of my employment. then why the rule 2 ? hr pls advise. can i withdraw my pf now ? & how ? is there any agebarrier or lock in period to be able to do this ? request reply with citings. nb
Pf after age of 58 years
Dear sir after attaining age of 58 years one sr. staff is extended his services for two years more. can we continue his p.f.deduction both share in p.f. column & pension amount will be zero & we can fillup 10d for pension .whether legally it is o.k. kindly advice pl. regards shailesh pandey
Can employer make advance payment to epfo for an employee attaining 58 years?
Hi please help me for this issue. an employee is attaining 58 years by 14 december 2017 can i able to make payment for his eps in advance? if yes kindly share your suggestions and ideas. thanks in advance uday kumar
*an employee shall retire from the service of the company on attaining the age of 58 years.* - what is a meaning of this?
An employee shall retire from the service of the company on attaining the age of 58 years. what is a meaning of this? 1does it means day of retirement shall be the last day of completing 57 years i.e. one day day prior to birthday when 57 years are completed & on next day 58 year shall start? or 2it shall be last day of completing 58 years ? and on next day 59 year will start? which option of above is legally correct?
Amendment in epf withdrawal rules & retirement age - with effect from february 2016
Dear all the ministry of labour and employment government of india has recently made a few amendments in the employees provident fund scheme 1952 pf scheme. these guidelines are mainly related to early withdrawals from provident fund & provisions related to pf. new rule: the epf members cannot withdraw full pf amount before attaining the age of retirement. the maximum withdrawal on cessation of employment cannot exceed an amount aggregating employees own contribution and interest accrued thereon. i.e a person separated employee can withdraw their contributions interest portion only. the employers portion can be withdrawn after attaining the retirement age 58 years. continuity of epf membership: existing rule: if an employee withdraws full epf amount after resigning from the job his/her pf membership is deemed to be terminated. that means he/she is not a member of epf scheme after the full withdrawal. new rule: an employee can only withdraw his share on resigning from the job. a person separated employee cannot withdraw full epf amount before attaining the retirement age 58yrs. so a person separated employee will still be the member of epf even if a person separated employee cease to be an employee of a epf covered establishment. retirement age existing rule: the retirement age is considered as 55 years. new rule: the age of retirement has now been increased from 55 to 58 years. note: the detailed official notification is attached for your reference please