Just to give an intro, I worked for Company A [5 years] in India. Then I joined Company B [Indian Company] in US-Onsite, almost 1 1/2 year back. So when I left Company A, I had PF account because I was on Indian Payroll. Now I'm in USD payroll - Company - B. Not enrolled in Indian Pay. I was told by HR from Company A whether I can close the PF and get the money. As per them, following are the 2 options.
--> For a Withdrawal, I need to provide a declaration Letter stating that you will not be working in any other company, since as per the PF New rules need to provide
--> 2nd option is Transfer.
Otherwise they won't be able to process. If both the option is not possible, amount will remain in the my account.
As per above,
I cannot go for option A, because I cannot declare I won't join/work for any company.
Also I can't choose Option B, because I'm not in Indian Payroll. No new P/F account to transfer.
How long the PF office will keep the money in my account ?
I would really appreciate, if could someone please let me know if there are any new PF rules about this declaration letter.
15th September 2007 From United States, Chicago
Discuss problems openly with your peers around the world without getting into company specifics. Access to years of such problem discussion data and business material is at your finger tips.
All resources created by our members are available to everyone at no cost.