Saswatabanerjee
Partner - Risk Management
Dixonjose02
Sr. Hr Manager
Tanveer@asha
Hr Executive
+5 Others

Thread Started by #vistamind

Hi Seniors,
I have been working with a Software Firm in Bangalore since November 2012.I am planning to go in for higher studies .So i will be quitting the company this April, exactly 5 months after joining and before completing 6 months. I was told by my finance department that i will not be eligible to claim my 5 months PF amount as it is less than 6 months of service and since it cannot be transferred to another corporate account (Due to Higher Studies) .
Please let me know if it will be lapsed or is there any way in which i can claim my PF amount with this 5 Months experience as i have invested a bit more money into it .
Please guide me ...
18th April 2013 From India, Bangalore
You can withdraw the PF contribution of 5 month service, although the contribution towards EPS cannot be claimed due to less than 6 mths service.
In my view there should not be any problem in tansferring the PF dues to another company, once u start working again. Apply for transfer to the new company.
rgds
Dixon
Tata Trent, Pune
18th April 2013 From India, Mumbai
@Dixon :Thanks for the quick reply !!
Since i will not be able to work for next two years due to HIGHER STUDIES , will i still be able to claim that PF amount after i join the company later .[FINANCE MANAGER says data will not be maintained for more than 2 years so there are more chances of loosing the PF ] how far is this true ?
18th April 2013 From India, Bangalore
The data of PF is maintained by PF office also & not by the company alone; Along with the monthly payment, all relevant data is required to be uploaded in the PF website.
So don't worry, your money will not go anywhere even after 2 yrs gap. Keep your payslips safely a/w the full PF no.
rgds
dixon
18th April 2013 From India, Mumbai
As Dixon said, you are eligible to claim for Form 19 only, you can’t claim Form 10C regards, Ven
19th April 2013 From India, Hyderabad
you are eligible to get ur pf deduction and epf amount not eps amount.
it is better to apply the pf now, suppose if your are going to apply after 2 years it \'ll take long time to get the amount. its having some of the formalities to apply the late withdrawal.
19th April 2013 From India, Madras
You can withdraw PF even after 2 yrs though your employer refuse to sign Form 19 because from 1.7. 13 PF withdrawal is going to be online. VARGHESE MATHEW 9961266966
19th April 2013 From India, Thiruvananthapuram
The way your manager is handling the thing makes me think of 2 possibilities :
- that he is trying to frighten you so you don't leave yet (pending project ?)
- the company is not paying your PF though it is deducted.
As per current rules, everyone is to be issued a PF number as soon as they join.
So take your PF number, get on the PF website and check the balance.
If the balance is showing, then the money is safe for you till you want it.
Interest will be paid for 3 years, but money in your account t will remain till you withdraw it.
I have a case on my own office where a person is applying for withdrawal after 5 years. No issue faced as such
20th April 2013 From India, Mumbai
What Mr.Varghese Mathew has mentioned is correct... Ramnath
20th April 2013 From India, Lucknow
Dear Sir, Please provide the notification of PF online withdrawal which is applicable from 01.07.2013 as written by you. Regards, Pawan Thakur
21st April 2013 From India, Shimla
@ Tanveer : Sir ,I have already applied for the PF as directed .Thanks for the feedback.
@Varghese Mathew : Sir Thanks !! That was a sigh of a relief .I will keep track of it through online mode as mentioned from 1/7/13.I will contact you if in case i have more queries regarding the same.
@Saswata Banerjee :I appreciate your concern and feedback .It's not the first case , They have no issues regarding my termination of employment due to project.But its true wrt to second point.I will do as per your directions and try to check out my PF balance online .
2nd May 2013 From India, Bangalore
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