+1 Other
Dear All, In our organization some of the employees have quit after 4 months of service, in such a case i wanted to know are they eligible to get full 24% of the PF amount i.e both employee and employer contribution. So what is the minimum service to get complete 24% of amount........... Regards Amith R.
From India, Bangalore
From India, Bangalore
Hi Vasanth, Thanks for your contribution.......... Let me share with you that it is not 5 years as per my knowledge, it is either 6 months or 1 year. Members please confirm me.............. Regards Amith R.
From India, Bangalore
From India, Bangalore
In order to get full 24% of PF amount, an employee should work for minimum 6 months. If not he will not get the pension fund i.e 8.33% of PF contribution. Balance he will get. regards, Manjula
From India, Madras
From India, Madras
Hi, Thanks a lot Harpreet and Manjula. So it is clear for me that he/she will get 15.67% overall if the total service is less than 6 months. Regards Amith R.
From India, Bangalore
From India, Bangalore
Hi All PF is an amount earned by the employee and the company is obliged to pay it to the employee irrespective of the duration of employment. Even if the employee stays with a company for 1 month and his payroll is processed for that month then the PF amount has to be credited to his PF account both from his side as well as the employers side. Gratuity is the amount that will be paid to an employee if he stays with a company for 5 yrs and more. Regards Reshma
From India, Bangalore
From India, Bangalore
Dear Vasanth, According to the P F Act minimum six month service is required for getting PF. Sathish Bangalore.
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#Subject List: pension scheme City-India-Bangalore provident fund employer contribution pf withdrawal payment of gratuity pf account pf contribution employee pension form 19 employee pension scheme pension fund Country-India
Early PF withdrawal won’t be easy.pdf
Guide Lines for PF Withdrawal.doc
