Hi,
Some employees are resigning for PF withdrawal and rejoining immediately (next day of resignation). Please advise on how to stop these activities. Is it possible legally to allow them to resign and withdraw the amount? Also, have we generated the UAN number and submitted the KYC details for all?
Regards,
Jeetendra Madahale
From India, Bangalore
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Some employees are resigning for PF withdrawal and rejoining immediately (next day of resignation). Please advise on how to stop these activities. Is it possible legally to allow them to resign and withdraw the amount? Also, have we generated the UAN number and submitted the KYC details for all?
Regards,
Jeetendra Madahale
From India, Bangalore
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Hi Madhale,
1. Please inform them that employees who have worked for more than 10 years are all eligible to receive a pension after reaching the age of 50 or 58.
2. Once a UAN is allotted, it should not be changed throughout their entire employment period. (Each member should have only one UAN number.)
3. In the meantime, if they require an advance from EPFO, employees who have completed a minimum of 5 years of service are eligible to apply for an advance.
Regards,
Murugan P
From India,
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121. Please inform them that employees who have worked for more than 10 years are all eligible to receive a pension after reaching the age of 50 or 58.
2. Once a UAN is allotted, it should not be changed throughout their entire employment period. (Each member should have only one UAN number.)
3. In the meantime, if they require an advance from EPFO, employees who have completed a minimum of 5 years of service are eligible to apply for an advance.
Regards,
Murugan P
From India,
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Hello,
Now one has to wait at least 2 months of non-employment for EPF withdrawal. If someone resigned on 30-09-2015, then they have to wait until 30-11-2015 to apply for EPF withdrawal. So, it is illegal what your employees are doing; please stop it. This information is provided in the act.
Stay cool. Atomz
From India, Phagwara
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Now one has to wait at least 2 months of non-employment for EPF withdrawal. If someone resigned on 30-09-2015, then they have to wait until 30-11-2015 to apply for EPF withdrawal. So, it is illegal what your employees are doing; please stop it. This information is provided in the act.
Stay cool. Atomz
From India, Phagwara
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It is illegal, and you should inform the employee accordingly.
If you sign the withdrawal form, you will be liable for fraud, and the PF department can actually recover the amount from you. In fact, if you know this has been done without your approval, you need to inform the department.
I think when you start paying the PF again in the same UAN, this will automatically be detected, and the process stopped.
From India, Mumbai
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If you sign the withdrawal form, you will be liable for fraud, and the PF department can actually recover the amount from you. In fact, if you know this has been done without your approval, you need to inform the department.
I think when you start paying the PF again in the same UAN, this will automatically be detected, and the process stopped.
From India, Mumbai
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Thanks, we are advising them. After that, they are resigning. Because of this, we are losing some good candidates. They are resigning and joining other companies.
From India, Bangalore
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From India, Bangalore
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Hi Saswata Banerjee,
Thank you for the advice. We have guided many employees, but after that, they have resigned and joined other companies, resulting in withdrawals.
We are facing the same issue with our workers. Due to this, we have lost some good candidates. For example, employees are withdrawing funds and investing the same amount elsewhere.
Best Regards,
Jeetendra Madahale
Mob: 9741268652
From India, Bangalore
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Thank you for the advice. We have guided many employees, but after that, they have resigned and joined other companies, resulting in withdrawals.
We are facing the same issue with our workers. Due to this, we have lost some good candidates. For example, employees are withdrawing funds and investing the same amount elsewhere.
Best Regards,
Jeetendra Madahale
Mob: 9741268652
From India, Bangalore
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If someone behaves in an unethical manner and falsifies information in a form, you cannot do anything about it. Make sure you are not an accomplice in the fraud.
You can, of course, report the matter to the HR department. You can go and meet the PRO or vigilance team and inform them of cases where people have joined other companies but falsely reported that they have stopped working. However, few will bother to do that.
From India, Mumbai
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You can, of course, report the matter to the HR department. You can go and meet the PRO or vigilance team and inform them of cases where people have joined other companies but falsely reported that they have stopped working. However, few will bother to do that.
From India, Mumbai
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Early PF withdrawal won’t be easy.pdf
Guide Lines for PF Withdrawal.doc