Dear All Concern person,
Greetings of the Day !!!
Please help me in clearing my doubt about PF withdrawal. As I studied in newspaper that further from PF account, an employee can withdraw his share with interest and employers contribution can only be withdrawn only after attaining the retirement age. But regarding same I have not get any legal notification yet. Kindly guide me on the subjected matter.
Regards
Mamta
Human Resource
From India, Dehra Dun
Greetings of the Day !!!
Please help me in clearing my doubt about PF withdrawal. As I studied in newspaper that further from PF account, an employee can withdraw his share with interest and employers contribution can only be withdrawn only after attaining the retirement age. But regarding same I have not get any legal notification yet. Kindly guide me on the subjected matter.
Regards
Mamta
Human Resource
From India, Dehra Dun
Hi Mamtha
All the notifications will not be shared to the employer.
You are right, as you read in news paper employee will not be able to withdraw 100% of EE 7 ER contribution. He/She can withdraw only upto 90% of employee contribution only before 58 years balance amount shall be claimed only after retirement age
From India, Bangalore
633All the notifications will not be shared to the employer.
You are right, as you read in news paper employee will not be able to withdraw 100% of EE 7 ER contribution. He/She can withdraw only upto 90% of employee contribution only before 58 years balance amount shall be claimed only after retirement age
From India, Bangalore
you can forward to PF department. let them process the amount that they want to process. Its between EE 7 PF department
From India, Bangalore
From India, Bangalore
Hai Mamta,
In the month of February-2016 EPFO has made notification, which states-
The Central Board, or where so authorised by the Central Board, the Commissioner, or any officer subordinate to
him, may, on an application made by a member in such form as may be specified, authorise payment to him from his
provident fund account not exceeding his own total contribution including interest thereon up to the date the payment has
been authorised on ceasing to be an employee in any establishment to which the Act applies.
(2) The member making an application for withdrawal under sub- paragraph (1) shall not be employed in any factory or
other establishment, to which the Act applies, for a continuous period of not less than two months immediately preceding
the date on which such application is made :
Provided that the requirement of two months’ period referred to in sub-paragraph (2) shall not apply in cases of
female members resigning from the services of the establishment for the purpose of getting married or on account of
pregnancy or child birth.”.
Therefore only employee contribution with interest can be withdrawn and employer contribution can be withdrawn only after completion of 58 yrs.
This ammendment is against employee.
Regards,
Somesh.L
Bangalore
9900251823
From India, Bangalore
In the month of February-2016 EPFO has made notification, which states-
The Central Board, or where so authorised by the Central Board, the Commissioner, or any officer subordinate to
him, may, on an application made by a member in such form as may be specified, authorise payment to him from his
provident fund account not exceeding his own total contribution including interest thereon up to the date the payment has
been authorised on ceasing to be an employee in any establishment to which the Act applies.
(2) The member making an application for withdrawal under sub- paragraph (1) shall not be employed in any factory or
other establishment, to which the Act applies, for a continuous period of not less than two months immediately preceding
the date on which such application is made :
Provided that the requirement of two months’ period referred to in sub-paragraph (2) shall not apply in cases of
female members resigning from the services of the establishment for the purpose of getting married or on account of
pregnancy or child birth.”.
Therefore only employee contribution with interest can be withdrawn and employer contribution can be withdrawn only after completion of 58 yrs.
This ammendment is against employee.
Regards,
Somesh.L
Bangalore
9900251823
From India, Bangalore
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PF Amendments.zip
Trouble Ahead_ I-T Dept Tells EPFO to Tax Premature PF Withdrawals.pdf
WITHDRAWALS from PF accumulations.d oc