An employee's Provident Fund statement is shown in the attachment. The person joined on 01-07-2016 and resigned on 31-12-2017. He would like to withdraw his Provident Fund, and we have initiated the same. What is the amount he will receive? Will he receive "Employee's Share + Employer's Share + Pension Contribution" or only "Employee's Share + Employer's Share"? According to him, he claims he should receive Employee's Share + Employer's Share + Pension Contribution. Is this correct? What is the amount he will get? Please see the image for full details. Thank you.
Acknowledge(0)
Amend(0)
1Acknowledge(0)Amend(0)
As his total working years are less than 10 years, he will receive the entire amount, including the pension fund amount, upon withdrawal. In his case, he will receive the entire employee's share of PF amount, the employer's share of PF amount, and the pension fund amount.
Regards,
Manish
From India, Ahmedabad
Acknowledge(0)Amend(0)
Regards,
Manish
From India, Ahmedabad
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Provident Fund - Excluded Employee - Definition.pdf