I would like to know the procedure for PF withdrawal for international workers. They are from Spain and have paid contributions to the PF account under RPFC Bangalore. We kindly request you to send the provisions, procedures, and forms for claiming PF withdrawal.
From India
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3From India
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Dear Shepur,
PF rules are different for International Workers as compared to the residents. As of now, India has a SSA (social security agreement) with a dozen of countries, and only residents of these countries can get their EPFO deposits transferred to the Social Security schemes of their respective countries. Others can only withdraw once they achieve the age of 58, and sadly, they would have to visit India for it. The good thing is that they will continue to get interest on their deposits till they withdraw at 58.
I had a tough time sorting this out for some of my expat friends from Colombia and Greece. There is no SSA with both these countries. However, it's intelligent to keep the PF deposits in India as EPFO interest rates are much higher than what is usually offered in the west.
Hope it helps.
Regards,
Rahul
From India, Delhi
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PF rules are different for International Workers as compared to the residents. As of now, India has a SSA (social security agreement) with a dozen of countries, and only residents of these countries can get their EPFO deposits transferred to the Social Security schemes of their respective countries. Others can only withdraw once they achieve the age of 58, and sadly, they would have to visit India for it. The good thing is that they will continue to get interest on their deposits till they withdraw at 58.
I had a tough time sorting this out for some of my expat friends from Colombia and Greece. There is no SSA with both these countries. However, it's intelligent to keep the PF deposits in India as EPFO interest rates are much higher than what is usually offered in the west.
Hope it helps.
Regards,
Rahul
From India, Delhi
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PF-Internationa l workers.pdf
PF notfications - International Workers.doc