Labour Law & Hr Consultant

Cite.Co is a repository of information and resources created by industry seniors and experts sharing their real world insights. Join Network
I had been employed with a private organization for last 11 years. Now I have a central govt. job offer where I will be having NPS instead of PF.
In such case experts please advise.
1)If i can leave my PF balance as it is without closing my account and keep on earning interest.
Also please tell what will be the income tax rules in this case.
2)If i should redeem my PF balance.Also please tell what will be the income tax rules in this case.

From India, New Delhi
Dear experts Please share some insight on above
From India, New Delhi
EPF applicable to industrial employees is maintained mostly by the EPFO created under the EPF Act, 1952.
CPF applicable to Govt Departmental Employees is maintained by the AGs. Therefore, you cannot club them.
Once you cease to be a member of the Fund, you have to withdraw the entire proceeds. I don't think that the sum in the credit would earn interest forever once you are not a member of the Scheme.

From India, Salem
Please Login To Add Reply

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2020 Cite.Co™