Hi Shoba
As Neetu said you can withdraw your PF accumulations even if you served for one month also (because that is your money). that means the amount recovered from your salary will be returned along with prevailing interest rate as per the PF act. Where as the equal amount of company contribution will not be returned if your are not served minimum period of six months, that too out of the company contribution (say i.e. 12%), 8.33% will goes to Pension fund and the balance 3.67% will remain in the PF fund. If anybody withdraws the PF amount with out serving six months their PF amount + 9.5% (present prevailing rate of interest) interest +3.67% of the company contribution +9.5% interest will be refunded. The 8.33% of company contribution will be retained by the PF authorities because of administrative difficulties.
For which you have to file Form 19.
Thanks and regards.
Murugan B
HR Manager - Hospitality industry.
09843783385
As Neetu said you can withdraw your PF accumulations even if you served for one month also (because that is your money). that means the amount recovered from your salary will be returned along with prevailing interest rate as per the PF act. Where as the equal amount of company contribution will not be returned if your are not served minimum period of six months, that too out of the company contribution (say i.e. 12%), 8.33% will goes to Pension fund and the balance 3.67% will remain in the PF fund. If anybody withdraws the PF amount with out serving six months their PF amount + 9.5% (present prevailing rate of interest) interest +3.67% of the company contribution +9.5% interest will be refunded. The 8.33% of company contribution will be retained by the PF authorities because of administrative difficulties.
For which you have to file Form 19.
Thanks and regards.
Murugan B
HR Manager - Hospitality industry.
09843783385