Understanding PF Transfers: How to Handle Your Provident Fund When Changing Jobs

Hello everyone,

Can anyone please tell me if an employee leaves his present organization and joins another, then is his PF either given to him or transferred by filling Form 19? If the present organization is giving him PF, is the PF calculated by the company or by the PF officials? Where do I fill the returns?

Please guide me through the procedure.

Regards,
Vicky

Hi,

PF will be calculated by the company when the PF is registered as a trust. When it is deposited with the PF authorities, then the transfer/payment will happen through them.

hrg-rajaram

Hi,

Thank you for your information.

Would you please tell me how the PF is calculated when the employee is leaving his job?

Is it the entire accumulated amount that we are deducting every month (12% of basic) or is there any other way of doing it?

Regards,
Vicky

Hi,

In case of filling the returns, you have to fill Form-19 for PF and Form 10-C for the Pension scheme. The employee will be eligible for the Pension scheme only if he has served the company for more than 6 months. The 12% is divided as 8.33% for PF and the remaining 3.67% to the Pension scheme. Along with Form-19, you have to attach Form-3A for the entire period for which the employee has worked. Form-3A must contain the total contribution (12% of basic) from the Employee and Employer.

Warm regards,
Sangeetha

Hi,

In case of filling the returns, you have to fill out Form-19 for PF and Form 10-C for the Pension scheme. An employee will be eligible for the Pension scheme only if they have served the company for more than 6 months. The 12% contribution is divided as 8.33% for PF and the remaining 3.67% for the Pension scheme.

Along with Form-19, you have to attach Form-3A for the entire period during which the employee has worked. Form-3A must contain the total contribution (12% of basic) from both the Employee and the Employer.

Warm regards,
Sangeetha

Hi Vicky,

If an employee leaves his old organization, he can withdraw PF after two months of leaving his job. Alternatively, if he wants the benefits under the provident fund such as an advance against his deposited amount or pension, he can get the amount transferred to his new organization by filling out Form No. 13, i.e., the transfer form.

Regards,
Chandrakant
9820592842

Hi,

Vicky Sangeetha has provided you with incorrect information about the PF.

Regards,
Chandrakant V