Need Help with PF Withdrawal: Can I Use a Private Bank Account and How Long Will It Take?

Hi,

Can anyone help me out? I need to withdraw my PF amount from my old company.

- In the column where our SB A/C needs to be mentioned, is it mandatory to mention the account number of only nationalized banks? Or can any private bank, like Kotak Mahindra, be used where the PF cheque can be deposited by the PF organization? Because one PF inspector mentioned that only nationalized/scheduled banks' A/C numbers need to be provided.
- Can we use soft copy/xerox copy of PF withdrawal forms?
- How long will it take to get the amount after submitting the PF forms for withdrawal?

I need your feedback and suggestions.

Regards,
Manikumar

Hi Manikumar,

You can provide any bank details, whether it is nationalized or private. You only need to submit the hard copy of the withdrawal form. It typically takes at least 3 to 4 months to clear the PF after you have left your previous company because the company cannot submit the form before the end of 2 months from your resignation. After submitting the form, it takes at least two months if your form is complete in all respects.

Regards,
Harshad