Leaving a Job Mid-Month: Will My Provident Fund Cover the Whole Month?

Hi friends,

I have been working for a private firm since April 2008. As I am traveling to Australia, I submitted my resignation on 5th September. I have to leave by 27th September 2008, so I will be relieved of my responsibilities on 26th September 2008. I would like to know if the company will deposit PF for the whole month or only until 26th September 2008. If I choose to withdraw my PF funds, will I receive both the employee's and employer's contributions along with the interest?

Thank you.

Vidya,

It is only for 26 days that you will be paid. Of course, you will get the entire contribution you have made and the employer's share with interest. In case you have served less than six months in that organization, then you are not entitled to EPF contribution.

Yup, Pratima is right. You'll get it for 26 days provided you have worked in the company for 6 months. If not, you can claim the amount by submitting the PF form along with your previous company's forms, if any, so that the total number of working days is 6 months or more.

I will be completing 6 months on 30th September 2008. If I get relieved on the 26th, I will lose my PF benefits, right?

This is my first company. I have joined here as a fresher. Will I lose my entire PF benefits if I quit the company before 6 months?

Hi Vidya,

In that case, you will not be entitled to EPF contribution since you have not completed six months.

Hi Prathima,

Thanks a lot. So, according to you, it is better for me to work till 30th September so that I will complete 6 months of service and avail PF benefits.

Regards,
Vidya

Dear Vidya,

There is a contribution as follows: for example, if your basic salary is 100 Rs, PF deduction from your salary will be Rs 12 (i.e., 12% of Basic salary). The same amount, Rs 12 (i.e., 12% of Basic salary), will be contributed by your employer. Now, there is an amount of 24 Rs towards PF contribution. The breakdown of the 24 is as follows: 12 (deducted from your salary goes to the Provident fund), 8.33 (this is the employer's contribution which goes to the Family Pension), and the remaining 3.67 will go to the Provident fund.

Now, let's address your concern. If you leave the company before completing 6 months, you will lose the amount of family pension (8.33%), but you can claim the remaining amount.

Regards,
Rahul

Vidya,

Pratima has explained very well how to withdraw PF. You need to fill out Form 10-C and 19 and have it signed by your organization.

Hi friends,

I have been working for a private firm since April 2008. As I am traveling to Australia, I submitted my resignation on 5th September. I am scheduled to travel by 27th September 2008, so I will be relieved from my responsibilities on 26th September 2008. I wanted to inquire whether the company will deposit PF for the entire month or only until 26th September 2008. If I decide to withdraw my PF funds, will I receive both the employee's and employer's contributions along with the interest?

Hi Vidya,

If you are working until 26th September 2008, you will be eligible to receive your PF funds, including your share and the employer's contribution, with interest.

Regards,

MAHENDRA BAGUL

Hi Mahendra,

Is that possible? I will be completing 6 months of service on 30 September. If I leave the company on the 26th, then I will not be able to complete 6 months of service. Are there any policies regarding that?

Regards,
Vidya

Hi friends,

I need some guidance on the withdrawal of PF amount. I have worked with Thomas Cook from Sep 2004 till Jan 2007. PF has been deducted during my tenure from my salary. How can I claim this amount? Also, what will be the amount that I will be receiving? Is there any way that I can calculate it for myself to recheck and tally with what I actually get in hand?

Please advise.

Thanks,
VAISHALI

Vaishali,

You have to submit Form 19 and Form 10C. You can calculate the amount by yourself. Number of months worked * 12% of your basic (Employee Contribution) + 12% of your basic (Employer Contribution) + approximately 7 to 8% interest = Provident Fund.

Note: Basic varies from year to year if you had appraisals in between.

Dear Vidya,

In addition to that, if you are leaving India, then you can visit PF offices for early release of funds in your bank. For this, you may need to submit your travel tickets and visa copy along with your PF withdrawal form.

Dear Vidhya,

If you have not completed six months, the PF office will reject your form. Please check your date of joining and leaving; it should be a complete six months.

In my opinion, you can withdraw your PF amount. The PF office will verify if you have paid six months' contribution or not; they are not checking the number of days worked.

It would be beneficial to speak with your HR to confirm that you worked the full month in September 2008.

The entire amount, irrespective of a period of 6 months or less, can be withdrawn. There is no law as of now which asks for a minimum of a 6 months period. As it is your money, nobody can prevent you from claiming this.

Of course, it will be on the salary/wages earned by you till your last working day of employment.

Regards,
Salil Sharma
9910247001:icon1:

Hi Salil,

FYI... You cannot withdraw the contribution you have made towards the Employee Pension Scheme if you have not completed 6 months.

Hi,

Prathima is 100% correct. If you don't want to lose your contribution towards family pension, you can go for PF transfer.

Regards,
Rahul

Hi,

There are two components in PF - one is PF, and the other is a pension. You can withdraw your PF contributions, and completion of six months is not mandatory. For claiming or withdrawing your pension amount, you have to complete six months. Otherwise, you may lose the money, which could be Rs. 3246 at maximum.

abs

Hello friends,

I worked in a company for one year, and I joined the same company in another branch in a different city as a new employee. My PF account was transferred as new, and I worked in the other branch for only 5 months. Am I eligible for the full amount of PF from my previous branch, and what about the PF from the other branch?

Thanks,
Urmi

Dear all,

As you said, the PF amount will be deposited into your account, and it is covered up to your relieving date. For example, if you have given your resignation letter dated 25.09.2008, you are eligible for withdrawing the PF amount up to the 25th of the particular month.

Thank you,
Yogeesh

Hi Vidya,

It doesn't matter if you leave on the 26th or the 30th of the month; you are going to contribute to the PF & EPF for six months from April to September of the year. Therefore, you are eligible for the withdrawal of both your accumulations in PF & EPF.

Thanks,
Tarun Singh

There is no rule which says in case you work for less than 6 months your PF or Pension would be stopped..Even if you work for 1 month you get the entire sum lying with the PF authorities. My friend got the entire money he worked for just 3 months it is just that company should be interested in submitting your PF claims forms to the concerned authorities ..Most of the companies avoid doing as they don't want to take the pains and are unhappy over the employees exiting so soon… Hence go ahead and you would get your PF money as well as pension fund reimbursed to you from PF Authorities…

You will be paid for 26 days only. However, you will have the liberty to withdraw both the shares of EPF & EPS. For this, you need to fill up the withdrawal form accordingly. Form 19 & 20 C need to be filled up. Also, if you continue to be in a job in India, since in Australia the EPF Act might not apply, it is your own decision whether to withdraw pension (EPS) money or avail pension benefits later.

Dear Friend
Let me know the way where we can check balance of PF Accounts. Also I would like to know that is there necessary to verify the record from present employer for withdraw the fund.
email me at: [Login to view]

Hi Kumar,

Every year/month, the acknowledgment from the PF organization is sent to your employer, and they have to distribute it to the employees. This acknowledgment will include details of your contribution, your employer's contribution, and the closing balance.

Unfortunately, there is no online website available to check these details.

Regards,
Srinivas