Hi All,
One of our employee had obtained Pension Certificate during his first employment in Karnataka. Now he has contributed in Family Pension Fund for 9.5 years in our firm. As he came to know that no one can avail double benefits under pension scheme, he wants to withdraw his provident fund amount with service break. Now he is insisting to give a break. Our management does not want to take any risk because he is key person for our production team.
Please suggest for the following queries :
01. Is there any way to transfer his family pension fund ?
02. May we club employer contribution for family pension fund (8.33%) to
his own account (12% + 12% = 24%) onwards now ?
03. Should we inform to PF authority about this changes with submission of
his pension certificate?
04. Is there any legal aspect which can suffer the comapny?
Regards.
Rajesh
One of our employee had obtained Pension Certificate during his first employment in Karnataka. Now he has contributed in Family Pension Fund for 9.5 years in our firm. As he came to know that no one can avail double benefits under pension scheme, he wants to withdraw his provident fund amount with service break. Now he is insisting to give a break. Our management does not want to take any risk because he is key person for our production team.
Please suggest for the following queries :
01. Is there any way to transfer his family pension fund ?
02. May we club employer contribution for family pension fund (8.33%) to
his own account (12% + 12% = 24%) onwards now ?
03. Should we inform to PF authority about this changes with submission of
his pension certificate?
04. Is there any legal aspect which can suffer the comapny?
Regards.
Rajesh