Need Help with Form 10C: How to Fill It Correctly and Maximize Withdrawal?

Hi,

I have a doubt regarding filling Form 10 C.

i) In Point 5, it asks for the following 3 things - Region/SRO Code, Estt. Code No., A/c No. My PF number, for example, is HR/12345/100. So, I suppose the 3 fields will be filled as follows - Region/SRO Code = HR, Estt. Code No. = 12345, A/c No. = 100. Please confirm if I am correct.

ii) Point 8 says, "Are you willing to accept Scheme Certificate in lieu of withdrawal benefits. Yes/No." What does this mean? I want to withdraw the maximum amount of money. Should I write 'No' here?

Thanks in advance, Samir

Samir, you are right. In the PF No., HR stands for Region Code (hope you are in Haryana), 12345 stands for establishment code, and 100 stands for your account number.

A scheme certificate is a certificate issued by the Labour Ministry for the Employees' Provident Fund Organisation certifying that the holder has worked in the establishment for the number of years mentioned therein. The certificate also lists the named spouse and children of the holder who will be eligible to receive a pension in case of the holder's death before attaining the age of 58. In other words, if you have not completed 10 years of service (9 years and six months would suffice to make your service ten years), you can opt for the withdrawal benefit of the Pension Fund. This fund is formed by the credit of the employer's share of contribution, which is 8.33% of the salary. If you choose not to withdraw, you can opt for the Scheme Certificate as explained earlier.

If in the future, you join a company where PF contributions are mandatory, you can surrender this certificate. By doing so, your past service with the previous company will be added to your current company's service, qualifying for your future pension. If you have completed 10 years, you must go for the scheme certificate. Therefore, if you wish to accumulate your present service for future pension, respond with a "yes." If you do not want to accumulate service but prefer to withdraw the pension fund now and have not completed 9 years and six months, you can answer "no" to question No. 8.

Regards,

Madhu.T.K