Hi,
I am working in IT company(Private company) from around 5 years. I have worked in company for 4 years and then switched to present company. In the new company they opened a new PF account.
I would like to know is it better to transfer the PF or withdraw that amount.
Is there any difference between these two apart from as we get bulk amount at retirement stage. Is it the only difference or is there any other benefits. I feel if it is the only difference I can withdraw that amount use for purchasing plot/flat.
And I think in the IT companies we are having provident fund not the pension fund. At the time of retirement stage can we convert this provident fund to pension fund..
Please let me know.
Thanks,
Adithya
I am working in IT company(Private company) from around 5 years. I have worked in company for 4 years and then switched to present company. In the new company they opened a new PF account.
I would like to know is it better to transfer the PF or withdraw that amount.
Is there any difference between these two apart from as we get bulk amount at retirement stage. Is it the only difference or is there any other benefits. I feel if it is the only difference I can withdraw that amount use for purchasing plot/flat.
And I think in the IT companies we are having provident fund not the pension fund. At the time of retirement stage can we convert this provident fund to pension fund..
Please let me know.
Thanks,
Adithya