PFwithdrawal

Dear all,
Please help me and thanks in advance.
I have resigned from a company which I worked for 13 years. Now I am working for another company for past 3 years. I have neither transfer or withdrew my P
F contribution from previous employer.What is the advantage in withdrawal and transfer of the contribution. By withdrawal will my pension eligibility get effected.What should I do?

Dear kannan
It is better to get the P.F transferred to your new establishment by applying to the Commissioner under whose jurisdiction,your previous establishment falls.
B.Saikumar
HR & Labour Law consultant
Mumbai
Tel: 09930532927

Whether withdraw or transfer, it depend upon your requirements. Last year the interest on EPF was 9.5%. This year it will be below 9%. If you are able to get more than that or you have to take a loan @ more than the above interest, withdraw PF. Otherwise you may transfer it.
The PF amount withdrawal will not affect your pension entitlement. The Pension fund is not connected with the PF investment.
Abbas.P.S

Dear All,
i have resigned from one company and now joined in another.
1.whn can i get PF fund along with pension?
2.is that must to continue my PF a/c for 10 years to claim PF pension?
Kindly provide valid answer for my question.

Dear Ramesh,
1. You will get the PF amount after completion of service.
2. After relieving from service if your age is in between 50 years to 58 years, you are eligible for reduced pension, provided you have a service of 10 years in PF.
3. After completion of the age of 58 years (provided you have a service of 10 years in PF) you will receive full pension, even if you continue in PF.
Abbas.P.S

Dear Ramesh
If you joined an estblishment which is covered by P.F Act, you need to transfer your aacount to the new establshment. You can withdraw the pension even before completing 10 years in terms of Par 14 of the Scheme.Since, the amount is meagre, it is better to opt for scheme certificate.
B.Saikumar
HR & Labour Law Advisor
Mumbai
Tel: 09930532927

Hi,
I will have to withdraw my pf from last employers which are pvt companies.
want to understand few things-
1.after how many month of relieving i can withdraw pf
2.if i had worked 6 months in the company & resigned than in that case also can i withdraw my pf which had been deducted from my salary
3.i have changed 5 companies in last 7 years but have not withdrawn pf from any company yet..what will be the process & frm where should i route..of inintial two companies i haven't remember my pf account no. also,but having my employee id of all companies.
4.what is the process of getting pf credited in savings account no...and how many days it will take
In short pls help me out to understand the process of PF WITHDRAWAL.
Thanks,
Anand

Dear Kannan,
It is advisable to get your PF a/c transferred from your previous employer to the present one to get interest on the entire amount and get the total amount with interest thereon at the time of retirement. Then you will find this amount very useful. Besides, the accumulated amount wil be helpful at the time of withdrawal for any of the major purposes stipulated in the EPF Scheme. As regards pension, I agree with Abbas.
Regards
S.K.Johri

My dear Anand,
It will be in your interest to get your PF dues transfered from all previous employers to the present one as this will:
a. allow on your amount matching contribution of the employers;
b. the amount so transferred will make a good sum, to be used later, if and when required.
Regards
S.K.Johri

i donot want to transffer so can i withdraw all the amount & should i talk to my previous employers to withdraw or directly fill the pf withdrawal form & dispach to them