Provident Fund Amount After Resignation

rameshtrichy
Hi,
What are the options left with the employee if he/she resigns from an organization? Is there an option to keep the money as it is with the trust to withdraw later or it is mandatory to withdraw if he/she not willing to work further?
saiconsult
Mr.Ramesh
You can get it transferred to an establishment you will be joining latter.
B.Saikumar
Hr & labour Law advisor
Mumbai
Madhu.T.K
Immediate withdrawal is not required and he will get interest for the amount kept but after 36 months of it becoming non operative interest will cease to accrue but in any case the amount will not get lapsed.
Madhu.T.K
D.GURUMURTHY
Dear Sir,
It is not mandatory to withdraw from the Fund. It is your wish. Either you can withdraw or get it transferred to the
present account. or you can retain with them and can withdraw/transfer at any time as per you will and wish.
D.Gurumurthy
LL.HR & IR Consultant,
Hyderabad.
seenutn
Madhu T K has replied that the amount in PF will be getting interest upto 36 months, is it valid even now (in 2015)? (The reason is that I resigned from my org in Mar 2014 and not working anywhere now and may not join any org also in the future).
Regards,
Seenu.
If you are knowledgeable about any fact, resource or experience related to this topic - please add your views. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone. Join To Contribute