Waiting for My PF Withdrawal: How Long Does It Take and What's the Interest Rate?

Hi,

This is Samala Prabhakar. Previously, I have worked in a Bangalore-based company, and I resigned on July 13th. I have already submitted PF Forms 10c and 19. When can I expect my PF amount, and how much time will it take? Also, what is the PF interest rate to be paid? Please let us know.

Regards,
Prabhakar

Hi Prabhakar,

Generally, it is required to submit the same after 60 days of your resignation. After that, it takes around 15 to 25 days. As far as I know, you are required to submit one more form along with these – the PSSN Form. The amount that you will get is 12% of your contribution and 3.67% of the employer's contribution to the same fund, along with the rate of interest announced by the Government for that fiscal year.

I hope it must have become clear to some extent.

Regards,
Amit Seth

Dear Prabhakar,

It all depends on how fast the EPFO department clears your file. Generally, they clear it within 30 days once they receive the claims forms from your employer. The rate of interest is 8.5% on the credited amount in your PF account. I believe you have not worked in that company for 9 years or more. So, you will get a 24% contribution (12% yours + 12% your employer) as EPF, and you will not get any pension (EPS).

I hope the above clarifies your doubt.

Regards,
Srihari Rao

Dear HR Friends,

Please find the P.F. withdrawal forms 10C & 19 from this site: https://www.citehr.com/32066-forms-10c-19-a.html.

Regards,
HR Friend

Dear Cite HR Team,

It takes 1 month and as per government rule, you will get PF interest at 8.5% on the lump sum of PF contributions.

Hmm, I suppose you mean his contribution of 12% and not 12% of his contribution, right? If he gets only 3.67% of the employer's contribution, what happens to the rest, which is around 8.33%?