Stuck with My PF Account: How Long Can It Stay Open and Are There New Rules?

Hi,

Just to give an intro, I worked for Company A for 5 years in India. Then I joined Company B, an Indian Company in the US, on-site, almost 1 1/2 years ago. So when I left Company A, I had a PF account because I was on the Indian Payroll. Now I'm on USD payroll with Company B and not enrolled in the Indian Payroll. I was told by HR from Company A whether I can close the PF and get the money. As per them, the following are the 2 options:

- For a Withdrawal, I need to provide a declaration letter stating that I will not be working in any other company, as per the new PF rules.
- The second option is Transfer.

Otherwise, they won't be able to process. If both options are not possible, the amount will remain in my account.

As per the above, I cannot go for option A because I cannot declare that I won't join or work for any company. Also, I can't choose Option B because I'm not in the Indian Payroll and have no new P/F account to transfer to.

How long will the PF office keep the money in my account?

I would really appreciate it if someone could please let me know if there are any new PF rules about this declaration letter.

Regards,

-Bala

Dear Bala,

Just fill up Form-19 & Form-10C, obtain the signature of your former employer from Company A (since you have already left), and submit the completed forms to the Provident Fund Office.

Regards,
Sayed Iqbal
Excel Consultancy Services

Dear Bala,

For the withdrawal of PF, on Form No. 19, you need to give an undertaking that you were not employed in the last two months. You should sign and send it to your employer on completion of two months from the date of resignation.

Thank you,
Anil

Thanks for the replies. Actually, I submitted both Form-19 & Form-10C with a 1 Re revenue stamp, duly signed, after 2 months I left Company A and sent it to my HR. After HR received the forms, I got an email from HR stating that:

- For a Withdrawal, I need to provide a declaration letter stating that I will not be working in any other company, since as per the PF new rules need to provide.
- The 2nd option is Transfer.

As per the below statement:

"For the Withdrawal of PF, on Form No. 19, you need to give an undertaking that you were not employed in the last two months."

I left Company A on Friday and joined Company B on Monday, but at Onsite-US, not in India.

Hence, I have a doubt about this declaration letter. There is a possibility I can come back to India and work in Company B [Indian-based]. In this case, should I keep my PF account open? If that's the case, I can do the transfer from A->B account.

How long will the PF account remain open?

Hope I'm not confusing anybody. I would appreciate your valuable comments.

Thanks and Regards,

-Bala

After completing 60 days from the date of resignation, you need to submit PF closure form - 19 duly filled-in to your employer to submit the same to the PF dept. You shall verify your status by logging in to EPFO at EPFO and click on the option "Know your status." Generally, the procedure for PF payment takes 40 days from the date of submission of the Closure form.

Dear Bala,

Your HR personnel has not given the correct reply. You should talk to them and ask where it is written that there is a limit of 60 days. When you are filling out the form after 60 days, you need to provide a declaration that you are not currently working, which is stated in the withdrawal form itself.

In your case, even 60 days is not required. If someone takes a job outside India, their withdrawal should be done immediately.

You should ask HR to forward your form to the PF department right away.

Regards,
J. S. Malik

Thanks for the replies. Actually, I submitted both Form-19 & Form-10C with a 1 Re revenue stamp, duly signed, after 2 months of leaving Company A and sent it to my HR. After HR received the forms, I got an email from HR stating that:

- For a withdrawal, I need to provide a declaration letter stating that I will not be working in any other company, as per the new PF rules.
- The second option is transfer.

As per the statement below,
"For the withdrawal of PF, on form No. 19, you need to give an undertaking that you were not employed in the last two months."
I left Company A on Friday and joined Company B on Monday, but at Onsite-US, not in India.

Hence, I have a doubt about this declaration letter. There is a possibility I may come back to India and work in Company B [Indian based]. In this case, should I keep my PF account open? If that's the case, I can transfer from A to B account.

How long will the PF account remain open?

I hope I'm not confusing anybody. I would appreciate your valuable comments.

Thanks and Regards,
Bala

Dear friends,

Please guide me on how to fill PF form 19. I need details regarding the "contribution for the current financial year." Do I have to fill it manually or will the company provide the 3A form?

Best Regards,

Nisha