Urgent:PF For Employees Resigning Withing 6 Months

Hi Seniors,

I have been working with a software firm in Bangalore since November 2012. I am planning to pursue higher studies. Therefore, I will be resigning from the company this April, exactly 5 months after joining and before completing 6 months. I was informed by the finance department that I will not be eligible to claim my 5 months of PF amount as it is less than 6 months of service, and it cannot be transferred to another corporate account due to my decision to pursue higher studies.

Please let me know if my PF amount will be forfeited or if there is any way for me to claim it with only 5 months of experience, as I have invested a significant amount into it. Your guidance on this matter would be greatly appreciated.

Thank you.

You can withdraw the PF contribution for 5 months of service, although the contribution towards EPS cannot be claimed due to less than 6 months of service.

In my view, there should not be any problem in transferring the PF dues to another company once you start working again. Apply for a transfer to the new company.

Regards,
Dixon
Tata Trent, Pune

@Dixon: Thanks for the quick reply!! Since I will not be able to work for the next two years due to HIGHER STUDIES, will I still be able to claim that PF amount after I join the company later? The FINANCE MANAGER says data will not be maintained for more than 2 years, so there are more chances of losing the PF. How far is this true?

The data of PF is maintained by the PF office and not by the company alone. Along with the monthly payment, all relevant data is required to be uploaded on the PF website. So don't worry, your money will not go anywhere even after a 2-year gap. Keep your payslips safely along with the full PF number.

Regards,
Dixon

As Dixon said, you are eligible to claim Form 19 only; you can't claim Form 10C.

Regards,
Ven

You are eligible to get your PF deduction and EPF amount, not EPS amount. It is better to apply for the PF now. Suppose if you are going to apply after 2 years, it'll take a long time to get the amount. It has some formalities to apply for late withdrawal.

You can withdraw PF even after 2 years, even if your employer refuses to sign Form 19 because, from 1.7.13, PF withdrawal is going to be online.

VARGHESE MATHEW
9961266966

The way your manager is handling the situation makes me think of two possibilities:

- that he is trying to frighten you so you don't leave yet (pending project?)
- the company is not paying your PF even though it is deducted.

As per current rules, everyone is to be issued a PF number as soon as they join. So, take your PF number, go to the PF website, and check the balance. If the balance is showing, then the money is safe for you until you want to withdraw it. Interest will be paid for three years, but the money in your account will remain until you withdraw it. I have a case in my own office where a person is applying for withdrawal after five years. No issues faced as such.

What Mr. Varghese Mathew has mentioned is correct.
Ramnath

Dear Sir,

Please provide the notification of PF online withdrawal which is applicable from 01.07.2013 as written by you.

Regards,
Pawan Thakur

@Tanveer: Sir, I have already applied for the PF as directed. Thanks for the feedback.

@Varghese Mathew: Sir, Thanks!! That was a sigh of relief. I will keep track of it through online mode as mentioned from 1/7/13. I will contact you if in case I have more queries regarding the same.

@Saswata Banerjee: I appreciate your concern and feedback. It's not the first case. They have no issues regarding my termination of employment due to the project. But it's true with respect to the second point. I will do as per your directions and try to check out my PF balance online.