Need Advice: Can I Withdraw My TCS PF Claiming Unemployment for Urgent Funds?

Hi Friends, I was with TCS and resigned from there in mid-February. I am currently employed in another organization. Can I withdraw my PF from TCS stating that I am currently unemployed? Actually, I need the money for some personal urgency. Please help and suggest.

Thanks in advance.

No, you have to attach the first page of your bank account [with account number] or a canceled check leaf [both for ensuring the account number is correct] and sign the necessary pages. Submit it, and it will be done.

Since TCS, you can send the copies online, and they have an online digital approval facility. Use the EPFO website for your process.

Thank you, Vignesh. I was under the impression that it's not legal to withdraw PF from a previous employer while you are still employed by another organization. Thank you for the clarification.

Please find attached the P.F. withdrawal forms 19 & 10c. Kindly fill them out and send them, along with a canceled and signed bank cheque, to the previous company's HR department. Don't forget to affix a revenue stamp and cross-sign the forms. Additionally, remember to request a P.F. submission acknowledgment.

Best Regards,
Siddhartha

The information being shared is wrong. If you are currently working in an organization that has PF registration, then you do not have the option to withdraw the PF balance in previous accounts. You are required to transfer it to the new account.

Closing Your PF Account

You are allowed to close your PF account only if you are no longer employed and do not plan to take up employment, or if the company you have joined does not have PF registration.

Withdrawing PF Balance

You are, however, allowed to withdraw part of the balance (either permanently or as a loan) under certain circumstances and for certain purposes. Please check the EPFO website for the details.

I do not agree with Mr. Vignesh's advice. I partly agree with Ms. Saswatha Banerjee. In the past, I have written in this forum 2-3 times, advising not to encourage the withdrawal of Provident Fund, regardless of the reasons. The employee should prefer to transfer the Provident Fund account from one company to another when taking up a new job, by applying in Form No.13. The provident fund contributions by employees and employers are nothing but a part of savings. Because of this, the government is named as BHAVISHYA NIDHI.

In your case, I still advise you to get it transferred, which is very easy. The withdrawal of Provident Fund will lead to problems in the continuity of your service as a member of EPFO. This will result in the effect on your next contribution since it will be counted as a new member and not an old member. You may be young and continuing your career in employment anywhere in India; my advice is to continue as a member until your retirement.

Regards,
Adoni Suguresh
Sr. Executive (Pers, Admin & Ind. Rels) Retd
Labour Laws Consultant

I agree with your advice. I was providing the solution for the question raised. The one who raised this question is desperate to get some money. PF is an option for them, so the withdrawal process is what I suggested. I hope the withdrawal process I suggested was correct.

Thanks, Vignesh. I was under the impression that it's not legal to withdraw PF from a previous employer while you are still employed by another organization. Thanks for the clarification.

Yes, your impression is correct. It's not legal to withdraw PF when you are still employed by an employer to whom the EPF Act applies. You must transfer your PF accumulations to your present employer by submitting Form 11.

Transferring Your PF Amount

As you are working in another organization, you cannot legally withdraw your PF. You have to take steps to transfer your PF amount from the earlier account to the present account of the organization.

Withdrawing PF in Urgent Situations

However, you can withdraw PF by submitting Form-19 and Form-10C in case you need money urgently. Most of the PF members are doing this.