Understanding PF Withdrawals: New Policy, Process, and Interest Rates

Hi All,

I would like to bring to your kind attention and seek the necessary guidance from you on my PF Withdrawal process.

I resigned from the company on 23-MAR-2014 after nearly 6 years of continuous work. In July 2015, I applied to withdraw my PF amount and submitted all the required application documents to my company. Shortly after, I received a written email from the company stating that the Provident Fund organization had ceased accepting PF withdrawal applications from organizations, except in cases of retirement or death. Unfortunately, I did not receive any further information from my company regarding this matter.

I now request to know when the Provident Fund organization plans to lift this ban and resume processing PF withdrawal applications.

Additionally, I have learned that the PF withdrawal policy is set to change, allowing only 75% of the PF withdrawals, while the remaining 25% will be retained in the account until the account holder reaches the age of 58. Could you please confirm if we will receive any interest on this amount from the Provident Fund organization during this period?

I kindly ask for your prompt response to this matter.

Hi Buddy,

As you mentioned, your employer informed you that the PF Organization has stopped receiving applications for withdrawal. However, I disagree. I suggest you visit your regional provident fund office and inquire about the situation to gain a clearer understanding.

Regarding the new policy you mentioned, it is still under discussion and has yet to be officially notified.

With Regards,
Mr. Thumbs Up

Hi,

Your employer cannot stop your PF withdrawal. They are only supposed to sign your PF withdrawal application form. As Mr. Praveen said, you can also go to the Provident Fund office and seek details for clarification.