Hi, you have the forms from our friend Amit, and that should take care of your needs now. However, I want you to think in the long-term perspective and make a decision yourself.
Please look at PF as a blind savings mechanism since most of us today lack the discipline to stick to a savings pattern. Consider the following example:
Imagine Mr. X receives Rs 1000/- as his basic salary, with a PF deduction of Rs 120/-. With the employer's contribution, it totals to Rs 240/- per month. If Mr. X continues working at a similar scale for the next 30 years (240*30*12), his savings would amount to roughly around one lakh rupees, including the accrued interest.
For someone with a basic salary of Rs 1000/-, they save close to one lakh rupees by the time they retire, without even realizing it. Now, picture a real-life scenario where your basic salary increases annually. For instance, if your basic is Rs 30,000, your monthly contribution would be Rs 3600, and you are aware of your monthly savings.
All of this occurs without feeling the pinch of the challenges associated with saving money. Moreover, it aids in tax savings and offers numerous other benefits. Now, it's up to you to decide whether you want to withdraw your PF amount or not.
Regards,
Muthukumar K