Struggling with PF Transfer and Withdrawal from a Private Trust: How Can I Recover My Funds?

Hi,

I worked at a company called A and then joined company B. When I joined B, I submitted a PF transfer form to move the amount from A to B. However, I only worked at company B for 3 months before moving to another company, C, without being properly relieved from B. Unfortunately, my PF was transferred from company A to B. Now, in my new company, C, I submitted a PF transfer form to transfer the amount from B to C. However, this transfer has not occurred for the past 10 months. I have attempted to contact my employer at B, but they are not responding. Can I retrieve my PF amount? I now wish to withdraw my funds; it is a private PF trust. If I file a complaint with the PF commissioner, will I be able to recover my money? Can I use the forms available on this site to withdraw the amount, considering it is a private trust? Please assist me.

Thanks and regards,
Mini

Dear Mini,

You can withdraw your PF amount, but since it's a private trust, you need to have their form for doing so. Anyways, the important point is that they can't deprive you of your PF amount. Try speaking to them amicably, and if they are not cooperating, then speak to the PF office; they would guide you on the matter. Even every zone's PF commissioner's number is available on their site; you can directly speak to them. If required, then you can lodge a complaint.

Dear Shahzada,

Please understand that this forum is for the exchange of ideas and giving suggestions. It is not for providing forms. Today you may require one form, and then tomorrow you may need another. The best solution is to buy a labor law rule book where all kinds of forms are available. You can print them on the computer and use them.

Regards,
Nilendra

If we are not claiming PF amount, will I get any interest amount? I mean any PF amount which stagnates without further monthly contributions. Is there any law (private trust) that the PF amount will be taken if it is not claimed for some years?

Dear Member,

I have gone through your query regarding the withdrawal of PF from your previous employer as stated by you in the question. You may submit your PF withdrawal form duly attested by the Bank Manager where you operate your savings bank account or may be attested by a Government Officer. One copy may be submitted to the concerned Regional PF office. If your PF accumulation is not paid within one month, then you can approach the Consumer Court under section 12 of the CP Act.

ASHOK KUMAR
09350578043

If I hold this amount with them for some time, will I get interest for this amount? Is there any period before that we need to withdraw the PF amount? Please reply.

Dear Member,

You can hold your PF accumulation with your previous employer's trust or with RPFC office. You shall get interest at the existing interest rate until the date of withdrawal, and you may withdraw your PF amount as and when you require the money. The choice is yours. If you still have any doubts on the topic, feel free to ask without any hesitation.

ASHOK KUMAR
GENERAL MANAGER - HR & IR
M/S. B.L. KASHYAP & SONS LTD
MATHURA ROAD, NEW DELHI
09350578043

Sir,

I have one more doubt. Can the employer have the right to deduct my final settlement dues from my PF? I left this company because they asked me to work the night shift daily, even though they hadn't disclosed this during the interview. However, they cleverly mentioned in the offer letter that a portion of my salary and a 2-month notice period amount would be recovered if I left before one year with the company. They also stated in the offer letter that such dues would be deducted from statutory benefits such as PF. I have asked for the settlement papers multiple times, but they have not sent them. My real worry is my PF from the earlier company, which was transferred to this one. Is there any way I can withdraw my earlier company PF alone, which was transferred to another trust, without the consent of the employer holding the amount? Please help me, sir.

No employer can deduct a single rupee from your PF account, no matter how much amount you owe to the company. The law prohibits the employer from doing so. If the employer does that, then it can be prosecuted.

Regards,
Nilendra

Dear Mini,

Regarding your PF, any company is liable to pay the PF amount even if a person worked for a single day. So, you will receive your amount; just tell them to fill out the 5 & 10 forms and send them to the PF office.

Pandurang

Dear Friend,

I want to know what the salary limit is for PF deduction. If his salary is more than 6500 Rs, then how much PF should be deducted?

Regards,
Dilip

Dear Friend,

There are two kinds of Provident Fund Accounts. The first is the Employee's Provident Fund managed and maintained by the Provident Fund Department, and the second is a PF trust managed and maintained by the company. In the case of withdrawal of PF from the company's PF trust, it must be signed by the company's authorized signatory. The PF department cannot interfere in the same. Although the company cannot deduct anything from PF accumulations of the employees, in cases of serious charges such as theft and manipulation of funds, etc., it must hold the PF until any inquiry is completed and results are out.

Form 19 and Form 10C are used for the withdrawal of PF.

Somebody asked for clarification about PF. Rs. 6500 as basic pay plus DA is the minimum limit upon which PF is contributed...actually, it depends on the company's policy. If an employee has a salary of 20000 pm, the company either deducts PF on basic pay, i.e., approximately 45%-60% of the gross salary or deducts a minimum PF at Rs. 780 (Rs. 6500 * 12%). If an employee has a basic pay of Rs. 6500, it's mandatory to deduct PF on the basic pay.

Of course, any person can ask for any kind of forms anytime; after all, it's a group especially designed for HR. There is a download section where you may find forms and other important HR-related information which you may download for free.

Best regards,

Umesh Chaudhary
(welcomeumesh@yahoo.com)

Miss,

You can't withdraw PF money as you have not completed 6 months in an organization (B). It's better if you talk to the PF commissioner about the same and ask for a transfer to your new organization (C).

Also, I want to inform you that sometimes it may take up to a year to transfer the PF amount. Have you confirmed whether your PF transfer form has been processed by company B?

Regards,
CP

PF Query - Please Help

I want to know by whom PF withdrawal form should be submitted in the PF Office - by the employee or the employer. Please refer to the relevant section of the PF Act 1952 for any provisions.

Thank you.

Dear Friend,

No, the employer cannot set off anything from your rights arising out of statute.

Regards