I was employed for 8 years in india. I resigned in 2010 and am now NRI/britishcitizen. I am trying to withdraw comlpete super annuation amount but the payroll/HR team are not able to assist - they do not seem to have a clue on the process
Has anyone known a case where an employee withdrew the entire super annuation amount upon resignation?
what i found online is: In the case of resignation of the employee, the employee has the option to transfer his amount to the new employer. If the new employer does not have a Superannuation scheme, then the employee can withdraw the amount in the account, subject to deduction of tax and approval of IT department, or retain the amount in the Fund, till the superannuation age"
This is referring to group super annuation policy employer had with LIC ( this is separate from PF/EPS/Gratuity)
Has anyone known a case where an employee withdrew the entire super annuation amount upon resignation?
what i found online is: In the case of resignation of the employee, the employee has the option to transfer his amount to the new employer. If the new employer does not have a Superannuation scheme, then the employee can withdraw the amount in the account, subject to deduction of tax and approval of IT department, or retain the amount in the Fund, till the superannuation age"
This is referring to group super annuation policy employer had with LIC ( this is separate from PF/EPS/Gratuity)