Last month, I received an amount of PF from my previous company. When I checked, I found out that the balance amount of my PF is in a pension scheme. I worked for the company for 7 years.
Now, I want to withdraw the pension amount early. Is there any option for this? If yes, how can I do this?
From India, New Delhi
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Now, I want to withdraw the pension amount early. Is there any option for this? If yes, how can I do this?
From India, New Delhi
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I wanted to know a little more about the pension fund. When can it be withdrawn? What if I withdraw it before 10 years of service (with multiple employers)? How much percentage will be deducted if I withdraw it before 10 years?
Thanks,
Kabir
From India, Bangalore
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Thanks,
Kabir
From India, Bangalore
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Pension Withdrawal
I am 30 years old and now running my own business. I have received my P.F. amount. Now, I want to withdraw the pension amount. I have submitted Form 10 C, and in response, I have obtained a scheme certificate. How can I proceed to receive the pension amount?
Thanks.
From India, Indore
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I am 30 years old and now running my own business. I have received my P.F. amount. Now, I want to withdraw the pension amount. I have submitted Form 10 C, and in response, I have obtained a scheme certificate. How can I proceed to receive the pension amount?
Thanks.
From India, Indore
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You might have worked for 10 years or more, which is why you did not receive the withdrawal benefit of the pension fund but instead got a scheme certificate. You can keep it safe and avail a monthly pension once you reach the age of 58. If, in the future, you decide to discontinue your own business and join a company as an employee, you can surrender this certificate. By doing so, your past service will be added to the new one, and your pension will then be calculated considering the past service as well. Moreover, in the unfortunate event of the holder of the scheme certificate passing away, the family will begin receiving a pension.
Regards,
Madhu.T.K
From India, Kannur
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4526Regards,
Madhu.T.K
From India, Kannur
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Pension Fund Options for Gulf Employees
For employees working in the Gulf, if you leave your service due to resignation, the amount contributed to your account as a pension fund is paid to you.
If you join another organization, you have two options:
1. Take the amount paid to you and add it to your new pension scheme, which is called "service annexation," meaning your previous service is added to the new service under the new scheme.
2. Start all over again as if you have not worked and keep the money in your pocket. It's entirely up to you.
From Oman, Muscat
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For employees working in the Gulf, if you leave your service due to resignation, the amount contributed to your account as a pension fund is paid to you.
If you join another organization, you have two options:
1. Take the amount paid to you and add it to your new pension scheme, which is called "service annexation," meaning your previous service is added to the new service under the new scheme.
2. Start all over again as if you have not worked and keep the money in your pocket. It's entirely up to you.
From Oman, Muscat
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Early PF withdrawal won’t be easy.pdf