Hi i want to know what is 'withdrawl benefits' while withdrawing pf from one’s pf account & also eligibility for gratutity if i had worked for 3 years in a company till november 2007 ? thnx..
From India, Chandigarh
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From India, Chandigarh
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Hi All, I would like to get some important information regarding PF, as I am working with one of the logistic companies, and they deduct almost INR 4750 as a PF deduction per month. Now I want to confirm that if I'll leave this company after completion of 3 months (I am on a 6-month probation period), then:
1. How will I manage the PF withdrawal?
2. Will the probation period be a bottleneck in any case?
3. Will it impact my new job?
Please solve my doubts...
Regards,
From India, New Delhi
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1. How will I manage the PF withdrawal?
2. Will the probation period be a bottleneck in any case?
3. Will it impact my new job?
Please solve my doubts...
Regards,
From India, New Delhi
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sir, this prasad, my friend was resigned previous company 4 months back, he want to withdraw his PF amount fully. can he submit Form-10C & Form-19 without signing of previous employer.
From India, Mumbai
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From India, Mumbai
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Submission of Withdrawal Claim
Submission of a withdrawal claim without a signature from the previous employer can't be entertained. After submission, it will be sent back to the establishment for verification. Notary, Gazetted officers, councillors, MLC, MLA, and MP are authorized to sign the form when the establishment is closed. If the establishment is operational, then only the authorized signatory of the establishment is allowed to sign. It is better to transfer your EPF accumulation to your current EPF account rather than withdrawing.
Thanks and regards,
Sumit Kumar Saxena
[Phone Number Removed For Privacy Reasons], [Phone Number Removed For Privacy Reasons]
From India, Ghaziabad
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256Submission of a withdrawal claim without a signature from the previous employer can't be entertained. After submission, it will be sent back to the establishment for verification. Notary, Gazetted officers, councillors, MLC, MLA, and MP are authorized to sign the form when the establishment is closed. If the establishment is operational, then only the authorized signatory of the establishment is allowed to sign. It is better to transfer your EPF accumulation to your current EPF account rather than withdrawing.
Thanks and regards,
Sumit Kumar Saxena
[Phone Number Removed For Privacy Reasons], [Phone Number Removed For Privacy Reasons]
From India, Ghaziabad
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Withdrawal Benefits and Gratuity Eligibility
What type of withdrawal benefits are you asking for? It is your money, and you know better how to utilize it. Secondly, for payment of gratuity, the eligibility of 5 years of continuous service is a must. Below that, no payment should be done, and each year is accompanied by 240 working days.
Thanks & regards,
Regards,
Sumit Kumar Saxena
[Phone Number Removed For Privacy Reasons], [Phone Number Removed For Privacy Reasons]
From India, Ghaziabad
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What type of withdrawal benefits are you asking for? It is your money, and you know better how to utilize it. Secondly, for payment of gratuity, the eligibility of 5 years of continuous service is a must. Below that, no payment should be done, and each year is accompanied by 240 working days.
Thanks & regards,
Regards,
Sumit Kumar Saxena
[Phone Number Removed For Privacy Reasons], [Phone Number Removed For Privacy Reasons]
From India, Ghaziabad
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Gratuity and PF Withdrawal Guidelines
Gratuity for services rendered for less than a 5-year period is not admissible.
For PF withdrawal, there is one option if you are taking up another job: get it transferred to the new company. If you are leaving the career forever and are determined not to take another job any time in the future, you may withdraw your PF (both your own share as well as the employer contribution). However, I would suggest you apply for a scheme certificate for pension benefits should you change your decision in the future.
Thanks & regards
From India, Pune
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Gratuity for services rendered for less than a 5-year period is not admissible.
For PF withdrawal, there is one option if you are taking up another job: get it transferred to the new company. If you are leaving the career forever and are determined not to take another job any time in the future, you may withdraw your PF (both your own share as well as the employer contribution). However, I would suggest you apply for a scheme certificate for pension benefits should you change your decision in the future.
Thanks & regards
From India, Pune
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Gratuity Entitlement and PF Withdrawal
For gratuity entitlement, you have to complete 5 years of continuous service. PF can be withdrawn after 2 months from the date of leaving the company. There will be no abeyance of the probation period. As per recent government amendments, you cannot keep your PF account after leaving the services for more than 3 years. It means up to three years, there will be no contribution from either side, but the government will pay the interest, and after 3 years, it will be assumed as non-operative.
From India, Gurgaon
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For gratuity entitlement, you have to complete 5 years of continuous service. PF can be withdrawn after 2 months from the date of leaving the company. There will be no abeyance of the probation period. As per recent government amendments, you cannot keep your PF account after leaving the services for more than 3 years. It means up to three years, there will be no contribution from either side, but the government will pay the interest, and after 3 years, it will be assumed as non-operative.
From India, Gurgaon
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Hi Rashmi, you can withdraw your PF amount, but the benefits are nothing more than receiving your amount. If you transfer your PF amount to another account when you join another company, it will yield you a higher interest rate than what the bank offers.
Gratuity Eligibility
As for gratuity, you are not eligible. The reason is that you should have worked for at least 5 years.
Thank you.
From India, Bangalore
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Gratuity Eligibility
As for gratuity, you are not eligible. The reason is that you should have worked for at least 5 years.
Thank you.
From India, Bangalore
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If you are leaving one organization and joining another, it's advisable to transfer the PF from one account to another. Gratuity is not applicable if the service is rendered for less than 5 years.
From India, Gurgaon
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From India, Gurgaon
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Since you left the company in 2007, you are eligible for the permanent withdrawal of PF accumulation, both yours and the employer's, provided you are still unemployed. However, if you are currently employed and are a member of PF, you can transfer your PF accumulation to your new account. The purpose of PF is to provide you with a handsome kitty at the time of your superannuation. If it is frittered away during your employment, then not much will be left when your employment days are over and the dark clouds of resettlement of life appear ominous. You are not due any gratuity for your three years of service.
Regards,
KK
From India, Bhopal
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Regards,
KK
From India, Bhopal
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Hi To become eligible for gratuity employee must work for minimum 5years in the same company.
From India, Mumbai
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From India, Mumbai
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Dear Shri Ram Ji,
You say your current age is 50 years. If so, you will get a reduced pension, reduced by 4% for every year short of 58 years. You will receive less if you apply for a pension now. However, you may decide to apply for a reduced pension depending on your present health and needs.
Regards,
From India, Pune
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You say your current age is 50 years. If so, you will get a reduced pension, reduced by 4% for every year short of 58 years. You will receive less if you apply for a pension now. However, you may decide to apply for a reduced pension depending on your present health and needs.
Regards,
From India, Pune
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Early PF withdrawal won’t be easy.pdf
Employee Benefits.doc