I have one question. If anybody has applied for PF. He has taken PF last one year. Now he want to quit from PF facility. Can he do so. Or after resigning only in the same company he can quit the PF.
From India, Pune
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11From India, Pune
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Dear Madhuri,
Regarding your query on PF, an employee can withdraw the amount from his account after a grace period of 60 days by submitting Resignation, Retirement, Reaching the Age of Superannuation, Permanent settlement Abroad, or in the case of Death, Permanent Disability, etc. Women employees shall not continue in service after marriage. In the aforementioned conditions, only the employee can be permitted to withdraw the amount from EPFO. For Death and Permanent Disability conditions, a grace period of 60 days is not required. During employment, the employee cannot withdraw the amount from EPFO; only Partial Withdrawal is permitted under Loans/Advances if the employee meets the eligibility criteria.
Regards,
V R RAO PULIPAKA
09666051720
From India, Bangalore
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Regarding your query on PF, an employee can withdraw the amount from his account after a grace period of 60 days by submitting Resignation, Retirement, Reaching the Age of Superannuation, Permanent settlement Abroad, or in the case of Death, Permanent Disability, etc. Women employees shall not continue in service after marriage. In the aforementioned conditions, only the employee can be permitted to withdraw the amount from EPFO. For Death and Permanent Disability conditions, a grace period of 60 days is not required. During employment, the employee cannot withdraw the amount from EPFO; only Partial Withdrawal is permitted under Loans/Advances if the employee meets the eligibility criteria.
Regards,
V R RAO PULIPAKA
09666051720
From India, Bangalore
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Hello, Thanks ........................As per company rule if both the side PF is going to deduct from employee salary. In that case why employee is not able to withdraw from this.
From India, Pune
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From India, Pune
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Dear Madhuri,
With reference to the subject above, the employer cannot engage in such practices. The employee can withdraw the amount of both employee and employer contributions remitted to EPFO when leaving the organization, subject to the conditions mentioned. If the employee's service tenure in an organization is less than 6 months, they cannot withdraw the amount allocated to the Pension Fund at the rate of 8.33% under the EPS/FPS-95 Scheme.
Regards,
V R RAO PULIPAKA
09666051720.
From India, Bangalore
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With reference to the subject above, the employer cannot engage in such practices. The employee can withdraw the amount of both employee and employer contributions remitted to EPFO when leaving the organization, subject to the conditions mentioned. If the employee's service tenure in an organization is less than 6 months, they cannot withdraw the amount allocated to the Pension Fund at the rate of 8.33% under the EPS/FPS-95 Scheme.
Regards,
V R RAO PULIPAKA
09666051720.
From India, Bangalore
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Dear Madhuri,
As a matter of fact, the CTC of an employee comprises both Employee as well as Employer PF. If the company states that the Gross salary includes both employee and employer PF, then it is incorrect.
Once the PF is initiated, it should not be stopped until resignation. If you wish to be an exempted employee, you must obtain the exemption in the beginning and declare the employee as exempted from paying PF, provided their salary is above Rs. 6500/- per month.
Stopping PF contributions midway can lead to complications for the organization, especially when the PF inspector visits the office for inspection.
From India, Kumbakonam
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As a matter of fact, the CTC of an employee comprises both Employee as well as Employer PF. If the company states that the Gross salary includes both employee and employer PF, then it is incorrect.
Once the PF is initiated, it should not be stopped until resignation. If you wish to be an exempted employee, you must obtain the exemption in the beginning and declare the employee as exempted from paying PF, provided their salary is above Rs. 6500/- per month.
Stopping PF contributions midway can lead to complications for the organization, especially when the PF inspector visits the office for inspection.
From India, Kumbakonam
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Dear Bhaskar, But can you clear me that how using form 19 a person can withdraw the PF amount by closing the account. Is it possible to do so after resigning from an organization??
From India, New Delhi
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From India, New Delhi
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Dear All,
I want to share my experience with the entire EPFO, Bandra, PF department. The people there are corrupt. I have been following up on my PF withdrawal for the past four months. I have sent emails to the concerned authorities such as the regional PF commissioner, head PF commissioner, and even to the labor minister, but to date, my problem remains unresolved. Despite sending consecutive emails, I have not received any feedback from them.
I am truly frustrated with the work culture of the PF department.
Thanks & Regards.
From India, Mumbai
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I want to share my experience with the entire EPFO, Bandra, PF department. The people there are corrupt. I have been following up on my PF withdrawal for the past four months. I have sent emails to the concerned authorities such as the regional PF commissioner, head PF commissioner, and even to the labor minister, but to date, my problem remains unresolved. Despite sending consecutive emails, I have not received any feedback from them.
I am truly frustrated with the work culture of the PF department.
Thanks & Regards.
From India, Mumbai
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But Mr. Rao, the pension fund can be withdrawn either after completing 10 years of continuous service or upon reaching the age of 58. As of now, there is no concept of a 6-month mandatory period to withdraw a pension fund. Please correct me if I am wrong.
Thanks & Regards,
Anisha Mittal
From India, Delhi
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Thanks & Regards,
Anisha Mittal
From India, Delhi
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Dear Shipra,
Please fill out Form 19 (PF Withdrawal) and Form 10C (EPS Withdrawal). Get them attested either by your previous employer or by the Nationalised Bank Manager. Attach a photocopy of the first page of your Savings Bank Passbook and your Experience Certificate/Service Certificate where your PF Number is mentioned. Don't forget to write your Mobile Number on the top right corner of both applications. By doing so, you will receive SMS alerts about the PF and Pension Contribution amounts credited to your account.
If your application reaches and is accepted by the PF Authorities, you will receive the money in your account within 45 days to 2 months.
Wishing you all the best, Shipra.
From India, Kumbakonam
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Please fill out Form 19 (PF Withdrawal) and Form 10C (EPS Withdrawal). Get them attested either by your previous employer or by the Nationalised Bank Manager. Attach a photocopy of the first page of your Savings Bank Passbook and your Experience Certificate/Service Certificate where your PF Number is mentioned. Don't forget to write your Mobile Number on the top right corner of both applications. By doing so, you will receive SMS alerts about the PF and Pension Contribution amounts credited to your account.
If your application reaches and is accepted by the PF Authorities, you will receive the money in your account within 45 days to 2 months.
Wishing you all the best, Shipra.
From India, Kumbakonam
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Hello Mr. Rao,
As stated in your comment, "if the service rendered by the employee in an organization is below 6 months, he cannot withdraw the amount lying in the Pension Fund at 8.33% under the EPS/FPS-95 Scheme."
Does the above mean that he cannot withdraw any amount from PF or that he is not eligible to withdraw only the Pension amount?
Kindly advise.
Thanks & regards,
Beena
From India, Pune
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As stated in your comment, "if the service rendered by the employee in an organization is below 6 months, he cannot withdraw the amount lying in the Pension Fund at 8.33% under the EPS/FPS-95 Scheme."
Does the above mean that he cannot withdraw any amount from PF or that he is not eligible to withdraw only the Pension amount?
Kindly advise.
Thanks & regards,
Beena
From India, Pune
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Thanks S.Bhaskar. I also want to know that a person can withdarw his complete PF amount by closing his current PF account, while resigning form a company?
From India, New Delhi
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From India, New Delhi
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Hi i have left my company 8 month ago but the company has not forwarded my pf form to pf office & not doing it due to my clearance is there any other way to get my pf
From India, Mumbai
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From India, Mumbai
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Dear Shipra,
Once you resign, if you submit your PF Withdrawal Form 19 and EPS Withdrawal Form (Form 10C), either in cash or as a certificate for the paid period, your PF and EPS accounts will automatically close, and there will not be any balance with the PF Office.
From India, Kumbakonam
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Once you resign, if you submit your PF Withdrawal Form 19 and EPS Withdrawal Form (Form 10C), either in cash or as a certificate for the paid period, your PF and EPS accounts will automatically close, and there will not be any balance with the PF Office.
From India, Kumbakonam
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PF Calculation Sheet To The Subscribers At the Time Of Provident Fund Withdrawal.pdf