Respected Seniors, I am working in the garment industry as an HR Executive. I am new in this field. Please solve my query. If someone has a savings account in the post office, can he get his PF amount in his post office savings account?
Thanking you
From India, Ludhiana
Acknowledge(1)
Amend(0)
3Thanking you
From India, Ludhiana
Acknowledge(1)Amend(0)
Hi Ranvijay, Yes, if you go for withdrawal, you can get your PF amount in your existing post office savings account. Regards, Vijay Kumar
From India, Silvassa
Acknowledge(1)Amend(0)
From India, Silvassa
Acknowledge(1)Amend(0)
Dear All,
A PF account with the EPFO carries with it other related benefits such as the Pension Scheme, Employees' Deposit Linked Insurance benefit, etc. These are related to each other. Pension is admissible to a member of the PF after his retirement or to the nominees after his death. So, a PF account has no substitute.
Thanks & regards,
From India, Pune
Acknowledge(0)Amend(0)
A PF account with the EPFO carries with it other related benefits such as the Pension Scheme, Employees' Deposit Linked Insurance benefit, etc. These are related to each other. Pension is admissible to a member of the PF after his retirement or to the nominees after his death. So, a PF account has no substitute.
Thanks & regards,
From India, Pune
Acknowledge(0)Amend(0)
Understanding Different Types of PF Accounts
You are confused with two types of PF accounts.
1. Employees' Provident Fund is a social security benefit that is deducted from your salary by the employer and credited to the PF authorities along with the company contribution. This can be settled after retirement or resignation if you are not joining any company further. If you join another company, the amount will be transferred to the new company account.
2. PPF - Public Provident Fund - This can be opened in the State Bank of India by you personally, and you can deposit the amount from your own savings.
Therefore, the PF amount from your salary cannot be remitted to any post office account or your bank account.
From India, Madras
Acknowledge(2)Amend(0)
You are confused with two types of PF accounts.
1. Employees' Provident Fund is a social security benefit that is deducted from your salary by the employer and credited to the PF authorities along with the company contribution. This can be settled after retirement or resignation if you are not joining any company further. If you join another company, the amount will be transferred to the new company account.
2. PPF - Public Provident Fund - This can be opened in the State Bank of India by you personally, and you can deposit the amount from your own savings.
Therefore, the PF amount from your salary cannot be remitted to any post office account or your bank account.
From India, Madras
Acknowledge(2)Amend(0)
Please forgive me for saying this, but everyone seems to be in a hurry to give answers or suggestions without understanding the actual issue. Sometimes, it's better to ask a counter-question to precisely understand what help the member (in this case, Ranvijay) is seeking. This will bring clarity to the issue for both the information seeker and the contributor.
Thanks
From India, Delhi
Acknowledge(0)Amend(0)
Thanks
From India, Delhi
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
PF ONLINE WITHDRAWAL PROCESS-(19 & 10C)-2.PDF