Please let me know if we need to have a final settlement with the company before proceeding with PF withdrawal. Can the company withhold the PF amount if the final settlement is not completed?
Regards,
Savpril Verma
From India, Kolkata
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1Regards,
Savpril Verma
From India, Kolkata
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Final Settlement and PF Withdrawal
Final settlement has nothing to do with PF withdrawal. PF can only be withdrawn after two months from the Date of Leaving (D.O.L), which is the last working day in the organization.
Unless your final settlement/no dues are cleared in the organization, you won't be relieved, and they may also withhold or not issue the experience and relieving letter. No one has the right to stop you from withdrawing the PF.
Please let me know if your organization has its own PF trust. In that case, they can hold the PF withdrawal until your final settlement is cleared, but they can't prevent the PF withdrawal.
Thank you.
From United Kingdom, London
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Final settlement has nothing to do with PF withdrawal. PF can only be withdrawn after two months from the Date of Leaving (D.O.L), which is the last working day in the organization.
Unless your final settlement/no dues are cleared in the organization, you won't be relieved, and they may also withhold or not issue the experience and relieving letter. No one has the right to stop you from withdrawing the PF.
Please let me know if your organization has its own PF trust. In that case, they can hold the PF withdrawal until your final settlement is cleared, but they can't prevent the PF withdrawal.
Thank you.
From United Kingdom, London
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Full and Final Settlement Process
Full and final settlement will be done once you leave the organization, and it must be completed by your company. Your leave balance, recovery, etc., will be considered. If there is any recovery, you will have to pay the amount. Conversely, if there is any due, the company will pay you back.
PF Withdrawal Process
PF can be withdrawn only after the completion of 2 months. You need to fill out the withdrawal form and submit it to your organization.
From India, Hyderabad
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Full and final settlement will be done once you leave the organization, and it must be completed by your company. Your leave balance, recovery, etc., will be considered. If there is any recovery, you will have to pay the amount. Conversely, if there is any due, the company will pay you back.
PF Withdrawal Process
PF can be withdrawn only after the completion of 2 months. You need to fill out the withdrawal form and submit it to your organization.
From India, Hyderabad
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It is advised to submit the withdrawal form once the final settlement is completed. Moreover, the withdrawal form submitted by you will be handed over to the department after 60 days from the date of resignation from the company. Before settling the dues, if you submit the withdrawal form, the contribution pertaining to the final settlement will not be a part of your withdrawal. You will not receive the benefits of the final settlement contributions. Moreover, no company will hold the final settlement for 60 days.
Do let us know if further assistance is required.
Thanks,
Srinivasan
Resolve Business Services
Bangalore
From India, Bangalore
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Do let us know if further assistance is required.
Thanks,
Srinivasan
Resolve Business Services
Bangalore
From India, Bangalore
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Dear All, I also want to know if any company not deposited their due to PF office & I want to withdraw my PF then what we can do in this case.. Regards, Manohar Verma
From India, Gurgaon
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From India, Gurgaon
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As per PF rules, the withdrawal is permitted only after 55 years of age.So if the company mentions in the withdrawal application or calls for your present employment details, you will have problem
From India, Madras
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From India, Madras
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PF Withdrawal and Final Settlement
PF withdrawal has no connection with the final settlement. Final settlement and PF withdrawal are two separate issues. You should fill out the appropriate form, duly signed, and submit it 60 days after leaving the job to the ex-employer. The employer cannot stop PF payment. They have to forward your application, duly signed at the appropriate place, to the concerned PF Office before processing.
Regards,
Sibabrata Majumdar
[Phone Number Removed For Privacy Reasons]
Kolkata
From India, Calcutta
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PF withdrawal has no connection with the final settlement. Final settlement and PF withdrawal are two separate issues. You should fill out the appropriate form, duly signed, and submit it 60 days after leaving the job to the ex-employer. The employer cannot stop PF payment. They have to forward your application, duly signed at the appropriate place, to the concerned PF Office before processing.
Regards,
Sibabrata Majumdar
[Phone Number Removed For Privacy Reasons]
Kolkata
From India, Calcutta
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Circular Dated 28-10-2016 for settlement of PF Death Case Claims within 7 days.pdf
Full n final settlement.doc