Complex Case Involving Three Companies
Mine is a slightly complex case that needs a bit of explanation as it involves three companies.
Let the companies be denoted by A, B, and C.
After joining Company B, I requested the transfer of my previous PF from Company A to be transferred to the PF account of Company B. While this transfer was in progress, Company B was acquired and changed its name to Company C, creating a new PF account. As a result, I became an employee of Company C. Company C initiated another PF transfer of money from account B to be transferred to C. However, the issue now is that all the money was not transferred to the PF account of Company C. The amount transferred from Company A is still present in the PF account of Company B.
I wish to close the PF account of Company B by withdrawing the money present there. Currently, I am no longer working at Company C. When I submitted the PF closure forms to the PF office of Company B, they are not allowing me to close the account and return my money. It seems the money can only be transferred to my latest company, which I prefer to avoid as it involves another round of complications.
I need assistance on how to proceed with this matter.
Thanks,
Mukund
From United States, Basking Ridge
Acknowledge(0)
Amend(0)
Mine is a slightly complex case that needs a bit of explanation as it involves three companies.
Let the companies be denoted by A, B, and C.
After joining Company B, I requested the transfer of my previous PF from Company A to be transferred to the PF account of Company B. While this transfer was in progress, Company B was acquired and changed its name to Company C, creating a new PF account. As a result, I became an employee of Company C. Company C initiated another PF transfer of money from account B to be transferred to C. However, the issue now is that all the money was not transferred to the PF account of Company C. The amount transferred from Company A is still present in the PF account of Company B.
I wish to close the PF account of Company B by withdrawing the money present there. Currently, I am no longer working at Company C. When I submitted the PF closure forms to the PF office of Company B, they are not allowing me to close the account and return my money. It seems the money can only be transferred to my latest company, which I prefer to avoid as it involves another round of complications.
I need assistance on how to proceed with this matter.
Thanks,
Mukund
From United States, Basking Ridge
Acknowledge(0)Amend(0)
If you have left both Companies B and C, you can withdraw PF simultaneously from both account numbers. You need to write a letter to both companies' PF authorities stating that the transfer form submitted on [date] should be treated as withdrawn. Please mention the reason for leaving Company C and specify that you will withdraw money from both accounts. Please ensure you check the following points:
1. Ensure that your Account B is not marked as inoperative if it has been more than 36 months since your date of leaving.
2. After leaving Company C, make sure you have not joined another company within two months of your departure from Company C.
Regards,
From India, Mumbai
Acknowledge(1)Amend(0)
151. Ensure that your Account B is not marked as inoperative if it has been more than 36 months since your date of leaving.
2. After leaving Company C, make sure you have not joined another company within two months of your departure from Company C.
Regards,
From India, Mumbai
Acknowledge(1)Amend(0)
Technically, I had left Company B on the day I became an employee of Company C. This event occurred more than 36 months ago. I also joined a new company within 2 months of leaving Company C. Can I still withdraw from PF account B? I have already submitted a withdrawal request for PF account C, which has been processed. The withdrawal from PF account B is the issue at hand.
Thank you,
Mukund
From United States, Basking Ridge
Acknowledge(0)Amend(0)
Thank you,
Mukund
From United States, Basking Ridge
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.
Early PF withdrawal won’t be easy.pdf
Guide Lines for PF Withdrawal.doc