I left my job 6 months ago after working with that company for 4 years and 20 days. I have not yet applied for PF withdrawal. Currently, I am working in another company with a new PF account that was created by my current employer. Can I apply for withdrawal of my previous PF amount now, or should I wait for the completion of 5 years to avail of any non-tax deduction benefits?
From India, Bhubaneswar
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From India, Bhubaneswar
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For Income Tax exemption, there should be a contribution of 5 years in EPF. Since you have a service of 4 years and 20 days only, to qualify for the exemption, transfer the previous PF to be clubbed with your current service.
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Abbas.P.S
From India, Bangalore
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530Regards,
Abbas.P.S
From India, Bangalore
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First of all, you are not entitled to withdraw your PF accumulation but to transfer it to your new account since you are in employment wherein PF is deducted from your salary unless there is at least 60 days of non-employment between your old employment and new employment.
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From India, Mumbai
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From India, Mumbai
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Transfer and keep the a/c regular...... It is better to keep the a/c regular and build corpus and be eligible for pension
From India, Chandigarh
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From India, Chandigarh
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It is better to have your PF A/C transferred with the new employer by filling up the requisite forms and submitting to Regional PF Commissioner.
From India, Bokaro
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From India, Bokaro
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Thanks for reply, but my new company had already created a new PF account & its already 6 months past. So please help me out to withdraw my PF balance.
From India, Bhubaneswar
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From India, Bhubaneswar
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Dear Avijitdas70, To withdraw your PF balance from old as well as new account, you have to resign (leave) from job and join the company which is not having PF scheme. Hope you understood what I said.
From India, Mumbai
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From India, Mumbai
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In my view, you can withdraw your PF currently from your previous organization. The same happened with me; I left one organization and joined another but did not fill out my PF form. After 6-7 months, I went to my previous organization and filled out the PF form. I received my PF money within 2 months.
From India, Dehra Dun
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From India, Dehra Dun
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As per the latest news, the central government has introduced a new concept called the UAN Number, which will reduce your concerns regarding withdrawal and transfer. Get your UAN number from your previous employer and proceed with the transfer so that you will have all your data from the past 4.2 years in a single account. According to government policies, you are not eligible for withdrawal as you are currently employed.
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From India, Hyderabad
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From India, Hyderabad
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Tax on premature PF withdrawal.pdf
Guide Lines for PF Withdrawal.doc