I would like to know the amount which I received when I opted for withdrawal at the time of leaving my job.
For example, I contributed Rs 2540, and the employer contributed Rs 2540. The total contribution is Rs 5080. How much do I get at the settlement from the PF office?
From India, Bangalore
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For example, I contributed Rs 2540, and the employer contributed Rs 2540. The total contribution is Rs 5080. How much do I get at the settlement from the PF office?
From India, Bangalore
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Dear Mani, When you withdraw it will be your contribution + employer contribution + interest. Regards Sathiya
From India, Madras
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2From India, Madras
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Dear Sathya,
I am aware that I receive both employer and employee contributions. However, I understand that the authority will only pay the employer contribution of 12% and 8.33% on the employee contribution. Is that correct? This is what I would like to know.
Thanks
From India, Bangalore
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I am aware that I receive both employer and employee contributions. However, I understand that the authority will only pay the employer contribution of 12% and 8.33% on the employee contribution. Is that correct? This is what I would like to know.
Thanks
From India, Bangalore
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A member of the provident fund can withdraw the full amount credited in the fund on retirement from service after attaining the age of 55 years. The full amount in the provident fund can also be withdrawn by the member under the following circumstances:
- A member who has not attained the age of 55 years at the time of termination of service.
- A member who is retired on account of permanent and total disablement due to bodily or mental infirmity.
- On migration from India for permanent settlement abroad or for taking employment abroad.
- In the case of mass or individual retrenchment.
In the case of the following contingencies, the payment of the provident fund can be made after completing a continuous period of not less than two months immediately preceding the date on which the application for withdrawal is made by the member:
- Where employees of a closed establishment are transferred to another establishment not covered under the Act.
- Where a member is discharged and is given retrenchment compensation under the Industrial Dispute Act, 1947.
Withdrawal before retirement:
A member can withdraw up to 90% of the amount in the provident fund after attaining the age of 54 years or within one year before actual retirement on superannuation, whichever is later. The claim application in Form 19 may be submitted to the concerned Provident Fund Office.
Hope your doubt is clear now.
Please feel free to contact for any further clarification.
Regards,
Shashi Kant Upadhyay
From India, New Delhi
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- A member who has not attained the age of 55 years at the time of termination of service.
- A member who is retired on account of permanent and total disablement due to bodily or mental infirmity.
- On migration from India for permanent settlement abroad or for taking employment abroad.
- In the case of mass or individual retrenchment.
In the case of the following contingencies, the payment of the provident fund can be made after completing a continuous period of not less than two months immediately preceding the date on which the application for withdrawal is made by the member:
- Where employees of a closed establishment are transferred to another establishment not covered under the Act.
- Where a member is discharged and is given retrenchment compensation under the Industrial Dispute Act, 1947.
Withdrawal before retirement:
A member can withdraw up to 90% of the amount in the provident fund after attaining the age of 54 years or within one year before actual retirement on superannuation, whichever is later. The claim application in Form 19 may be submitted to the concerned Provident Fund Office.
Hope your doubt is clear now.
Please feel free to contact for any further clarification.
Regards,
Shashi Kant Upadhyay
From India, New Delhi
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Dear Manian,
It's the other way around. The employee contribution (12%) will be paid in full to you, and 3.67% of the employer's contribution will be paid if your service is less than 6 months. If your service is more than 6 months, you will receive the remaining 8.33% (EPS) with interest at 8.5% for the amount standing payable at the time of releasing the payment.
I hope I have clarified your doubt.
Regards,
Suresh Ramalingam
From India, Mumbai
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It's the other way around. The employee contribution (12%) will be paid in full to you, and 3.67% of the employer's contribution will be paid if your service is less than 6 months. If your service is more than 6 months, you will receive the remaining 8.33% (EPS) with interest at 8.5% for the amount standing payable at the time of releasing the payment.
I hope I have clarified your doubt.
Regards,
Suresh Ramalingam
From India, Mumbai
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An employee can get full withdrawal provided he has less than 10 years of service. Whereas, if he has more than 10 years of service, his pension fund (i.e., Employer's contribution limited to 8.33%) will be paid only as a pension. He can draw the Provident fund amount (i.e., his share of 12% + employer's share 3.67%).
Madhu.T.K
From India, Kannur
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Madhu.T.K
From India, Kannur
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PF Calculation Sheet To The Subscribers At the Time Of Provident Fund Withdrawal.pdf
PF WITHDRAWAL RULES.zip