Employee PF and Pension Withdrawal Queries
As we know, after leaving the service, an employee can withdraw their PF part amount as well as the pension part amount. On the other hand, if the continuous service period is 9.5 years, then the employee can only withdraw their PF part amount and become a pensioner.
In my case, an employee has been in continuous service for 9 years and 4 months, and now he is requesting to withdraw all his PF and pension part amounts because he is not willing to take the pension. He is currently continuing to work with us, and due to the pension applicability after 9.5 years, he also wishes to leave the company.
Queries Regarding PF and Pension Withdrawal
Kindly suggest to me:
Q1. Can any employee withdraw PF & Pension without leaving the company?
Q2. After 9.5 years of service, can anyone withdraw the pension part amount instead of opting for the pension scheme?
Q3. What solutions can be used for this issue?
Thanks & Regards,
Dwarkadhish
From India, Pilani
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As we know, after leaving the service, an employee can withdraw their PF part amount as well as the pension part amount. On the other hand, if the continuous service period is 9.5 years, then the employee can only withdraw their PF part amount and become a pensioner.
In my case, an employee has been in continuous service for 9 years and 4 months, and now he is requesting to withdraw all his PF and pension part amounts because he is not willing to take the pension. He is currently continuing to work with us, and due to the pension applicability after 9.5 years, he also wishes to leave the company.
Queries Regarding PF and Pension Withdrawal
Kindly suggest to me:
Q1. Can any employee withdraw PF & Pension without leaving the company?
Q2. After 9.5 years of service, can anyone withdraw the pension part amount instead of opting for the pension scheme?
Q3. What solutions can be used for this issue?
Thanks & Regards,
Dwarkadhish
From India, Pilani
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Dear Dwarkadhish ji, Question-wise answers are as follows:
Q1. Can any employee withdraw PF & Pension without leaving the company? No employee can withdraw their PF & Pension without leaving the company.
Q2. After 9.5 years of service, can anyone withdraw a part of the pension amount instead of opting for the pension scheme? After 10 years of service, no one can withdraw the pension amount. The option to withdraw the pension amount ceases upon completing 10 years of pensionable service.
Q3. What solution can be used for this issue? I do not understand the question.
I hope this helps.
Regards,
From India, Mumbai
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2584Q1. Can any employee withdraw PF & Pension without leaving the company? No employee can withdraw their PF & Pension without leaving the company.
Q2. After 9.5 years of service, can anyone withdraw a part of the pension amount instead of opting for the pension scheme? After 10 years of service, no one can withdraw the pension amount. The option to withdraw the pension amount ceases upon completing 10 years of pensionable service.
Q3. What solution can be used for this issue? I do not understand the question.
I hope this helps.
Regards,
From India, Mumbai
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