Dear PF Experts, Kindly advise whether it is permissible as per the PF Rules:
1.0 Transfer of PF Accumulation from Trust to Government Code
We are having a PF Trust and also a separate PF Code. Can we transfer PF accumulation from some of the employees from the Trust to the Government Code and allow employees to contribute to the RPFC Code? There may or may not be a request from the concerned employees.
2.0 Transfer of PF Accumulation for New Employee
We have hired an employee who is a PF Member in the existing organization through the Government PF Code. Now, he wants his PF accumulation to be transferred to the Government PF code, and his contribution should also be made through the Government Code. Is it permissible?
Regards,
KK Agrawal
From India, Delhi
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191.0 Transfer of PF Accumulation from Trust to Government Code
We are having a PF Trust and also a separate PF Code. Can we transfer PF accumulation from some of the employees from the Trust to the Government Code and allow employees to contribute to the RPFC Code? There may or may not be a request from the concerned employees.
2.0 Transfer of PF Accumulation for New Employee
We have hired an employee who is a PF Member in the existing organization through the Government PF Code. Now, he wants his PF accumulation to be transferred to the Government PF code, and his contribution should also be made through the Government Code. Is it permissible?
Regards,
KK Agrawal
From India, Delhi
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Usually, in any organization, there is one PF Trust and EPFO Code that do not exist. Even if they exist, the TRUST must be exempted from EPFO and Income Tax; otherwise, it will not be considered a valid Trust. In that case, all members' money must be transferred from the Trust to EPFO with interest. Employees will continue depositing their contributions to EPFO only. I do not know whether the PF Trust is already exempted by EPFO. If not, then immediately transfer all money for all Trust members to EPFO with accumulated interest, showing proper calculation data.
S K Bandyopadhyay (WB, Howrah) CEO-USD HR Solutions [Phone Number Removed For Privacy-Reasons] [Email Removed For Privacy Reasons] http://www.usdhrs.in
From India, New Delhi
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S K Bandyopadhyay (WB, Howrah) CEO-USD HR Solutions [Phone Number Removed For Privacy-Reasons] [Email Removed For Privacy Reasons] http://www.usdhrs.in
From India, New Delhi
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PF Transfer Request Letter - For PF Trust.doc
Steps to transfer PF amount.jpg
13revised (PF TRANSFER).pdf