PF Settlement
I joined ING VYSYA Life Insurance Co. Ltd. on 01/05/07 and resigned on 07/12/07. I submitted my PF form at the ING area office in Lucknow on 29/11/08. HR informed me that the settlement process would be completed within 45 days and the PF amount would be credited to my account within a maximum of 60 days. However, the time has exceeded, and despite my continuous follow-ups with HR, there has been no response. Please inform me about the processing status of my PF Settlement.
My PF No. is KN/25113/10040.
I await your response at the earliest.
From India, Jaipur
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I joined ING VYSYA Life Insurance Co. Ltd. on 01/05/07 and resigned on 07/12/07. I submitted my PF form at the ING area office in Lucknow on 29/11/08. HR informed me that the settlement process would be completed within 45 days and the PF amount would be credited to my account within a maximum of 60 days. However, the time has exceeded, and despite my continuous follow-ups with HR, there has been no response. Please inform me about the processing status of my PF Settlement.
My PF No. is KN/25113/10040.
I await your response at the earliest.
From India, Jaipur
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The delay may be due to some technical problems associated with the filling of the forms, Form 19 and Form 10 C. Please contact the Sub-Regional Office of the Employees' Provident Fund Organisation where your company's returns were filed. You can also get information from the website of EPFO, provided the same is updated.
Regards,
Madhu.T.K
From India, Kannur
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4526Regards,
Madhu.T.K
From India, Kannur
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Hi Jitendra,
Please confirm with your previous organization (ING) whether they have submitted your PF withdrawal forms to the PF office or not. Sometimes, they may have lost the PF forms or forgotten to submit them. The first step is to confirm the submission. If yes, then please ask them to provide you with an acknowledgment copy of the same.
Based on that confirmation, you can coordinate directly with the PF department as well as with your previous organization. It is crucial to communicate in writing whenever you coordinate with anyone. You can check your PF withdrawal status at the below-mentioned web address: [EPF India](http://epfindia.nic.in).
Regards,
Tushar Swar
From India, Mumbai
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Please confirm with your previous organization (ING) whether they have submitted your PF withdrawal forms to the PF office or not. Sometimes, they may have lost the PF forms or forgotten to submit them. The first step is to confirm the submission. If yes, then please ask them to provide you with an acknowledgment copy of the same.
Based on that confirmation, you can coordinate directly with the PF department as well as with your previous organization. It is crucial to communicate in writing whenever you coordinate with anyone. You can check your PF withdrawal status at the below-mentioned web address: [EPF India](http://epfindia.nic.in).
Regards,
Tushar Swar
From India, Mumbai
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dear jitendra mr tushar has given good suggestion ,first u confirm whether your form has been deposited thanconfirm from PF offixce for delay. tks j s malik
From India, Delhi
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From India, Delhi
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Hi Jitendra,
Nice suggestion given by Tusar. But first, confirm whether your previous employer, i.e., Ing Vys, has its own trust for PF, or they deposit the contribution for RPFC.
Secondly, in case of transfer, the papers will be processed after 60 days, and after that, it takes approximately 30-45 days to get settled.
Naveen
From India, Visakhapatnam
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Nice suggestion given by Tusar. But first, confirm whether your previous employer, i.e., Ing Vys, has its own trust for PF, or they deposit the contribution for RPFC.
Secondly, in case of transfer, the papers will be processed after 60 days, and after that, it takes approximately 30-45 days to get settled.
Naveen
From India, Visakhapatnam
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Hi, I am MBA Students in Finance Stream. I have project on recruitment & selection process. Can some send me PPT for the same. Rgds, Rakesh
From India, Mumbai
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From India, Mumbai
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Dear all,
I am from Chennai. Please rectify my doubts on PF cancellation:
1. If the person joined on 1-Sep-08 and was relieved on 12-Feb-09, should he have to fill out both Form 10C and 19?
2. What is the maximum number of days to credit the amount after submission, according to the law?
3. Can the employee take the form directly to the PF office for PF cancellation?
Thank you.
From India, Madras
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I am from Chennai. Please rectify my doubts on PF cancellation:
1. If the person joined on 1-Sep-08 and was relieved on 12-Feb-09, should he have to fill out both Form 10C and 19?
2. What is the maximum number of days to credit the amount after submission, according to the law?
3. Can the employee take the form directly to the PF office for PF cancellation?
Thank you.
From India, Madras
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Hello Jitendra,
First, please confirm with your old office (INGVYS) whether the Form 19 and 10-C have been submitted. Additionally, you must personally visit the sub-regional office to seek clarification either through the Public Relations Officer or the concerned Accounts Officers.
P. SATHEESRAJA, HR Executive.
Coimbatore.
From India, Madras
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First, please confirm with your old office (INGVYS) whether the Form 19 and 10-C have been submitted. Additionally, you must personally visit the sub-regional office to seek clarification either through the Public Relations Officer or the concerned Accounts Officers.
P. SATHEESRAJA, HR Executive.
Coimbatore.
From India, Madras
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Hi Brother,
Please note that as per the law, employees will not receive the employer's pension contribution (8.33% of basic salary) related to Form 10c unless he/she completes 6 months in the organization. So in your case, he needs to fill out only Form 19 related to the employer's provident fund, which is 3.67% of the basic salary, as the employee has not completed 6 months.
The application will be filed by the company only after 2 months of the employee's exit from the organization, and the amount will be credited 45 days after the application. I hope things are clear now.
From India, Delhi
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Please note that as per the law, employees will not receive the employer's pension contribution (8.33% of basic salary) related to Form 10c unless he/she completes 6 months in the organization. So in your case, he needs to fill out only Form 19 related to the employer's provident fund, which is 3.67% of the basic salary, as the employee has not completed 6 months.
The application will be filed by the company only after 2 months of the employee's exit from the organization, and the amount will be credited 45 days after the application. I hope things are clear now.
From India, Delhi
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Dear Brother,
Good Morning.
As we know very well, once an employee has joined any organization and wants to leave the company immediately after a month, they would be eligible for the PF amount.
I have read your question carefully, and the details are as follows:
1) Of course, you have to fill up Form 10C and 19.
Now, the government has decided to frame the policy for private companies regarding the pension scheme. Before this decision, the pension scheme was only followed by the government sector.
Form 10C is for the pension scheme, meaning that if an employee has been working in the same company for more than 10 years, they can apply for a pension scheme and receive the amount accordingly. If you do not want to take this amount, it is possible to transfer the same amount to the new company.
Form 19 is for the PF amount, which is deducted from your salary every month. The deducted amount will be paid by the company to your PF account on the 15th of every month (including both employer and employee contributions, with a certain percentage going to your pension scheme).
2) The amount will be transferred to your account within 30 to 45 days.
3) Most companies have assigned a separate person solely responsible for handling PF and ESI.
If your company follows the same procedure as above, there is no need to visit the PF office directly to cancel the PF number. Once the amount has been transferred, the PF number will be canceled automatically.
From India, Madras
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Good Morning.
As we know very well, once an employee has joined any organization and wants to leave the company immediately after a month, they would be eligible for the PF amount.
I have read your question carefully, and the details are as follows:
1) Of course, you have to fill up Form 10C and 19.
Now, the government has decided to frame the policy for private companies regarding the pension scheme. Before this decision, the pension scheme was only followed by the government sector.
Form 10C is for the pension scheme, meaning that if an employee has been working in the same company for more than 10 years, they can apply for a pension scheme and receive the amount accordingly. If you do not want to take this amount, it is possible to transfer the same amount to the new company.
Form 19 is for the PF amount, which is deducted from your salary every month. The deducted amount will be paid by the company to your PF account on the 15th of every month (including both employer and employee contributions, with a certain percentage going to your pension scheme).
2) The amount will be transferred to your account within 30 to 45 days.
3) Most companies have assigned a separate person solely responsible for handling PF and ESI.
If your company follows the same procedure as above, there is no need to visit the PF office directly to cancel the PF number. Once the amount has been transferred, the PF number will be canceled automatically.
From India, Madras
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Hi I have one doubt. Can we claim for both Medical reimbursent and Mediclaim policy at the same time as per IT act. If it is possible? Tamil...
From India, Madras
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From India, Madras
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In the case of Jitendra, withdrawal of both employee's and employer's share is possible since he has made contributions for more than six months.
In the case of Brother, since he has not completed six months, he can withdraw PF only, and the Pension fund will not be paid.
Pensionable service is counted in such a way that a fraction of service of more than six months will be rounded to the next whole figure, and less than six months will be ignored. An employee who has served for 15 years and 7 months will be eligible for pension benefits equivalent to 16 years, while one who has served 15 years and 4 months will receive benefits for 15 years of service only. Employees leaving service without completing at least six months are not paid the pension fund amount. However, for transfer cases, i.e., for transferring the funds using Form 13 when joining another establishment or for obtaining a scheme certificate, this rule does not apply. Therefore, if you do not withdraw the amount but get it transferred when you join a new organization, the employer's contributions will also be transferred.
Regards,
Madhu.T.K
From India, Kannur
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In the case of Brother, since he has not completed six months, he can withdraw PF only, and the Pension fund will not be paid.
Pensionable service is counted in such a way that a fraction of service of more than six months will be rounded to the next whole figure, and less than six months will be ignored. An employee who has served for 15 years and 7 months will be eligible for pension benefits equivalent to 16 years, while one who has served 15 years and 4 months will receive benefits for 15 years of service only. Employees leaving service without completing at least six months are not paid the pension fund amount. However, for transfer cases, i.e., for transferring the funds using Form 13 when joining another establishment or for obtaining a scheme certificate, this rule does not apply. Therefore, if you do not withdraw the amount but get it transferred when you join a new organization, the employer's contributions will also be transferred.
Regards,
Madhu.T.K
From India, Kannur
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Hi,
Can someone please advise if we need to provide PF if the basic salary is above 6500/-. Our employee strength is 25.
As per our consultant, once a person is covered under PF by any of his ex-employers, he has to be covered by his present company as well.
Please confirm. It's very urgent.
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Can someone please advise if we need to provide PF if the basic salary is above 6500/-. Our employee strength is 25.
As per our consultant, once a person is covered under PF by any of his ex-employers, he has to be covered by his present company as well.
Please confirm. It's very urgent.
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PF guidleines for Pension fund.pdf
Settlement of PF & Pension on the day of Retirement.docx