Hello,
Is it compulsory to withdraw PF upon leaving the job? An employee has worked for three years in an MNC. Now, the employee is in self-employment. The employee doesn't want to withdraw the PF as they may lose the employer's contribution if withdrawn earlier than five years.
Kindly advise.
Warm regards
From India, Delhi
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Is it compulsory to withdraw PF upon leaving the job? An employee has worked for three years in an MNC. Now, the employee is in self-employment. The employee doesn't want to withdraw the PF as they may lose the employer's contribution if withdrawn earlier than five years.
Kindly advise.
Warm regards
From India, Delhi
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If he has been a member of the Employees' Provident Fund, he will not lose the employer's share if he has worked for at least 6 months. However, if he is not presently working, he can apply for withdrawal of the Provident Fund only and simultaneously apply for a scheme certificate in lieu of the withdrawal benefit of the Pension Fund to which 8.33% of the employer's contribution goes.
Regards,
Madhu.T.K
From India, Kannur
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4556Regards,
Madhu.T.K
From India, Kannur
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PF WITHDRAWAL RULES.zip
EPF-Circular-da ted-23-May-2011 -Splitting-of-M inimum-Wages-fo r-the-Purpose-o f-PF-Contributi on-Not.pdf