I would like to know if there is any time limit for the withdrawal of PF from a company trust. One employee has resigned and given a full one month's notice period, and he says that since the PF is with the company trust, the withdrawing money can be paid immediately along with the full and final settlement. I would also like to know, since he has completed only 2 years and 10 months of service here, is the PF withdrawal amount taxable?
M A Khan
From India, Thana
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M A Khan
From India, Thana
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Khan,
Advise him to transfer the PF rather than withdraw. Since he has rendered less than 5 years of service, the contributions of the employer and the interest accrued on his contribution and the employer's contribution are taxable.
pon
From India, Lucknow
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616Advise him to transfer the PF rather than withdraw. Since he has rendered less than 5 years of service, the contributions of the employer and the interest accrued on his contribution and the employer's contribution are taxable.
pon
From India, Lucknow
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Dear Khan,
As we know, it is not beneficial for an employee to withdraw their PF amount after a short service of 2 years and 10 months; they should opt to transfer the PF amount instead. In case of urgency, after submitting the resignation, it will take 2-3 months to process the PF withdrawal amount. Yes, the PF withdrawal amount is taxable due to the interest accrued on contributions.
Thank you.
From India, Bhopal
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As we know, it is not beneficial for an employee to withdraw their PF amount after a short service of 2 years and 10 months; they should opt to transfer the PF amount instead. In case of urgency, after submitting the resignation, it will take 2-3 months to process the PF withdrawal amount. Yes, the PF withdrawal amount is taxable due to the interest accrued on contributions.
Thank you.
From India, Bhopal
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My problem is a little strange. I have an almost 6-year-old PF number from my ex-employer. I worked at Nokia India Pvt Ltd until 2011. I tried to check my balance via the EPF web portal, but it shows an error with my PF number. So, probably Nokia was maintaining a Private PF trust.
Now, I want to withdraw my PF money, but the issue is I don't know how to proceed in the case of a Private PF trust. I also can't ask or check with Nokia as the company was acquired by Microsoft in 2012. They now have different offices and staff. I tried to trace the process via emails, but there has been no response from the company. I personally have no connections in the company now.
The company is closed or has been acquired and had a Private PF trust. Please suggest a resolution. I am currently not working.
From India, Bangalore
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Now, I want to withdraw my PF money, but the issue is I don't know how to proceed in the case of a Private PF trust. I also can't ask or check with Nokia as the company was acquired by Microsoft in 2012. They now have different offices and staff. I tried to trace the process via emails, but there has been no response from the company. I personally have no connections in the company now.
The company is closed or has been acquired and had a Private PF trust. Please suggest a resolution. I am currently not working.
From India, Bangalore
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Nitin,
This link may be useful to you: [EPFO launches online PF transfer facility for PF trusts - The Economic Times](http://economictimes.indiatimes.com/wealth/personal-finance-news/epfo-launches-online-pf-transfer-facility-for-pf-trusts/articleshow/45388445.cms)
From India, Lucknow
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This link may be useful to you: [EPFO launches online PF transfer facility for PF trusts - The Economic Times](http://economictimes.indiatimes.com/wealth/personal-finance-news/epfo-launches-online-pf-transfer-facility-for-pf-trusts/articleshow/45388445.cms)
From India, Lucknow
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Hi Nitin,
Thank you, Pon1965, for your guidance. However, I can't find any process steps over there. The article mentions that "the facility will be available for employees' changing jobs from an exempted establishment (PF trusts) to an un-exempted establishment (maintaining accounts with EPFO)." In my case, I need to withdraw the PF amount as I have not been working for the past couple of years.
Please advise me on how and where I should proceed to obtain information about my employer's PF trust when the company has changed after merging with another organization. If anyone on the forum knows a resolution to my issue, please help me.
P.S. Is there any private agency/agent that provides services to help retrieve stuck PF amounts in companies?
Thanks,
Nitin
From India, Bangalore
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Thank you, Pon1965, for your guidance. However, I can't find any process steps over there. The article mentions that "the facility will be available for employees' changing jobs from an exempted establishment (PF trusts) to an un-exempted establishment (maintaining accounts with EPFO)." In my case, I need to withdraw the PF amount as I have not been working for the past couple of years.
Please advise me on how and where I should proceed to obtain information about my employer's PF trust when the company has changed after merging with another organization. If anyone on the forum knows a resolution to my issue, please help me.
P.S. Is there any private agency/agent that provides services to help retrieve stuck PF amounts in companies?
Thanks,
Nitin
From India, Bangalore
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Hi NITINSBYTE,
Have you got your Nokia PF amount/transferred to the present PF account? I'm also facing the same issue, trying to transfer my Nokia PF to the present PF account. Kindly share if you have any information regarding this. Thanks.
From India, Hyderabad
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Have you got your Nokia PF amount/transferred to the present PF account? I'm also facing the same issue, trying to transfer my Nokia PF to the present PF account. Kindly share if you have any information regarding this. Thanks.
From India, Hyderabad
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SV Vijayan, Yes, i managed to withdrawal my Nokia PF money. I directly contacted with Nokia office and they helped nicely. Thanks to Nokia,u were great cellphone maker as well as great employer.
From India, Bangalore
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From India, Bangalore
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Hi NITINSBYTE, Can you please share the Nokia Office contact that you were communicating to in this regard. Thanks, Raj.
From India, Bengaluru
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From India, Bengaluru
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