What options are available to an employee who resigns from an organization? Is there an option to leave the money in the trust to withdraw later, or is it mandatory to withdraw if the employee is not willing to work further?
From India, Madras
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From India, Madras
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Mr.Ramesh You can get it transferred to an establishment you will be joining latter. B.Saikumar Hr & labour Law advisor Mumbai
From India, Mumbai
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1931From India, Mumbai
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Immediate withdrawal is not required, and he will continue to receive interest on the amount kept. However, after 36 months of it becoming non-operative, interest will cease to accrue. Nevertheless, in any case, the amount will not be lapsed.
Regards, Madhu.T.K
From India, Kannur
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Regards, Madhu.T.K
From India, Kannur
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It is not mandatory to withdraw from the Fund. It is your choice. You can either withdraw or transfer it to the present account, or you can retain it with them and withdraw/transfer at any time as per your will and wish.
Regards,
D. Gurumurthy
From India, Hyderabad
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Regards,
D. Gurumurthy
From India, Hyderabad
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Madhu T K has replied that the amount in PF will be getting interest for up to 36 months. Is this still valid in 2015? (The reason is that I resigned from my organization in March 2014 and am currently not employed anywhere, with no plans to join any organization in the future).
Regards,
Seenu.
From India, Bangalore
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Regards,
Seenu.
From India, Bangalore
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PF Calculation Sheet To The Subscribers At the Time Of Provident Fund Withdrawal.pdf