Hi,
I worked in a company for 2 months, then I shifted to another company. Is it possible to withdraw my PF amount? The PF amount is very less, so I plan to withdraw rather than transfer to a new account. Please guide me on this. Is there any rule that the PF amount could not be withdrawn after 2 months of service at the company? What is the minimum number of months needed to work to withdraw the PF amount?
Regards,
Arun Kumar G.
From India
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I worked in a company for 2 months, then I shifted to another company. Is it possible to withdraw my PF amount? The PF amount is very less, so I plan to withdraw rather than transfer to a new account. Please guide me on this. Is there any rule that the PF amount could not be withdrawn after 2 months of service at the company? What is the minimum number of months needed to work to withdraw the PF amount?
Regards,
Arun Kumar G.
From India
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Dear Arun,
The PF can be withdrawn even if you have worked with a company for a few days; however, the pension amount (541 or 8.33% of basic, whichever is lower) can only be withdrawn after staying with the company for 6 months or more. I suggest that you get the PF amount transferred to the new account; by doing this, you will not lose the contribution towards the pension.
Best wishes,
Sunil Joshi
Manager - Human Resources
PGCHRM - XLRI
From United States, Bedford
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16The PF can be withdrawn even if you have worked with a company for a few days; however, the pension amount (541 or 8.33% of basic, whichever is lower) can only be withdrawn after staying with the company for 6 months or more. I suggest that you get the PF amount transferred to the new account; by doing this, you will not lose the contribution towards the pension.
Best wishes,
Sunil Joshi
Manager - Human Resources
PGCHRM - XLRI
From United States, Bedford
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