Hi all.
I had worked with a BPO for a year from November '05 to December '06.
So I decided that it's been long since I have not withdrawn my PF amount, I called up the company's HR.
I was informed that apart from 'revenue stamps' and a 'cancelled cheque', I would need to submit my bank statements for the past 3 years.
The bank statements are needed to show "as proof" to the EPF office that I was NOT in employment since quitting back in 2006!
I'm not sure if such a submission is mandatory.
Another issue is, I had an ICICI salary account in 2005-2006 which I closed after leaving the company.
And post that, I opened a bank account with HDFC in December 2010. So even if I have to submit my bank statements, I have them for only about 2 years...!
My PF account is with the Chennai PF office. The company is Chennai-based, and I had worked with their Mumbai branch.
Upon speaking to a person from my company in Chennai, he said the PF office would reject my withdrawal/settlement claim as I do not possess the last 3 years of bank statements.
So, as per him, either I could apply for withdrawing/closing my PF either in December 2013 or when I'll be 58, which frankly, I find ludicrous!
What are my options in this case?
Thanks,
Nirav.
From India, Mumbai
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I had worked with a BPO for a year from November '05 to December '06.
So I decided that it's been long since I have not withdrawn my PF amount, I called up the company's HR.
I was informed that apart from 'revenue stamps' and a 'cancelled cheque', I would need to submit my bank statements for the past 3 years.
The bank statements are needed to show "as proof" to the EPF office that I was NOT in employment since quitting back in 2006!
I'm not sure if such a submission is mandatory.
Another issue is, I had an ICICI salary account in 2005-2006 which I closed after leaving the company.
And post that, I opened a bank account with HDFC in December 2010. So even if I have to submit my bank statements, I have them for only about 2 years...!
My PF account is with the Chennai PF office. The company is Chennai-based, and I had worked with their Mumbai branch.
Upon speaking to a person from my company in Chennai, he said the PF office would reject my withdrawal/settlement claim as I do not possess the last 3 years of bank statements.
So, as per him, either I could apply for withdrawing/closing my PF either in December 2013 or when I'll be 58, which frankly, I find ludicrous!
What are my options in this case?
Thanks,
Nirav.
From India, Mumbai
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Hi Nirav,
It is not mandatory to give a 3-year statement. Also, do not worry if you've closed your salary account. Importantly, you need to provide a statement of any bank account where you are a SINGLE HOLDER. A statement with even the last 3 months' transactions is valid proof. If you are providing a bank statement, you do not necessarily need to submit a canceled check.
From India, Ahmedabad
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207It is not mandatory to give a 3-year statement. Also, do not worry if you've closed your salary account. Importantly, you need to provide a statement of any bank account where you are a SINGLE HOLDER. A statement with even the last 3 months' transactions is valid proof. If you are providing a bank statement, you do not necessarily need to submit a canceled check.
From India, Ahmedabad
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Hi Hiral, thanks for your help.
While I was at it, I also spoke to another BPO where I had worked only for a month, by the way. The HR there was very cooperative; however, he mentioned that I would have to submit an affidavit on a Rs. 100 stamp paper explaining my delay in claiming my PF for more than 36 months/3 years! I'm really clueless. The EPF site and other resources I checked do not mention any such documentation. I wonder where the concerned HR individuals came up with these requirements.
I also wanted to check if a company is allowed to arbitrarily decide on just one day of the week for processing PF claims. I was informed that PF work will be processed by HR only on Fridays, and that too between 4 pm to 6 pm. Is this legitimate?
From India, Mumbai
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While I was at it, I also spoke to another BPO where I had worked only for a month, by the way. The HR there was very cooperative; however, he mentioned that I would have to submit an affidavit on a Rs. 100 stamp paper explaining my delay in claiming my PF for more than 36 months/3 years! I'm really clueless. The EPF site and other resources I checked do not mention any such documentation. I wonder where the concerned HR individuals came up with these requirements.
I also wanted to check if a company is allowed to arbitrarily decide on just one day of the week for processing PF claims. I was informed that PF work will be processed by HR only on Fridays, and that too between 4 pm to 6 pm. Is this legitimate?
From India, Mumbai
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Hello,
Yes, you have to submit an affidavit on a Rs. 100 stamp paper with details of the delay in claiming your PF by more than 36 months/3 years and no need for any bank statement. Form 10C & Form 19, with 2 revenue stamps and 1 cancelled cheque. Then the process would be the same, and the amount will be credited to your bank account within 45 days.
Good luck.
Regards,
V V Reddy
From India, Hyderabad
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Yes, you have to submit an affidavit on a Rs. 100 stamp paper with details of the delay in claiming your PF by more than 36 months/3 years and no need for any bank statement. Form 10C & Form 19, with 2 revenue stamps and 1 cancelled cheque. Then the process would be the same, and the amount will be credited to your bank account within 45 days.
Good luck.
Regards,
V V Reddy
From India, Hyderabad
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PF ONLINE WITHDRAWAL PROCESS-(19 & 10C)-2.PDF