Dear Seniors,
Greetings for the day...
My name is Venkat, and I work as an HR Executive at a Maruti Dealership based in Bangalore. I have a query regarding the withdrawal of PF.
Case Overview:
There is an employee who has completed 10 years with the organization and wishes to withdraw 100% without opting for the Pension scheme.
I suggested to the employee to consider a loan since employees can take loans for medical, marriage, house construction, or purchase purposes. However, the employee is adamant about not opting for the Pension scheme, claiming that there is a provision for this if the management agrees.
Kindly assist me in this matter. Is there a provision for avoiding the PF Pension? Are there any other alternatives to withdraw the full PF contribution (both Employee's & Employer's)?
Thanks in advance.
Regards,
Venkat
From India, Bangalore
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Greetings for the day...
My name is Venkat, and I work as an HR Executive at a Maruti Dealership based in Bangalore. I have a query regarding the withdrawal of PF.
Case Overview:
There is an employee who has completed 10 years with the organization and wishes to withdraw 100% without opting for the Pension scheme.
I suggested to the employee to consider a loan since employees can take loans for medical, marriage, house construction, or purchase purposes. However, the employee is adamant about not opting for the Pension scheme, claiming that there is a provision for this if the management agrees.
Kindly assist me in this matter. Is there a provision for avoiding the PF Pension? Are there any other alternatives to withdraw the full PF contribution (both Employee's & Employer's)?
Thanks in advance.
Regards,
Venkat
From India, Bangalore
Acknowledge(0)Amend(0)
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PF & Pension Amdmt Scheme 2010 for IW.pdf
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