I had worked for a company for 2 months. After leaving that company, when I contacted them for my PF payment, their Accounts Personnel told me that it is advisable to transfer the amount to my new PF Account in order to get the full amount. Otherwise, the PF department won't be interested in refunding me the whole amount.
Under these circumstances, what should I do and what is the procedure?
From India, Calcutta
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Under these circumstances, what should I do and what is the procedure?
From India, Calcutta
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I think the Accounts Department has given you good advice. You should transfer your PF through Form No. 13. This form will be filled out by your new employer. If you want to withdraw your PF, then you will receive only 15.67% of the PF, but you will not get the 8.33% of the pension plan because a person receives the pension fund only after completing 6 months of service.
Regards, Raj
From India, Gurgaon
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6Regards, Raj
From India, Gurgaon
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I think the account person is correct. The process which PF Office follows is: if you have worked in a company for less than six months, then only half the amount of the total PF can be withdrawn. The half amount has to be transferred to the next company under the PF number which you will get there. So, it's advisable to transfer the whole amount to the new company.
Thanks,
Neelam
Email: neelam.dhulia@gmail.com
From India, New Delhi
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Thanks,
Neelam
Email: neelam.dhulia@gmail.com
From India, New Delhi
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Information is given the correct. Normally company did’t provide this, it depends upon your behavior in that comapny?? Is it true??
From India, Madras
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From India, Madras
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PF Calculation Sheet To The Subscribers At the Time Of Provident Fund Withdrawal.pdf
Steps to transfer PF amount.jpg