I have a query, please guide me on this, i would like to know that if i’ll leave my organisation, within 2 years, where will my provident fund go. Help me on this..
From India, Hyderabad
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2From India, Hyderabad
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Your PF will not go anywhere. Before leaving the organization, take your PF account number from finance/HR. You can either withdraw the same after submitting the appropriate PF withdrawal form, or if the new company where you will join has PF facility, you can provide the same PF account number. All PF deductions from the new company will be deposited in this account, i.e., no new account will have to be opened again for you.
Hope this information is helpful to you.
Ambika Kamath
From India, Mumbai
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Hope this information is helpful to you.
Ambika Kamath
From India, Mumbai
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When you are leaving the company, you have two options for PF:
1. You can withdraw your PF and Pension amount by submitting Form 19 & 10C.
Or
2. Obtain a PF number from the HR department and submit the same to the new company to transfer your PF and Pension Amount to the new PF number.
Regards,
Amit
From India, Delhi
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1. You can withdraw your PF and Pension amount by submitting Form 19 & 10C.
Or
2. Obtain a PF number from the HR department and submit the same to the new company to transfer your PF and Pension Amount to the new PF number.
Regards,
Amit
From India, Delhi
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Actually, there is a recent amendment in this. I am not sure whether it is an amendment in the Act or just an amendment in the rules, but it is surely there.
As you know, your PF shares go into two accounts, EPF A/c (Employees' Provident Fund) and FPF A/c (Family Pension Fund). If you leave your job within 6 months, you will only get the amount in your EPF account, but NOT the amount in the FPF account; i.e., you can fill out only Form No. 19.
Whereas, if you leave your job after 6 months, you will get both the shares of your PF account, i.e., you can fill out Form 19 as well as Form 10C, or 10D, whichever is applicable.
I don't know why this weird order has been passed, but it is definitely there, and it is a recent amendment.
Cheers,
Kapil
From India, Delhi
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As you know, your PF shares go into two accounts, EPF A/c (Employees' Provident Fund) and FPF A/c (Family Pension Fund). If you leave your job within 6 months, you will only get the amount in your EPF account, but NOT the amount in the FPF account; i.e., you can fill out only Form No. 19.
Whereas, if you leave your job after 6 months, you will get both the shares of your PF account, i.e., you can fill out Form 19 as well as Form 10C, or 10D, whichever is applicable.
I don't know why this weird order has been passed, but it is definitely there, and it is a recent amendment.
Cheers,
Kapil
From India, Delhi
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Hi Amith,
I'm Saritha, and I do not know much about PF. Just trying to learn from CiteHr. As per my understanding, (if I am not wrong) the employee will get a new PF number when he changes the company, and the PF number is not constant or unique. Is it right?? Please clarify the same.
Regards,
Saritha
From India, Bangalore
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I'm Saritha, and I do not know much about PF. Just trying to learn from CiteHr. As per my understanding, (if I am not wrong) the employee will get a new PF number when he changes the company, and the PF number is not constant or unique. Is it right?? Please clarify the same.
Regards,
Saritha
From India, Bangalore
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Hi dear,
I do agree with the suggestion given by Kapil. As you are stating that you have completed your two years of service with the company, you will be given the entire PF amount, and you can also transfer your PF amount to another company.
Thanks and Regards,
Rajeev Pandya
Human Resources
From India, Ahmadabad
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I do agree with the suggestion given by Kapil. As you are stating that you have completed your two years of service with the company, you will be given the entire PF amount, and you can also transfer your PF amount to another company.
Thanks and Regards,
Rajeev Pandya
Human Resources
From India, Ahmadabad
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Yes, Saritha, you are right. Every time you change a company, you will get a new PF number. For example, a PF number consists of at least 3 parts: the state code, the employer code, and the employee code. An example would be DL-12345/01, where DL represents Delhi, 12345 is the PF code of the company, and 01 is the member's or employee's code allotted by the company. As every company has its own PF code, there cannot be a common PF number for an employee if they change the company.
However, in a recent development, an SSN code is being allotted by the PF office to every employee. This SSN code will act as the employee's permanent PF account number regardless of how many companies they change. This system is still in its initial stage and is expected to take another year or two to be fully implemented.
I hope this information helps you. Cheers,
Kapil
From India, Delhi
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However, in a recent development, an SSN code is being allotted by the PF office to every employee. This SSN code will act as the employee's permanent PF account number regardless of how many companies they change. This system is still in its initial stage and is expected to take another year or two to be fully implemented.
I hope this information helps you. Cheers,
Kapil
From India, Delhi
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Hi Kapil,
I was actually looking at some other sites for the PF information, but I found it useful in being a member of CiteHr. Thanks a lot for clarifying the doubt, and thanks to all those who are actively responding to the queries.
Regards,
Saritha
From India, Bangalore
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I was actually looking at some other sites for the PF information, but I found it useful in being a member of CiteHr. Thanks a lot for clarifying the doubt, and thanks to all those who are actively responding to the queries.
Regards,
Saritha
From India, Bangalore
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Hi Shubha,
If every time the PF number changes, how can a person know whether their PF fund from the previous employer has been transferred to the new employer or not, and where they should check for this information?
Please clarify the same.
Regards,
Shubha
From India, New Delhi
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If every time the PF number changes, how can a person know whether their PF fund from the previous employer has been transferred to the new employer or not, and where they should check for this information?
Please clarify the same.
Regards,
Shubha
From India, New Delhi
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Hi, Happy New year to all of you. I have a question. Can we withdraw our PF from the company any time we want? Or we can only do it only when we leave the company??
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Dear All,
This is Isaac Patturaja.
Let me share what I know about PF. When you join any organization with a minimum of 20-25 employees, you will be allotted a PF number by the PF office. The amount (employee contribution + employer contribution) will be added to your account every month.
Once you shift to another company or job, after submitting your resignation letter, ask your admin manager for the PF transfer form/certification, which will be provided by the PF office. Upon joining your new employer, a new PF number will be allocated to you. Collect the PF transfer form/certification from your previous organization and submit it to your current company. By completing this process, your entire amount will transfer to your new PF account.
Note: This process may take 3-6 months. If you wish to close the PF account, you must provide a valid reason such as pursuing higher studies, etc., for the account to be closed.
Best Regards,
Isaac Patturaja
From India, Madras
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This is Isaac Patturaja.
Let me share what I know about PF. When you join any organization with a minimum of 20-25 employees, you will be allotted a PF number by the PF office. The amount (employee contribution + employer contribution) will be added to your account every month.
Once you shift to another company or job, after submitting your resignation letter, ask your admin manager for the PF transfer form/certification, which will be provided by the PF office. Upon joining your new employer, a new PF number will be allocated to you. Collect the PF transfer form/certification from your previous organization and submit it to your current company. By completing this process, your entire amount will transfer to your new PF account.
Note: This process may take 3-6 months. If you wish to close the PF account, you must provide a valid reason such as pursuing higher studies, etc., for the account to be closed.
Best Regards,
Isaac Patturaja
From India, Madras
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Your provident fund is transferred to a government account. You can withdraw your amount two months after the date you leave by filling out Form 19 and 10C for withdrawal. If you have any other queries, please call me at my number.
Ashok Garg
9313849663
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Ashok Garg
9313849663
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Early PF withdrawal won’t be easy.pdf
Steps to transfer PF amount.jpg