Hi HRs,
Please advise whether it is better to transfer PF or to withdraw? What are all the positives and negatives for both? I am currently in TN and moving to Karnataka for the next job.
Regards,
Ravi
From Japan, Tokyo
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Please advise whether it is better to transfer PF or to withdraw? What are all the positives and negatives for both? I am currently in TN and moving to Karnataka for the next job.
Regards,
Ravi
From Japan, Tokyo
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Hi As PF is a long term benefit , so u should not withdraw the amount, rather by filling FORM 13 , u can transfer the amount, to your current account. katyana
From India, Gurgaon
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36From India, Gurgaon
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Hi, Its better to tranfer PF to another company and get it accumulated for 5 years.After 5 years,you can withdraw your PF so that there will will be no tax deduction on it.
From India, Mumbai
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From India, Mumbai
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Please transfer the PF accumulations from your previous employer's account.
Benefits:
1. You will have funds for your future (definitely a savings without our knowledge).
2. Pension availability in your old age - which is definitely an indirect investment.
3. You are on the benefit side to draw in your needy time in the form of advances under sec. 68 - which needs years of service and fund.
Disadvantage:
1. It will not be available fully at the time of your requirement - if your present requirement is important.
ADVISED TO TRANSFER BY FORM 13 BY HAVING A COPY WITH YOU.
Thanks,
P. RAMACHANDRAN
From India, Madras
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Benefits:
1. You will have funds for your future (definitely a savings without our knowledge).
2. Pension availability in your old age - which is definitely an indirect investment.
3. You are on the benefit side to draw in your needy time in the form of advances under sec. 68 - which needs years of service and fund.
Disadvantage:
1. It will not be available fully at the time of your requirement - if your present requirement is important.
ADVISED TO TRANSFER BY FORM 13 BY HAVING A COPY WITH YOU.
Thanks,
P. RAMACHANDRAN
From India, Madras
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Hi,
Don't withdraw your PF amount. Please transfer your PF amount through Form 16 to your new company. The time value of money is important. In the future, this PF amount will be more useful to you. You will receive the employer's contribution towards PF, and the interest will depend on the time period.
WISH YOU ALL SUCCESS.
Thanks,
GopalaKrishna Murthy B.
From India, Hyderabad
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Don't withdraw your PF amount. Please transfer your PF amount through Form 16 to your new company. The time value of money is important. In the future, this PF amount will be more useful to you. You will receive the employer's contribution towards PF, and the interest will depend on the time period.
WISH YOU ALL SUCCESS.
Thanks,
GopalaKrishna Murthy B.
From India, Hyderabad
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Early PF withdrawal won’t be easy.pdf
Steps to transfer PF amount.jpg
Employee Benefits.doc