i want to withdraw my PF account of the old compnies which i was working for please suggest me ho do i go after it
From India, Bhubaneswar
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From India, Bhubaneswar
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Usually, when you change jobs, you don't have to withdraw the PF account need not be changed or emptied. Don't withdraw if you are young enough. Give your PF account number to your new employer who will arrange to deposit PF deductions into your account.
If you don't want to continue that account and withdraw all the accumulated money, ask for a form for such final closure, fill it, give your bank account number, etc., and give it to the employer who will forward it under his seal; in about 45 days, you will get your balance into your bank account.
These forms are available with the employer or local PF office.
Dr. Appalayya (
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From India, Hyderabad
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5If you don't want to continue that account and withdraw all the accumulated money, ask for a form for such final closure, fill it, give your bank account number, etc., and give it to the employer who will forward it under his seal; in about 45 days, you will get your balance into your bank account.
These forms are available with the employer or local PF office.
Dr. Appalayya (
From India, Hyderabad
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Hi,
Generally, PF withdrawal is not an issue except for the amount of time it takes if you have the required signatures. The timeframe is a minimum of 2 months before it gets credited to your bank account.
The procedure is simple: fill in Form 10C and Form 19, and send it to HR. They should even help you get it directly deposited into your local account. Also, there are no taxes for PF withdrawal after five years. If it's less than five years, then it depends on which tax bracket you are in, and hence, many people prefer getting their PF transferred, which again is a very time-consuming method.
The only way to reduce the time period is to go and meet the concerned official at the PF office and not just the clerks. Three visits should ensure that your job gets done on time.
You can find the forms at the following link: http://epfindia.nic.in <link updated to site home>
Hope the above suffices your requirements and queries.
Thanks & Regards,
AJ
From India, Thana
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Generally, PF withdrawal is not an issue except for the amount of time it takes if you have the required signatures. The timeframe is a minimum of 2 months before it gets credited to your bank account.
The procedure is simple: fill in Form 10C and Form 19, and send it to HR. They should even help you get it directly deposited into your local account. Also, there are no taxes for PF withdrawal after five years. If it's less than five years, then it depends on which tax bracket you are in, and hence, many people prefer getting their PF transferred, which again is a very time-consuming method.
The only way to reduce the time period is to go and meet the concerned official at the PF office and not just the clerks. Three visits should ensure that your job gets done on time.
You can find the forms at the following link: http://epfindia.nic.in <link updated to site home>
Hope the above suffices your requirements and queries.
Thanks & Regards,
AJ
From India, Thana
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Dear AJ, Please advice when we need to deposit the PF withdraw form, suppose the Expatriate leave the company on 1st June when he can apply for PF withdrawl, what the process Thanks
From India, New Delhi
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From India, New Delhi
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Hi,
It is advised to apply for the transfer of your old PF to a new PF Account by submitting Form 13, instead of applying for PF and Pension Contribution withdrawal by submitting Form 10c and Form 19.
Please note that if a person continues, it will add to the total experience for the purpose of pension. By withdrawing after leaving one establishment, we will lose the experience for the purpose of pension years, and the same amount may not be saved properly. If instead of withdrawal, if we transfer, we will gain experience for the pension, and also the lump sum amount may be utilized for acquiring assets.
Regards, PB Rama Swaroop
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It is advised to apply for the transfer of your old PF to a new PF Account by submitting Form 13, instead of applying for PF and Pension Contribution withdrawal by submitting Form 10c and Form 19.
Please note that if a person continues, it will add to the total experience for the purpose of pension. By withdrawing after leaving one establishment, we will lose the experience for the purpose of pension years, and the same amount may not be saved properly. If instead of withdrawal, if we transfer, we will gain experience for the pension, and also the lump sum amount may be utilized for acquiring assets.
Regards, PB Rama Swaroop
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PF Calculation Sheet To The Subscribers At the Time Of Provident Fund Withdrawal.pdf