Dear Friends,
If an employee has worked for 2 years in the organization, can he withdraw employee provident fund and pension fund? If he can, what is the procedure for the withdrawal of the pension fund from the PF authorities?
1) If we want to take a scheme certificate, what benefits will we get?
2) If we don't want to take a scheme certificate, what will we get?
Kindly suggest...
From India, Hyderabad
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1If an employee has worked for 2 years in the organization, can he withdraw employee provident fund and pension fund? If he can, what is the procedure for the withdrawal of the pension fund from the PF authorities?
1) If we want to take a scheme certificate, what benefits will we get?
2) If we don't want to take a scheme certificate, what will we get?
Kindly suggest...
From India, Hyderabad
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Yes, he can withdraw his P.F. accumulations by using Form 19 & 10C, which can be downloaded from the EPFO website. According to the P.F. department, withdrawing P.F. money means the individual is not working anywhere in India. Generally, people join another company and simply apply for withdrawal by using the above forms.
If we join another company, as per P.F. norms, we have to transfer our P.F. accumulations to the current employer by using Form No. 13. Regarding certificates, we have to retain them until retirement from service. However, we can withdraw in the meantime also by giving a self-declaration stating that I am not working anywhere in India and I am in dire need of money, etc. After verification of our request by the P.F. department, we can receive the money.
From India, Hyderabad
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If we join another company, as per P.F. norms, we have to transfer our P.F. accumulations to the current employer by using Form No. 13. Regarding certificates, we have to retain them until retirement from service. However, we can withdraw in the meantime also by giving a self-declaration stating that I am not working anywhere in India and I am in dire need of money, etc. After verification of our request by the P.F. department, we can receive the money.
From India, Hyderabad
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An employee who has been with the company for more than 6 months can withdraw the amount. When it comes to withdrawal, fill out forms 10C and 19, get them authorized by your employer, and return them to the provident fund office. Meanwhile, they provide you with 45 to 60 days to withdraw the form if you are not interested. This benefit is provided by the government to support employees after their retirement. If you do not wish to withdraw the pension, obtain a scheme certificate from the PF department.
If you choose to withdraw the total amount, 8.33% accumulated will be returned from your PF fund, resulting in the total amount being in your hands.
From India, Hyderabad
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If you choose to withdraw the total amount, 8.33% accumulated will be returned from your PF fund, resulting in the total amount being in your hands.
From India, Hyderabad
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Is there any rule for withdrawl of total pension fund? like 10 yrs of service.....etc? or we can withdraw both pension and provident fund by submitting 19 & 10C(For 2 Yrs of service) pls suggest....
From India, Hyderabad
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From India, Hyderabad
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Dear Varam, Those who have completed 10 years or more in EPF/EPS are entitled to pension. Accordingly for them one time withdrawal is not possible. Abbas.P.S
From India, Bangalore
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From India, Bangalore
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He can withdraw his PF & pension fund accumulation. Scheme certificate is issued if service is more than 10 years.
From United States, Santa Clara
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From United States, Santa Clara
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Dear Varam, Either he can apply for withdrawal benefit or scheme certificate. There is no bar to apply for scheme certificate to those having a service of below 10years. Abbas
From India, Bangalore
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From India, Bangalore
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Hi,
I have applied to transfer my PF account. It has successfully transferred after 1 year of reminders to the PF office. However, there is nothing mentioned about the accumulations towards the pension scheme. How can I track it? Can we transfer that also?
From India
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I have applied to transfer my PF account. It has successfully transferred after 1 year of reminders to the PF office. However, there is nothing mentioned about the accumulations towards the pension scheme. How can I track it? Can we transfer that also?
From India
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Hi,
An employee worked in a company for only 5 months with PF number 475. According to the rule, if you have not completed 6 months or 180 days, you are eligible for a pension only, not for PF.
The same employee, A, has now rejoined (contract system company) with a new PF number 1091 and a total work duration of 9 months.
Now, what should be done to withdraw the total amount from both PF numbers? The employee is the same, but the PF number has changed.
Please provide information on this topic.
Thanks.
From India, Mumbai
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An employee worked in a company for only 5 months with PF number 475. According to the rule, if you have not completed 6 months or 180 days, you are eligible for a pension only, not for PF.
The same employee, A, has now rejoined (contract system company) with a new PF number 1091 and a total work duration of 9 months.
Now, what should be done to withdraw the total amount from both PF numbers? The employee is the same, but the PF number has changed.
Please provide information on this topic.
Thanks.
From India, Mumbai
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PF guidleines for Pension fund.pdf
Download-New-re vised-Form-10c- UAN-pension-fun d-withdrawal-pi c.jpg