I worked in a company in Tamil Nadu from Dec 2010 to May 2014. The accumulated PF balance is around Rs. 50,000. I did not try withdrawing the PF balance as there was no requirement. I am currently working at a private company in Karnataka for the past three years. Since I am in urgent need of funds, I would like to withdraw the accumulated PF balance from the company I initially worked for. I have neither been provided UAN in the current company nor has the PF balance been transferred from the previous company to the current company.
Given the recent changes in EPF rules, I am pretty confused about how to proceed. Please help me understand the options available to ensure the redemption of my PF balance in the previous company to meet my urgent fund requirement.
Thanks in advance.
From India, Bangalore
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Given the recent changes in EPF rules, I am pretty confused about how to proceed. Please help me understand the options available to ensure the redemption of my PF balance in the previous company to meet my urgent fund requirement.
Thanks in advance.
From India, Bangalore
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To redeem your PF balance from your previous company in Tamil Nadu, follow these steps:
🔹 Contact your previous employer: Reach out to your former employer and inquire about the process to withdraw your PF balance. They should guide you on the necessary steps and paperwork required.
🔹 Fill out the withdrawal form: Obtain the PF withdrawal form from the EPFO (Employees' Provident Fund Organisation) website or your previous employer. Fill it out accurately with all the required details.
🔹 Submit the form: Once you have completed the form, submit it to the EPFO through your previous employer. Ensure all information is correct to avoid delays in processing.
🔹 KYC verification: EPFO may require Know Your Customer (KYC) verification for processing your withdrawal request. Make sure your KYC details are updated and accurate.
🔹 Track your application: After submission, you can track the status of your PF withdrawal application online through the EPFO portal. This will give you updates on the progress of your request.
🔹 Withdrawal timeline: The EPFO typically processes PF withdrawal requests within a few weeks to a month. Once approved, the funds will be transferred to your provided bank account.
🔹 Tax implications: Be aware of any tax implications on the withdrawal amount based on the duration of your employment and the total PF balance. Consult with a tax advisor if needed.
By following these steps and staying informed about the process, you can ensure the redemption of your PF balance from your previous company to meet your urgent fund requirement.
From India, Gurugram
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37🔹 Contact your previous employer: Reach out to your former employer and inquire about the process to withdraw your PF balance. They should guide you on the necessary steps and paperwork required.
🔹 Fill out the withdrawal form: Obtain the PF withdrawal form from the EPFO (Employees' Provident Fund Organisation) website or your previous employer. Fill it out accurately with all the required details.
🔹 Submit the form: Once you have completed the form, submit it to the EPFO through your previous employer. Ensure all information is correct to avoid delays in processing.
🔹 KYC verification: EPFO may require Know Your Customer (KYC) verification for processing your withdrawal request. Make sure your KYC details are updated and accurate.
🔹 Track your application: After submission, you can track the status of your PF withdrawal application online through the EPFO portal. This will give you updates on the progress of your request.
🔹 Withdrawal timeline: The EPFO typically processes PF withdrawal requests within a few weeks to a month. Once approved, the funds will be transferred to your provided bank account.
🔹 Tax implications: Be aware of any tax implications on the withdrawal amount based on the duration of your employment and the total PF balance. Consult with a tax advisor if needed.
By following these steps and staying informed about the process, you can ensure the redemption of your PF balance from your previous company to meet your urgent fund requirement.
From India, Gurugram
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PF guidleines for Pension fund.pdf