As HR Managers / executives do not encourage such withdrawls of PF. or re-instatement of the employees after submission of their resignation
From India, Madras
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From India, Madras
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Hi,
This is very common in industries, particularly in the worker category. The only thing HR can do is guide them for the future benefits of PF. Additionally, the top management should help in employee welfare, which HR should propose to the management with proper documentation.
In a scenario where an employee resigns but is working unregistered in your organization, there is a significant risk involved. To mitigate this risk, it is essential to maintain fair HR practices, educate both employees and employers with supporting documents on the benefits and welfare of PF. If the financial aspect is a concern, the employer can offer assistance.
Regards,
Vihangakash Bhatt
From India, Delhi
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1This is very common in industries, particularly in the worker category. The only thing HR can do is guide them for the future benefits of PF. Additionally, the top management should help in employee welfare, which HR should propose to the management with proper documentation.
In a scenario where an employee resigns but is working unregistered in your organization, there is a significant risk involved. To mitigate this risk, it is essential to maintain fair HR practices, educate both employees and employers with supporting documents on the benefits and welfare of PF. If the financial aspect is a concern, the employer can offer assistance.
Regards,
Vihangakash Bhatt
From India, Delhi
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Dear,
Unknown employees are withdrawing their EPF and EPS amounts, but they are lapsing their period of working for 4 1/2 years for EPS. Kindly guide them that in this case, if they want to withdraw their EPF (Form 19), they can do so, but they cannot withdraw Form 10C (EPS).
Thank you.
From India, Bhubaneswar
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Unknown employees are withdrawing their EPF and EPS amounts, but they are lapsing their period of working for 4 1/2 years for EPS. Kindly guide them that in this case, if they want to withdraw their EPF (Form 19), they can do so, but they cannot withdraw Form 10C (EPS).
Thank you.
From India, Bhubaneswar
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PF can be withdrawn by an employee when any event occurs, as mentioned in the attached list, OR when the employee becomes unemployed for 60 days (2 months) after resigning (on the last day of the job). However, if an employee is attempting to withdraw PF with the intention to encash PF/PS amount, it is not allowed.
From India, Pune
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From India, Pune
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Hi,
This practice is normally adopted by the consent of the employees and employer, which is incorrect and unlawful in regard to the EPF Act. One can withdraw the PF accumulation after retirement or when unemployed at least two months after quitting the job. For advances from PF withdrawal allowed before 5 years of contributing to the PF accumulation, only medical treatment for self, spouse, parents, or children is permissible.
From India, Jhajjar
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This practice is normally adopted by the consent of the employees and employer, which is incorrect and unlawful in regard to the EPF Act. One can withdraw the PF accumulation after retirement or when unemployed at least two months after quitting the job. For advances from PF withdrawal allowed before 5 years of contributing to the PF accumulation, only medical treatment for self, spouse, parents, or children is permissible.
From India, Jhajjar
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i don’t think this is a valid reason for resignation and one should not encourage this. he should have discussed his financial difficulties with the responsible person of the company.
From India, Kottayam
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From India, Kottayam
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Hello sir, I am Shital. I worked in a pharmaceutical company for over a year. Due to personal problems, I left my job almost 10 months ago with a one-day relieving period. Even though 10 months have passed, the HR Manager has not released my EPF amount. Could you please advise me on what steps I should take?
From India, Pune
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From India, Pune
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Dear Sir,
This type of problem commonly arises among middle-class families and small employees because they require money constantly to support their families. If the government changes the rules for PF withdrawals, such as requiring individuals to work for 5 years to be eligible for a loan, those with less than five years of service may face challenges in managing their finances. They may have plans that exceed their financial capacity. In such a scenario, what options will they have?
I may not be very experienced in this matter, but I urge you to consider this issue.
Regards,
Chandu
From India,
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This type of problem commonly arises among middle-class families and small employees because they require money constantly to support their families. If the government changes the rules for PF withdrawals, such as requiring individuals to work for 5 years to be eligible for a loan, those with less than five years of service may face challenges in managing their finances. They may have plans that exceed their financial capacity. In such a scenario, what options will they have?
I may not be very experienced in this matter, but I urge you to consider this issue.
Regards,
Chandu
From India,
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Good welfare policies and awareness are required to be imparted to employees on PF withdrawal issues. Benevolent funds or other resources, if available, can be opted to help employees. This will not only boost the morale of employees but also instill pride in workplaces, encouraging growth in productivity.
From India, Vadodara
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From India, Vadodara
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Hi Shital,
First of all, no person other than the PF authority is authorized to reject your PF withdrawal. As far as I know, if the HR person in your previous organization is not ready to release your PF amount, you have an option to fill out Form 10C and Form 19 and get them signed by any Gazetted Officer. Then, submit them to the PF office. This may help you out. Seniors, please correct me if I am wrong.
Regards, Harsh
From India, Ahmadabad
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First of all, no person other than the PF authority is authorized to reject your PF withdrawal. As far as I know, if the HR person in your previous organization is not ready to release your PF amount, you have an option to fill out Form 10C and Form 19 and get them signed by any Gazetted Officer. Then, submit them to the PF office. This may help you out. Seniors, please correct me if I am wrong.
Regards, Harsh
From India, Ahmadabad
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(Fact Checked)-PF can be withdrawn by an employee in certain circumstances like unemployment for 60 days after resigning. Intentionally encashing PF is not allowed. (1 Acknowledge point)