Hello, I have a doubt regarding my PF withdrawal.
I worked in two organizations, and I left my last organization two months ago, and I do not have any near plan to work again. I'm willing to withdraw everything from my PF account, do I have to merge the two-member IDs? if yes then how as I left my organization already or I can withdraw with any issue as I completed 60 days.
From India, Hyderabad
I worked in two organizations, and I left my last organization two months ago, and I do not have any near plan to work again. I'm willing to withdraw everything from my PF account, do I have to merge the two-member IDs? if yes then how as I left my organization already or I can withdraw with any issue as I completed 60 days.
From India, Hyderabad
Dear Colleague,
As you are aware, despite your different PF Numbers, your UAN number will be same. Further under Provident Fund you are also member of Employees' Pension Scheme. Though you intent to close your PF for your personal reasons it is advisable to transfer the PF to your latest PF Account before you seek settlement. Otherwise you will loose your service continuity under Pension Scheme.
If you decided once far all as not going for employment and going to close PF, still it is suggested not to close Pension Account if you have completed 10 years of service.
In the event of last employment there is a waiting period to for settlement of PF which is 60days after which you may approach your last employer for PF settlement.
If you had rendered 10 years membership under Pension Scheme and on attaining 50 years you are eligible to get Reduced Pension and if you apply for pension at 58th year you will get Pension at a higher rate for which you must get Scheme Certificate under Pension Scheme depending on your age now. If you discuss with your HR they will guide you.
From India, Chennai
309As you are aware, despite your different PF Numbers, your UAN number will be same. Further under Provident Fund you are also member of Employees' Pension Scheme. Though you intent to close your PF for your personal reasons it is advisable to transfer the PF to your latest PF Account before you seek settlement. Otherwise you will loose your service continuity under Pension Scheme.
If you decided once far all as not going for employment and going to close PF, still it is suggested not to close Pension Account if you have completed 10 years of service.
In the event of last employment there is a waiting period to for settlement of PF which is 60days after which you may approach your last employer for PF settlement.
If you had rendered 10 years membership under Pension Scheme and on attaining 50 years you are eligible to get Reduced Pension and if you apply for pension at 58th year you will get Pension at a higher rate for which you must get Scheme Certificate under Pension Scheme depending on your age now. If you discuss with your HR they will guide you.
From India, Chennai
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PF AUTHORIZATION FOR WITHDRAW.JPG
When and How to Withdraw PF.doc