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
From India, Bhubaneswar
Usually, when you change jobs, you dont have to withdraw; the PF account need not be changed or be emptied. Dont 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 dont 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
5If you dont 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
Hi,
Generally PF withdrawal is not an issue except for the amount of time it takes if you have the required signatures. The time frame is minimum of 2 months before it gets credited to your bank account.
The procedure is simple fill in form 10c and and form 19 and send it to HR. They should even help you get it direct deposit in to your local account. Also there are no taxes for PF withdrawal above five years also if its less than five years then it depends on which tax bracket you are in and hence a lot of people prefer getting their PF transfered which again is a very time consuming method.
The only way to reduce the time period is to go an meet the concerned official at the PF office and not just the clerks. Three visits should ensure than 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 requirement and queries.
Thanks & Regards,
AJ
From India, Thana
Generally PF withdrawal is not an issue except for the amount of time it takes if you have the required signatures. The time frame is minimum of 2 months before it gets credited to your bank account.
The procedure is simple fill in form 10c and and form 19 and send it to HR. They should even help you get it direct deposit in to your local account. Also there are no taxes for PF withdrawal above five years also if its less than five years then it depends on which tax bracket you are in and hence a lot of people prefer getting their PF transfered which again is a very time consuming method.
The only way to reduce the time period is to go an meet the concerned official at the PF office and not just the clerks. Three visits should ensure than 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 requirement and queries.
Thanks & Regards,
AJ
From India, Thana
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
From India, New Delhi
Hai
It is advised to apply for transfer of ur old PF to New PF Account by submitting Form 13, instead of applying for PF and Pension Contribution withdrawal by submitting Form 10c and Form 19.
Pl note that if a person who continues it will add total experience for the purpose of pension. By withdrawing after leaving one establishing, we will loss of 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 Pension and also the lumpsom amount may be utilised for acquiring for assets.
Regards
PB Rama Swaroop
It is advised to apply for transfer of ur old PF to New PF Account by submitting Form 13, instead of applying for PF and Pension Contribution withdrawal by submitting Form 10c and Form 19.
Pl note that if a person who continues it will add total experience for the purpose of pension. By withdrawing after leaving one establishing, we will loss of 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 Pension and also the lumpsom amount may be utilised for acquiring for assets.
Regards
PB Rama Swaroop
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