Why posting the date of exit in PF is important. If there is no date of exit would my entry in a company stop?
From India, Jaipur
From India, Jaipur
It is important to mark exit date both for the company/ employer and the employee. Failure to mark exit of a left employee in the PF portal will make the employee still in the service of the company. The EPFO can demand contribution and you are answerable to that. Obviously, at that point of time, you might say that he (the employee) left service long before or since the contribution ceased to make. Then why don't you wait for that demand notice from the EPFO to come? Couldn't you do it as soon as the employee had left?
For the employee getting the exit date marked is important because in the absence of it he will not be able to transfer the PF accumulations to the new account with the new employer or withdraw the PF accumulations. This is because, as per the system he would be deemed to be employed (in the previous company) and while in service you cannot withdraw your PF accumulations.
From India, Kannur
4248For the employee getting the exit date marked is important because in the absence of it he will not be able to transfer the PF accumulations to the new account with the new employer or withdraw the PF accumulations. This is because, as per the system he would be deemed to be employed (in the previous company) and while in service you cannot withdraw your PF accumulations.
From India, Kannur
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