Hi All,
I have got a concern that I would like to put before the forum for suitable suggestion.
An employee who was associated with some other company and had resigned from there. Although, he was the member of PF with the company but after resigning from there he did not close the account and hence his PF contribution is still lies with PF Deptt.
Now, after 8 months from resigning from the company, he joins a new organization, so here I seek your inputs for whether his earlier PF contribution will get transferred to the new PF A/c as nothing is contributed in it from last 8 months or he has to close that account and ask for withdrawal of PF fund.
Please suggest for the sake of my knowledge.
Thanks,
Piyush
From India, Varanasi
1I have got a concern that I would like to put before the forum for suitable suggestion.
An employee who was associated with some other company and had resigned from there. Although, he was the member of PF with the company but after resigning from there he did not close the account and hence his PF contribution is still lies with PF Deptt.
Now, after 8 months from resigning from the company, he joins a new organization, so here I seek your inputs for whether his earlier PF contribution will get transferred to the new PF A/c as nothing is contributed in it from last 8 months or he has to close that account and ask for withdrawal of PF fund.
Please suggest for the sake of my knowledge.
Thanks,
Piyush
From India, Varanasi
Hi, The PF amount still lying with PF Dept can be transfered to current PF account or it can be withdrawn also. Both the option are stil open. Regards, Harshad
From India, Mumbai
From India, Mumbai
dear legally if u will ask me he should get it transfer the PF amunt but he can also withdraw it also .both options are open. tks js malik
From India, Delhi
From India, Delhi
Dear Piyush,
You have both options are open. But I suggest to transfer your old account to New One. The advantage is that you will get continuous service and will enable you to get Pension benefits ( If you have 10 years of service, you will get eligibility for pension benefits)
Jishnu.V.Nair
Tax & EPF Consultant
Kerala
From India, Thiruvananthapuram
You have both options are open. But I suggest to transfer your old account to New One. The advantage is that you will get continuous service and will enable you to get Pension benefits ( If you have 10 years of service, you will get eligibility for pension benefits)
Jishnu.V.Nair
Tax & EPF Consultant
Kerala
From India, Thiruvananthapuram
Thank you very much...
Now, my another concern is that the earlier PF A/c was based at Hyderabad and now the present one will be based in Lucknow... So what are all the formalities one need to do as to get it transferred to the new A/c.. Please suggest.
From India, Varanasi
Now, my another concern is that the earlier PF A/c was based at Hyderabad and now the present one will be based in Lucknow... So what are all the formalities one need to do as to get it transferred to the new A/c.. Please suggest.
From India, Varanasi
Please get Form 13 filled by the employee and then forward the same to RPFC, Hyderabad through the present employeer so that the accumulations from old a/c( Hyderabad) can be got transfered to new account( Lucknow) .
Regards,
Sivadasan
From India, Udaipur
Regards,
Sivadasan
From India, Udaipur
Since, the pf is valued one for the presently employed in their future, he is to be advised to get the pf amount transferred.
Procedure to transfer the pf amount
step.1:You can collect Form 13 from your HR/Personnel department of your present employer (or)download withdrawal form in Form 13 from the website EPFO.
step2: you can fillup all the details about your pf account with previous employer, name & address of the previous employer and SIGN
STEP3: YOU HANDOVER THE FORM IN TRIPLICATE TO YOUR PRESENT EMPLOYER/HR DEPARTMENT OF PRESENT EMPLOYER
From India, Madras
Procedure to transfer the pf amount
step.1:You can collect Form 13 from your HR/Personnel department of your present employer (or)download withdrawal form in Form 13 from the website EPFO.
step2: you can fillup all the details about your pf account with previous employer, name & address of the previous employer and SIGN
STEP3: YOU HANDOVER THE FORM IN TRIPLICATE TO YOUR PRESENT EMPLOYER/HR DEPARTMENT OF PRESENT EMPLOYER
From India, Madras
Dear Mr. Malik,
I have been seeing your posts off late and had a query that I would like to request you to answer for me.
In case an employee leaves an organization, and he did not settle his account,i.e; he did not pay the notice period amount, then in that case can he get the PF forms cleared from the company.
If the company refuses to do so, then can the employee take some legal course of action or escalate it to the PF authorities?
Also, since the employee as worked there for 16 months, will he get the employer contribution too?
Kindly advice
Thanks
From India, Faridabad
I have been seeing your posts off late and had a query that I would like to request you to answer for me.
In case an employee leaves an organization, and he did not settle his account,i.e; he did not pay the notice period amount, then in that case can he get the PF forms cleared from the company.
If the company refuses to do so, then can the employee take some legal course of action or escalate it to the PF authorities?
Also, since the employee as worked there for 16 months, will he get the employer contribution too?
Kindly advice
Thanks
From India, Faridabad
Would also like to know whether the employee is paid interest even if he doesnt withdraws the PF after leaving the Job, :-?
From India, Mumbai
From India, Mumbai
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HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls