Hello All,
I have been working since last 8 years and have changed quite a few jobs. I have always withdrawn my PF from the organisations I have left.
However, I have a query. Recently I quit my job after working there over for 3 years. I have couple of specific questions.
1) How is the of the employer's contribution distributed between the PF account and the Pension account (the % between the 2)
2) If I fill up the withdrawal form, will I get the entire pension amount which is i my a/c.
3) Which option works better.. Withdrawal or Transfer of PF.
Hope to receive a response soon.
Regards,
Nikunj Devani
From India, Mumbai
I have been working since last 8 years and have changed quite a few jobs. I have always withdrawn my PF from the organisations I have left.
However, I have a query. Recently I quit my job after working there over for 3 years. I have couple of specific questions.
1) How is the of the employer's contribution distributed between the PF account and the Pension account (the % between the 2)
2) If I fill up the withdrawal form, will I get the entire pension amount which is i my a/c.
3) Which option works better.. Withdrawal or Transfer of PF.
Hope to receive a response soon.
Regards,
Nikunj Devani
From India, Mumbai
Greeting
1.regarding employer contribution it is the same amount which is deducted from your wages but from employer side the 8.33% amount deposit into pension fund and remain 3.67% amount deposited into PF account.
2.yes you are entitled to to get entire pension amount.
3. tis totally depend upon you if you need money then withdraw otherwise transfar because u get rate of interest over it.
Regard
Surender
From India, Delhi
1.regarding employer contribution it is the same amount which is deducted from your wages but from employer side the 8.33% amount deposit into pension fund and remain 3.67% amount deposited into PF account.
2.yes you are entitled to to get entire pension amount.
3. tis totally depend upon you if you need money then withdraw otherwise transfar because u get rate of interest over it.
Regard
Surender
From India, Delhi
Dear Nikunj Devani,
If you want monthly pension, you may apply for transfer / scheme certificate on previous services which can be added to later services. If you want one time withdrawal, it will be better to apply immediately. Because PF authorites are not providing interest on withdrawal benefit.
Abbas.P.S
From India, Bangalore
517If you want monthly pension, you may apply for transfer / scheme certificate on previous services which can be added to later services. If you want one time withdrawal, it will be better to apply immediately. Because PF authorites are not providing interest on withdrawal benefit.
Abbas.P.S
From India, Bangalore
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Early PF withdrawal won’t be easy.pdf
Guide Lines for PF Withdrawal.doc