Hi,
I have below doubt in filling Form 10 C.
i) in Point 5 it asked for below 3 things -
Region/SRO Code, Estt. Code No., A/c No... my PF number for example is - HR/12345/100 so i suppose the 3 fileds will be filed up as - Region/SRO Code = HR, Estt. Code No = 12345, A/c No = 100. Please confirm if i am right.
ii) Point 8 saya that - Are you willing to accept Sceme Certificate in lieu of withdrawal benefits . Yes/ No -- what does this mean. i want to get maximum withdrawal of money. so shd i write 'No' here?
Thanks in advance,
Samir
From Netherlands, Nieuwegein
I have below doubt in filling Form 10 C.
i) in Point 5 it asked for below 3 things -
Region/SRO Code, Estt. Code No., A/c No... my PF number for example is - HR/12345/100 so i suppose the 3 fileds will be filed up as - Region/SRO Code = HR, Estt. Code No = 12345, A/c No = 100. Please confirm if i am right.
ii) Point 8 saya that - Are you willing to accept Sceme Certificate in lieu of withdrawal benefits . Yes/ No -- what does this mean. i want to get maximum withdrawal of money. so shd i write 'No' here?
Thanks in advance,
Samir
From Netherlands, Nieuwegein
Samir, you are right, in the PF No, HR stands for Region Code (hope you are in Haryana), 12345 stands for establishment code and 100 stands for your account number.
Scheme certificate is a certificate issued by the Labour Ministry for the Employees Provident Fund Organisation certifying that the holder has worked in the establishment for the number of years mentioned therein and the named are the spouse and children of the holder who will be eligible to get pension in case of death of the holder before his attaining the age of 58. That is to say, if you have not put in 10 years of service (in fact 9 years and six months will make your service ten years) you can go for withdrawal benefit of the Pension Fund which is a fund formed by credit of employer's share of contribution of 8.33% of the salary. If you do not wish to withdraw it you can opt for the Scheme Certificate as explained above. In future if you join a company where PF is enforced you can surrender this certificate and by that your past service with the old company would be added to the current company service and the service so added will qualify for your future pension. If you have put in 10 years the question of opting out of scheme certificate will not arise but you have to go for scheme certificate. Therefore, if you wish to accumulate your present service for a future pension you can write " yes" and if you do not want to accumulate service but want the pension fund withdrawal now and at the same time you have not completed 9 years and six months then you can put "no" against question No. 8
Regards,
Madhu.T.K
From India, Kannur
4249Scheme certificate is a certificate issued by the Labour Ministry for the Employees Provident Fund Organisation certifying that the holder has worked in the establishment for the number of years mentioned therein and the named are the spouse and children of the holder who will be eligible to get pension in case of death of the holder before his attaining the age of 58. That is to say, if you have not put in 10 years of service (in fact 9 years and six months will make your service ten years) you can go for withdrawal benefit of the Pension Fund which is a fund formed by credit of employer's share of contribution of 8.33% of the salary. If you do not wish to withdraw it you can opt for the Scheme Certificate as explained above. In future if you join a company where PF is enforced you can surrender this certificate and by that your past service with the old company would be added to the current company service and the service so added will qualify for your future pension. If you have put in 10 years the question of opting out of scheme certificate will not arise but you have to go for scheme certificate. Therefore, if you wish to accumulate your present service for a future pension you can write " yes" and if you do not want to accumulate service but want the pension fund withdrawal now and at the same time you have not completed 9 years and six months then you can put "no" against question No. 8
Regards,
Madhu.T.K
From India, Kannur
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