Hi, I have been working in Bangalore with a Company for 10 months now. I intend to leave the organisation in 2 months to pursue higher eduacation. Hence, I wish to withdraw amount in PF account. I will need it to fund my education. Kindly suggest me the procedure for the same.
Also, can I withdraw the amount now, and remainig two months later?
From India, Bangalore
Also, can I withdraw the amount now, and remainig two months later?
From India, Bangalore
Firstly, you can withdraw the amount only after you leave the job, not while you are still in service. After you leave the service you can apply for settlement of your EPF account through your employer (because they have to fill in the relevant portions, the authorised signatory has to sign it and they have to send it to the EPFO with all enclosure). The application will be sent to the EPF Office which maintains your EPF account. They will settle the account and directly credit the amount in your bank account. You cannot reasonably expect to have the cash in hand before, say 4 to 6 months from the date of your leaving the job. You can right now discuss with your employer so that they will expedite matters. In case your company is an exempted establishment under the EPFO, they will themselves be maintaining the EPF account. In that case the time taken for settlement may get reduced by about a month or so.
From India, Madras
112From India, Madras
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HR-balance scorecard.zip
Balance score card.pdf
PF Amount Balance Check.xls