Hi,
I left my previous company in 2007 (worked there for 10 years) and didn't withdraw money or transfer my PF account yet. It has been almost 7 years now and just wondering if the money will be taken by the GOVT i.e. RBI. I checked the status online and it says the account is inoperative. Please let me know if there is a possibility for Govt to take that money. I would like to withdraw it now. TIA.
Rama
From India, Hyderabad
1I left my previous company in 2007 (worked there for 10 years) and didn't withdraw money or transfer my PF account yet. It has been almost 7 years now and just wondering if the money will be taken by the GOVT i.e. RBI. I checked the status online and it says the account is inoperative. Please let me know if there is a possibility for Govt to take that money. I would like to withdraw it now. TIA.
Rama
From India, Hyderabad
Dear Ram,
As i believe, Since more than 4yrs there is nothing any contribution is going in your PF account due to the same, you PF account is inactive, however its wonder that, its goes to RBI, who has given this information..? in my entire carrier, first time i listen about the RBI matter in PF.
As per my knowledge, as per recent amendment in rule of PF, if your account is not operated by more than 2yrs, then it will get inactive & it get stop calculating the interest on available PF account. you may get the interest till it was active.
& its definitely sure that, you can withdrawal your PF amount, you have to contact to your employer for the further process.
From India, Mumbai
As i believe, Since more than 4yrs there is nothing any contribution is going in your PF account due to the same, you PF account is inactive, however its wonder that, its goes to RBI, who has given this information..? in my entire carrier, first time i listen about the RBI matter in PF.
As per my knowledge, as per recent amendment in rule of PF, if your account is not operated by more than 2yrs, then it will get inactive & it get stop calculating the interest on available PF account. you may get the interest till it was active.
& its definitely sure that, you can withdrawal your PF amount, you have to contact to your employer for the further process.
From India, Mumbai
Let me make a correction. PF account will become inactive only if it remains inoperative for 36 months, not 2 years, and till 36 months (3 years) you will get interest also. But never it will become unclaimable one nor can it be attached by government, court or against any action by any recovery officer. Therefore, you may apply for withdrawal benefits and you will get it. However, since the amount has become inoperative for more than 7 years, you will have to personally visit the PF office and submit the requests and also do a regular follow up. But you will get the amount.
Madhu.T.K
From India, Kannur
Madhu.T.K
From India, Kannur
Sir,
Thanks a lot for your reply. One of my friends told me about this RBI stuff. However I also found this old news EPFO alerts staff over fraudulent PF withdrawal - NDTVProfit.com there was a scam through which money was withdrawn from inoperative accounts and I am worried a lot about my money now. I think the process to withdraw is to get the forms for the same from PF office (can I download them from EPF website), fill them and get them attested by previous employer and then submit it back in EPF office. Is that correct? how long will it take to get the money? Is there anyway to avoid going to PF office? can't I do all this online? Thanks in advance.
Rama
From India, Hyderabad
Thanks a lot for your reply. One of my friends told me about this RBI stuff. However I also found this old news EPFO alerts staff over fraudulent PF withdrawal - NDTVProfit.com there was a scam through which money was withdrawn from inoperative accounts and I am worried a lot about my money now. I think the process to withdraw is to get the forms for the same from PF office (can I download them from EPF website), fill them and get them attested by previous employer and then submit it back in EPF office. Is that correct? how long will it take to get the money? Is there anyway to avoid going to PF office? can't I do all this online? Thanks in advance.
Rama
From India, Hyderabad
You can download the forms (Form No 19 and form No 10C) from the website or take the printout of the attached forms. Online facility is not properly done and therefore, it is advisable to go there and get the things done. In your case the issue of account having been inoperative it is advisable to do it manually. It may take time depending upon the Office where the account is kept. Normally it should take only 45 days and as I know in Kerala the PF accounts are settled even in 30 days time and I heard that in Delhi, Maharshtra etc it will not get settled even in 6 montsh time!!
Madhu.T.K
From India, Kannur
Madhu.T.K
From India, Kannur
Mr.Krishna,
It is wonder that how you are keeping quite for over 7 years. During this period you have not employed any where or you do not want to continue your membership of EPFO. Now presently what you are doing whether you employed or not. If employed please apply for transfer of PF amount t to your existing company which you will be benefited on your retirement. You will get mon thly pension till your death and your spouse also get pension after your death. Think over to continue be a member of PF. If not employed and do not want to work any more then you go for with drawal. Provident Fund is yours and nobody will snatch from your account. Since it is is non operative , approach to your nearest PF office and apply for with drawl as advised by Mr.Madhu. I hope within a month time your account will be settled.
Adoni Suguresh
Sr.Executive (Pers, Admin & Ind.Rels) Rtd
Labour Laws Consultant .
From India, Bidar
It is wonder that how you are keeping quite for over 7 years. During this period you have not employed any where or you do not want to continue your membership of EPFO. Now presently what you are doing whether you employed or not. If employed please apply for transfer of PF amount t to your existing company which you will be benefited on your retirement. You will get mon thly pension till your death and your spouse also get pension after your death. Think over to continue be a member of PF. If not employed and do not want to work any more then you go for with drawal. Provident Fund is yours and nobody will snatch from your account. Since it is is non operative , approach to your nearest PF office and apply for with drawl as advised by Mr.Madhu. I hope within a month time your account will be settled.
Adoni Suguresh
Sr.Executive (Pers, Admin & Ind.Rels) Rtd
Labour Laws Consultant .
From India, Bidar
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PF - JT BK ACCOUNT ACCEPTABLE.pdf