I would like to know the amount which i received when i opt for withdrawal at the time of leaving job.
For example , i contribute Rs 2540 and employer contribue Rs 2540.
total contribution is Rs 5080. How much do i get at the settlement from PF office[/i]
From India, Bangalore
For example , i contribute Rs 2540 and employer contribue Rs 2540.
total contribution is Rs 5080. How much do i get at the settlement from PF office[/i]
From India, Bangalore
Dear Mani, When you withdraw it will be your contribution + employer contribution + interest. Regards Sathiya
From India, Madras
2From India, Madras
Dear Sathya,
I am aware of that I get both employer and employee contribution. But i understand that the authority will pay only the employer contribution of 12 % and 8.33% on employee contribution. Is that correct ? this is what i would like to know.
thanks
From India, Bangalore
I am aware of that I get both employer and employee contribution. But i understand that the authority will pay only the employer contribution of 12 % and 8.33% on employee contribution. Is that correct ? this is what i would like to know.
thanks
From India, Bangalore
A member of the provident fund can withdraw full amount at the credit in the fund on retirement from service after attaining the age of 55 year. Full amount in provident fund can also be withdraw by the member under the following circumstance:
A member who has not attained the age of 55 year at the time of termination of service.
A member is retired on account of permanent and total disablement due to bodily or mental infirmity.
On migration from India for permanent settlement abroad or for taking employment abroad.
In the case of mass or individual retrenchment.
B) In the case of the following contingencies, the payment of provident fund be made after complementing a continuous period of not less than two months immediately preceding the date on which the application for withdrawal is made by the member:
Where employees of close establishment are transferred to other establishment, which is not covered under the Act:
Where a member is discharged and is given retrenchment compensation under the Industrial Dispute Act, 1947.
Withdrawal before retirement:
A member can withdraw upto 90% of the amount of provident fund at credit after attaining the age of 54 years or within one year before actual retirement on superannuation whichever is later. Claim application in form 19 may be submitted to the concerned Provident Fund Office
Hope your doubt is clear now.
Please feel free to contact for any further clarification
Reagards
Shashi kant Upadhyay
From India, New Delhi
A member who has not attained the age of 55 year at the time of termination of service.
A member is retired on account of permanent and total disablement due to bodily or mental infirmity.
On migration from India for permanent settlement abroad or for taking employment abroad.
In the case of mass or individual retrenchment.
B) In the case of the following contingencies, the payment of provident fund be made after complementing a continuous period of not less than two months immediately preceding the date on which the application for withdrawal is made by the member:
Where employees of close establishment are transferred to other establishment, which is not covered under the Act:
Where a member is discharged and is given retrenchment compensation under the Industrial Dispute Act, 1947.
Withdrawal before retirement:
A member can withdraw upto 90% of the amount of provident fund at credit after attaining the age of 54 years or within one year before actual retirement on superannuation whichever is later. Claim application in form 19 may be submitted to the concerned Provident Fund Office
Hope your doubt is clear now.
Please feel free to contact for any further clarification
Reagards
Shashi kant Upadhyay
From India, New Delhi
Dear Manian,
Its the other way, the employee contribution (12%) will be paid in full to you and 3.67% of employer contribution will be paid, if your service is less than 6 months. If your service is more than 6 months you get the remaining 8.33%(EPS) with interest @ 8.5% for amount stand payable at the time of releasing the payment.
Hope i clarified your doubt.
Rgds,
Suresh Ramalingam
From India, Mumbai
Its the other way, the employee contribution (12%) will be paid in full to you and 3.67% of employer contribution will be paid, if your service is less than 6 months. If your service is more than 6 months you get the remaining 8.33%(EPS) with interest @ 8.5% for amount stand payable at the time of releasing the payment.
Hope i clarified your doubt.
Rgds,
Suresh Ramalingam
From India, Mumbai
An employee can get full withdrawal provided he has less than 10 years of service. Whereas, if he has more than 10 years of service, his pension fund (ie, Employer's contribution limited to 8.33%) will be paid only as pension. He can draw the Provident fund amount (ie, his share of 12% + employer's share 3.67%)
Madhu.T.K
From India, Kannur
Madhu.T.K
From India, Kannur
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