Hi Saswat,
Thank you for sharing this information. However at my previous company, our head office has been following the same norms for PF. Im sure what you have said would be right, but still will try to get the confirmation from my end, coz if you are right, then my previous company is definitely following something wrong.
Besides, do you have any instances where in any employee has tried withdrawing after 3 years, and was successful in getting it. Please do help me with it.
Kindly do not get me wrong, Im asking for the same so that it can help deepen my knowledge about PF.
From India, Pune
56Thank you for sharing this information. However at my previous company, our head office has been following the same norms for PF. Im sure what you have said would be right, but still will try to get the confirmation from my end, coz if you are right, then my previous company is definitely following something wrong.
Besides, do you have any instances where in any employee has tried withdrawing after 3 years, and was successful in getting it. Please do help me with it.
Kindly do not get me wrong, Im asking for the same so that it can help deepen my knowledge about PF.
From India, Pune
I think there are lots of discussion on the same topic.
Please have a look at the previous ones through the research button.
I have just checked with a client whose factory I am sitting in today for audit.
He confirmed that he has many cases where the person got his PF after applying more than 4 years after leaving.
From India, Mumbai
Please have a look at the previous ones through the research button.
I have just checked with a client whose factory I am sitting in today for audit.
He confirmed that he has many cases where the person got his PF after applying more than 4 years after leaving.
From India, Mumbai
Hi Meenu,
As i understand from your query that, after giving a his resignation, he worked 25 days during the same month and after he after getting salary for the month he stoped coming office without getting Service & Experience Certificate. now he is approaching to withdraw PF is so?.
This type of cases are now very common in lower level, my advice is please ask him to settle all the dues if he have any. then relieve him and close the chapter.before relieving him please advice him what he did and not to do again at any where.
Vijay
From India, Madras
As i understand from your query that, after giving a his resignation, he worked 25 days during the same month and after he after getting salary for the month he stoped coming office without getting Service & Experience Certificate. now he is approaching to withdraw PF is so?.
This type of cases are now very common in lower level, my advice is please ask him to settle all the dues if he have any. then relieve him and close the chapter.before relieving him please advice him what he did and not to do again at any where.
Vijay
From India, Madras
As much as I hate such people and would live to see them denied the money, as per law, you have no option but to sign the PF form and give it. As per law a person's PF account can not be held back or set off / adjusted against ANY dues.
But nothing requires you to make it easier for him
So by all means send a letter reminding him of his dues and handover, etc.
Ask him to pay the dues immediately. But don't specifically threaten to hold back PF or to process it only after that.
In the end, he can get the money without your PF form also. There are methods introduced for that.
If he sends the form officially by registered post then you can be hauled up by PF department for not signing the firm and you should have a good defendable excuse handy
From India, Mumbai
But nothing requires you to make it easier for him
So by all means send a letter reminding him of his dues and handover, etc.
Ask him to pay the dues immediately. But don't specifically threaten to hold back PF or to process it only after that.
In the end, he can get the money without your PF form also. There are methods introduced for that.
If he sends the form officially by registered post then you can be hauled up by PF department for not signing the firm and you should have a good defendable excuse handy
From India, Mumbai
There is no time limit for withdrawing the PF amount.
In fact many employees keep it lying there, as it attracted more interest than any bank deposit (interest accrual has been discontinued now).
Moreover, it is the Most Secure form of financial holding. It can not even be attached by any Court.
This is what makes PF very very special - it provides for future events and calamities. In Hindi it is called Bhavishya Nidhi - funds for future requirements / exigencies.
All HRs must make themselves aware of these features of PF.
Warm regards.
From India, Delhi
In fact many employees keep it lying there, as it attracted more interest than any bank deposit (interest accrual has been discontinued now).
Moreover, it is the Most Secure form of financial holding. It can not even be attached by any Court.
This is what makes PF very very special - it provides for future events and calamities. In Hindi it is called Bhavishya Nidhi - funds for future requirements / exigencies.
All HRs must make themselves aware of these features of PF.
Warm regards.
From India, Delhi
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