The 8.33% component of PF is also called pension contribution. It comes from employer's pool of 12%. Since it is intended to be an instrument of social security, it is this element which gives you pension at the time of reirment or to family in the event of death of a member.
In case a member leaves service with less than 6 months of service, this amount is forfeited. However, its equivalent can be encashed after resignation if service is more than 6 months but less than 9 years 6 months. In case of service of more than 9 years 6 months which is rounded off to 10 years, you become eligible for pension. In this case, 8.33% component is not encashable. You get in the form of pension on completion of 58 years of age.
From India, Jalandhar
In case a member leaves service with less than 6 months of service, this amount is forfeited. However, its equivalent can be encashed after resignation if service is more than 6 months but less than 9 years 6 months. In case of service of more than 9 years 6 months which is rounded off to 10 years, you become eligible for pension. In this case, 8.33% component is not encashable. You get in the form of pension on completion of 58 years of age.
From India, Jalandhar
Hi,
You can withdraw the fund anytime after two months of non - contribution period, all you need to do is, just walk to you ex employer's HR/Finance department and provide the PF PS withdrawal form (form 10C and 19) with two revenue stamps (re.1). Then you will be getting the form back (duly attested and completed by the employer) with the form 3A (in case resigned in current financial year). In case you not withdrawing immediately after resigning, you can speak to the HR department later.
You can withdraw anytime after two months of non - contribution period even if you don't withdraw for 5 - 6 years. In that case, you will be getting interest @ 8.5% p.a. from the employee provident fund office on the Provident Fund.
P.S. However I confirmed the same with the policies but in case anything is not correct or upto the date, please let me know about the same.
From India, New Delhi
You can withdraw the fund anytime after two months of non - contribution period, all you need to do is, just walk to you ex employer's HR/Finance department and provide the PF PS withdrawal form (form 10C and 19) with two revenue stamps (re.1). Then you will be getting the form back (duly attested and completed by the employer) with the form 3A (in case resigned in current financial year). In case you not withdrawing immediately after resigning, you can speak to the HR department later.
You can withdraw anytime after two months of non - contribution period even if you don't withdraw for 5 - 6 years. In that case, you will be getting interest @ 8.5% p.a. from the employee provident fund office on the Provident Fund.
P.S. However I confirmed the same with the policies but in case anything is not correct or upto the date, please let me know about the same.
From India, New Delhi
So in other words say for instance a person chooses to leave his job after a year and a half. He in such case should be able to withdraw his contribution + his employer's contribution towards P.F. if I'm right. Now my question is what if he chooses to continue the account and transfer it when he joins another company?
From India, Bangalore
From India, Bangalore
Yes He Will get the PF 8.33% Part . Incase of Duration of Service Less than 6 mths in that case only he will not get this 8.33% Share money Narendra Prasad
From India, Lucknow
1From India, Lucknow
My advise is to continue the same even if you join in another organisation instead of withdrawing the amount. Continuity is permissibile by making a simple application with some documents about your relieve and joining of new employer.
From India, Madras
From India, Madras
Out of employer contribution, to the extent of 8.33% goes towards pension fund and to this further 1.17% is added by GOVT. OF INDIA. In case employee has contributed for more than six months, but less than 10 years and he/she is jobless, then becomes eligible to claim either withdrawal benefit or go for a scheme certificate. Scheme certifucate so obtained can be surrendered after joining some where again in a job so that contribution towards pension under same a/c continues and the pension after retirement would be attractive. After attaining 50th year of age, if employee quits, he/she who quits can apply for reduced pension by submitting Form 10D. However, it is always advisable to get scheme certificate instead of withdrawing enabling yourself to claim pension after 10 years of even interrupted services. In case contribution to pension fund is not withdrawn, in case of unfortunate event (death) , widow of the diseased and children will be entitle for pension.
- Kashinatham Chitturi
From India, Hyderabad
- Kashinatham Chitturi
From India, Hyderabad
Yes Mr.atul_kudhuliya is right. you can withdraw 8.33 % if you are complete 6 month contribution period . fill form no. 10-C(Employees' Pension Scheme). Amit Insha
From India, Delhi
From India, Delhi
Hai Mr. Venkateswara Rao,
as per you're query that is you want to withdraw only epf account but not eps account?. yes you can withdraw only epf account by submitting form 19 and for eps account (ie. 8.33%) you may continue or transfer this amount to present working organisation. as you may get scheme certificate from concern regional provident fund officer.
From India, Hyderabad
as per you're query that is you want to withdraw only epf account but not eps account?. yes you can withdraw only epf account by submitting form 19 and for eps account (ie. 8.33%) you may continue or transfer this amount to present working organisation. as you may get scheme certificate from concern regional provident fund officer.
From India, Hyderabad
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Employer-employ ee_866.jpg
Employer-PF-res trict to wages of Rs 6500.pdf