Dear all, first of all a great Diwali wishes to you all and happy knowledge sharing.
I would like to know from the experts that whether PF can be transfered from RPFC to Trust.
I am confused,because my PF was with RPFC in my last employer and recently Joined a company where my PF is with Trust.My present employer is saying that PF cannot be transfered from RPFC to Trust wheras my last employer agrees that it can be transfer.
Can anyone help me out with the provisions/rules/section.
Thanks in advance.
R'gds
Amrita/Sachin lala
CA/HR-Comp&Ben
From India, Dhanbad
I would like to know from the experts that whether PF can be transfered from RPFC to Trust.
I am confused,because my PF was with RPFC in my last employer and recently Joined a company where my PF is with Trust.My present employer is saying that PF cannot be transfered from RPFC to Trust wheras my last employer agrees that it can be transfer.
Can anyone help me out with the provisions/rules/section.
Thanks in advance.
R'gds
Amrita/Sachin lala
CA/HR-Comp&Ben
From India, Dhanbad
Dear Amritha,
I cleared the above matter from the Office of Regional PF Commissioner, Kozhikode. If the pension scheme is directly under EPF, the PF amount can be transferred fom RPFC to exempted Trust.
As per the provisions of EPS-95, those provide better benefits will be exempted from EPS. Accordingly along with the exempted Trust, if your present employer provided to have an exempted pension scheme; the above transfer is not possible.
However you may clarify/confirm this from your concerned Regional PF Office.
Abbas.P.S
From India, Bangalore
517I cleared the above matter from the Office of Regional PF Commissioner, Kozhikode. If the pension scheme is directly under EPF, the PF amount can be transferred fom RPFC to exempted Trust.
As per the provisions of EPS-95, those provide better benefits will be exempted from EPS. Accordingly along with the exempted Trust, if your present employer provided to have an exempted pension scheme; the above transfer is not possible.
However you may clarify/confirm this from your concerned Regional PF Office.
Abbas.P.S
From India, Bangalore
Dear friends,
If we keep on transfering PF to our new employers [if we change jobs] and if the continuity of PF contribution is 5 yrs,we are elligible for loans.
Apart from this is their any benefits in transfering PF.
or withdrawl is better??
My Last organisation PF was with RPFC[4 yrs] and now am in Trust[2 month],Concerned person dealing with PF here in my current org. says that RPFC to trust,we cannot transfer the PF,get it withdrawn.
I am confused,whether to transfer or withdraw,if i want to go for transfer,how to proceed and if there is withdrawl,will I get the pension amount also....
which is better PF transfer or PF withdrawl......
r'gds
Amrita Mishra
From India, Dhanbad
If we keep on transfering PF to our new employers [if we change jobs] and if the continuity of PF contribution is 5 yrs,we are elligible for loans.
Apart from this is their any benefits in transfering PF.
or withdrawl is better??
My Last organisation PF was with RPFC[4 yrs] and now am in Trust[2 month],Concerned person dealing with PF here in my current org. says that RPFC to trust,we cannot transfer the PF,get it withdrawn.
I am confused,whether to transfer or withdraw,if i want to go for transfer,how to proceed and if there is withdrawl,will I get the pension amount also....
which is better PF transfer or PF withdrawl......
r'gds
Amrita Mishra
From India, Dhanbad
Dear Amrita Mishra,
If pension fund is under RPFC, then transfer of PF amount from RPFC to exempted PF Trust and vise-versa is possible.
If the employer provide better pension benefits, such organisations may be exempted from EPS. If you are under so called exempted pension scheme, transfer as above is not possible.
Kindly ask your concerned personnel to contact the RPFC, in this regard.
Abbas.P.S
If pension fund is under RPFC, then transfer of PF amount from RPFC to exempted PF Trust and vise-versa is possible.
If the employer provide better pension benefits, such organisations may be exempted from EPS. If you are under so called exempted pension scheme, transfer as above is not possible.
Kindly ask your concerned personnel to contact the RPFC, in this regard.
Abbas.P.S