My name is Estakee Baretto and I am from Pune and have a bit confusing query for you and hope you will have an answer for it.
I am working in an international BPO in Pune. 9 years back (2004) I was employed by ABC company and after 5 years this company got merged into another company called XYZ. In ABC I had a PF account from Pune circle. Now in XYZ also I am having a PF account from Thane circle. The account from ABC was not transfered to XYZ account nor it was closed. Now the problem is as per the new gazette we will not be receiving the interest for the dormant period on ABC account.
When queired, the hr says that they are in the process of transfering the old PF into the new, which I think is not real. They also say that we cannot encash the account as our employment is not terminated.
Can you please put some light on this issue and make me understand whether we will be getting our interest for the dormant peroiod? We are sure we are going to receive our principle amount of ABC account. Only problem is with the interest.
Your ansswer will be highly appreciated
From India, Pune
I am working in an international BPO in Pune. 9 years back (2004) I was employed by ABC company and after 5 years this company got merged into another company called XYZ. In ABC I had a PF account from Pune circle. Now in XYZ also I am having a PF account from Thane circle. The account from ABC was not transfered to XYZ account nor it was closed. Now the problem is as per the new gazette we will not be receiving the interest for the dormant period on ABC account.
When queired, the hr says that they are in the process of transfering the old PF into the new, which I think is not real. They also say that we cannot encash the account as our employment is not terminated.
Can you please put some light on this issue and make me understand whether we will be getting our interest for the dormant peroiod? We are sure we are going to receive our principle amount of ABC account. Only problem is with the interest.
Your ansswer will be highly appreciated
From India, Pune
Dear estakee
did u clear ur notice period in previous co. if so, then do claim it should be clear otherwise first get clearance from previous co. and do query with pf department. Please note after two years of pf breaking there will no interest be incurred.
regards
uday
From India, Faridabad
19did u clear ur notice period in previous co. if so, then do claim it should be clear otherwise first get clearance from previous co. and do query with pf department. Please note after two years of pf breaking there will no interest be incurred.
regards
uday
From India, Faridabad
Well I don't know about principal amount and interest. However sine ABC is merged with XYZ there can be two options:
1. They are really transferring accounts from ABC to XYZ
2. Since the name has changed your HR can let you fill up the PF form for ABC company and you can go ahead with it.
However it really depends on company also, how they are taking it.
Hope it helps.
Regards,
Monica
From India, Pune
1. They are really transferring accounts from ABC to XYZ
2. Since the name has changed your HR can let you fill up the PF form for ABC company and you can go ahead with it.
However it really depends on company also, how they are taking it.
Hope it helps.
Regards,
Monica
From India, Pune
There is a transfer form available with the PF deoartment . After taking it from the PF department , fill it , if necessary with the help of your local HR person and after getting the it signed by the authorised signatory (PF) of your current organization along with the organization stamp and submit it to the PF department .
Your problem will be solved .
Srinivas
From India, Hyderabad
Your problem will be solved .
Srinivas
From India, Hyderabad
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PF Accounts Details.pdf
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