Dear Community,
I have a situation where I worked for two companies. 1st company (April 14 to May 18) 4.1 years and 2nd company (May 18 to Feb 19) 9 months hence my total service as an employee is 4.10 years. Now I dont contribute to the EPFO and working as a freelancer. I have query regarding my PF, lets say for a time being i am not contributing to the EPFO and also dont wish to withdraw the amount now, as I expect to join new company 6 months later (by Aug 19). So If I join a company again in Aug'19 and start contributing to the EPFO will my EPFO duration be continued with previous total of 4.10 years? If not, do I only left with choice of withdrawal with 10% TDS before 5 yrs of service.
EPS: Also please suggest what will happen to my EPS in same scenario. what i need to do.
Please note my PF amount is more than 50000 & my recent company was having PF trust.
Thank you for your help.
I have a situation where I worked for two companies. 1st company (April 14 to May 18) 4.1 years and 2nd company (May 18 to Feb 19) 9 months hence my total service as an employee is 4.10 years. Now I dont contribute to the EPFO and working as a freelancer. I have query regarding my PF, lets say for a time being i am not contributing to the EPFO and also dont wish to withdraw the amount now, as I expect to join new company 6 months later (by Aug 19). So If I join a company again in Aug'19 and start contributing to the EPFO will my EPFO duration be continued with previous total of 4.10 years? If not, do I only left with choice of withdrawal with 10% TDS before 5 yrs of service.
EPS: Also please suggest what will happen to my EPS in same scenario. what i need to do.
Please note my PF amount is more than 50000 & my recent company was having PF trust.
Thank you for your help.
Dear Friend,
Two company's with different employment duration will consider break in employment not considered as continuation and same condition apply for EPS also.
You may withdrawal your EPF either you may transfer but as you said your recent company is under trust, so transferring of EPF may cause difficulties.
From India, Mumbai
427Two company's with different employment duration will consider break in employment not considered as continuation and same condition apply for EPS also.
You may withdrawal your EPF either you may transfer but as you said your recent company is under trust, so transferring of EPF may cause difficulties.
From India, Mumbai
Dear Ravi,
I have already transferred the PF amount from 1st company to 2nd company. After accumulating both the companies service it comes to 4.10 years of continue service. Yes my second company is trust but I dont see any issues in withdrawal process. The query is, if I dont withdraw and join 3rd company after six month or more of no contrubution to EPFO then in such case will my service for 3rd company added to continuation of previous 4.10 years or not. I hope I have clarified. Please mention if anything not clear I'll try to elaborate wherever possible.
I have already transferred the PF amount from 1st company to 2nd company. After accumulating both the companies service it comes to 4.10 years of continue service. Yes my second company is trust but I dont see any issues in withdrawal process. The query is, if I dont withdraw and join 3rd company after six month or more of no contrubution to EPFO then in such case will my service for 3rd company added to continuation of previous 4.10 years or not. I hope I have clarified. Please mention if anything not clear I'll try to elaborate wherever possible.
Hi,
Yes it will be considered as continuity of service provided if you use the same UAN number for the third company also which was used in past two companies. If you are using same UAN number you can transfer your PF by yourself in your UAN login. Only thing is that you need to submit your old UAN and request to continue under same UAN.
From India, Madras
Yes it will be considered as continuity of service provided if you use the same UAN number for the third company also which was used in past two companies. If you are using same UAN number you can transfer your PF by yourself in your UAN login. Only thing is that you need to submit your old UAN and request to continue under same UAN.
From India, Madras
EPF ( a/c 01) can be claimed with certain conditions, but EPS can not be unless the employee atains the age of 58+
exemption is leaving india permanently / death
additional exemption for female employee is "marriage" and their undertaking "not to work in future"
steps has been implemented to avoid duplication of UAN and to stop generation of short term contribution accounts , aadhar verified UAN is the only account which would continue for the whole tenure of employment of employee.
Get your UAN KYC compliant 1st, then you would be position to avail the benefits
exemption is leaving india permanently / death
additional exemption for female employee is "marriage" and their undertaking "not to work in future"
steps has been implemented to avoid duplication of UAN and to stop generation of short term contribution accounts , aadhar verified UAN is the only account which would continue for the whole tenure of employment of employee.
Get your UAN KYC compliant 1st, then you would be position to avail the benefits
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EPF Calculation for entire service.xls
Weightage of 2 years in pensionable service 8.5.2017.pdf