I have one question. If anybody has applied for PF. He has taken PF last one year. Now he want to quit from PF facility. Can he do so. Or after resigning only in the same company he can quit the PF.
From India, Pune
10From India, Pune
Dear Madhuri,
Refer to your query on PF, A employee can withdrawal the amount lies with his account after a grace period of 60 days by submission of Resignation, Retirement, Reaching the Age of Superannuation, Permanent settlement in Abroad, women employee shall not continue in service after marriage , Death, Permanent Disability etc.,. Grace period of 60 days is not required in the course of Death and Permanent Disability conditions.In the above conditions only the employee can be permitted to withdrawal the amount from EPFO. In the course of employment he cannot withdrawl the amount from EPFO.Partial Withdrawl only permitted under Loans /Advances if such employee fulfil the criteria of eligibility.
Regards
V R RAO PULIPAKA
09666051720
From India, Bangalore
Refer to your query on PF, A employee can withdrawal the amount lies with his account after a grace period of 60 days by submission of Resignation, Retirement, Reaching the Age of Superannuation, Permanent settlement in Abroad, women employee shall not continue in service after marriage , Death, Permanent Disability etc.,. Grace period of 60 days is not required in the course of Death and Permanent Disability conditions.In the above conditions only the employee can be permitted to withdrawal the amount from EPFO. In the course of employment he cannot withdrawl the amount from EPFO.Partial Withdrawl only permitted under Loans /Advances if such employee fulfil the criteria of eligibility.
Regards
V R RAO PULIPAKA
09666051720
From India, Bangalore
Hello, Thanks ........................As per company rule if both the side PF is going to deduct from employee salary. In that case why employee is not able to withdraw from this.
From India, Pune
From India, Pune
Dear Madhuri,
Refer to the above subject,the employer cannot do such practice.The employee can withdrawal the amount of employee and employer contribution remitted to EPFO whenever he leaves the organization to the said conditions.if the service rendered by the employee in an organisation below 06 months he cannot withdrawal the amount lies in Pension Fund @ 8.33% under EPS/FPS -95 Scheme.
Regards
V R RAO PULIPAKA
09666051720.
From India, Bangalore
Refer to the above subject,the employer cannot do such practice.The employee can withdrawal the amount of employee and employer contribution remitted to EPFO whenever he leaves the organization to the said conditions.if the service rendered by the employee in an organisation below 06 months he cannot withdrawal the amount lies in Pension Fund @ 8.33% under EPS/FPS -95 Scheme.
Regards
V R RAO PULIPAKA
09666051720.
From India, Bangalore
Dear Madhuri
As a matter of fact, the CTC of an employee comprises of Employee as well as Employer PF. But if the company is telling that the Gross salary is comprising both employee and employer PF, then only it becomes wrong.
Once the PF is commenced it should not be stopped till resignation. If you want to be an exempted employee then in the beginning itself you have to obtain the same from the employee and made the employee as exempted from Paying PF provided his salary must be above Rs.6500/-pm.
Stopping in between will make so many complication to the organisation, while the PF inspector visit the office for checking.
From India, Kumbakonam
As a matter of fact, the CTC of an employee comprises of Employee as well as Employer PF. But if the company is telling that the Gross salary is comprising both employee and employer PF, then only it becomes wrong.
Once the PF is commenced it should not be stopped till resignation. If you want to be an exempted employee then in the beginning itself you have to obtain the same from the employee and made the employee as exempted from Paying PF provided his salary must be above Rs.6500/-pm.
Stopping in between will make so many complication to the organisation, while the PF inspector visit the office for checking.
From India, Kumbakonam
Dear Bhaskar, But can you clear me that how using form 19 a person can withdraw the PF amount by closing the account. Is it possible to do so after resigning from an organization??
From India, New Delhi
From India, New Delhi
Dear All,
But I want to share my experience the entire EPFO, Bandra, PF department peoples are corrupt. I am following for my PF withdrawn since last four months. I had send the the mail to the concern authorities, like, regional pf commissioner, head pf commissioner and as well as I send the mail to the concern labour minister, but till date my problem not resolved. I am not getting any feedback from then after sending consecutives mail to us.
I am really furstrated with the PF department work culture.
Thanks & Regards.
From India, Mumbai
But I want to share my experience the entire EPFO, Bandra, PF department peoples are corrupt. I am following for my PF withdrawn since last four months. I had send the the mail to the concern authorities, like, regional pf commissioner, head pf commissioner and as well as I send the mail to the concern labour minister, but till date my problem not resolved. I am not getting any feedback from then after sending consecutives mail to us.
I am really furstrated with the PF department work culture.
Thanks & Regards.
From India, Mumbai
But Mr. Rao, Pension fund can be withdraw either completing 10 years of continous service or at the attain of 58 years of age. As if now there is no concept of 6 month mandatory to withdraw a pension fund. Please correct me if i am wrong.
Thanks & Regards
Anisha Mittal
From India, Delhi
Thanks & Regards
Anisha Mittal
From India, Delhi
Dear Shipra
Please fill Form 19 (PF Withdrawal) and Form 10C (EPS Withdrawal). Get it attested either by your previous employer or by the Nationalised Bank Manager. Attach the xerox copy of first page of your Savings Bank Pass Book and your Experience Certificate/Service Certificate in which your PF Number must have mentioned. Do not forget to write your Mobile No on the right top corner of both application. If you write you will get SMS Alert about the PF and Pension Contribution amount credit into your account.
If your application has reached and accepted by the PF Authorities, then you will get the money in your account after 45 days and before 2 months.
Wish you all the best Shipra.
From India, Kumbakonam
Please fill Form 19 (PF Withdrawal) and Form 10C (EPS Withdrawal). Get it attested either by your previous employer or by the Nationalised Bank Manager. Attach the xerox copy of first page of your Savings Bank Pass Book and your Experience Certificate/Service Certificate in which your PF Number must have mentioned. Do not forget to write your Mobile No on the right top corner of both application. If you write you will get SMS Alert about the PF and Pension Contribution amount credit into your account.
If your application has reached and accepted by the PF Authorities, then you will get the money in your account after 45 days and before 2 months.
Wish you all the best Shipra.
From India, Kumbakonam
Hello Mr.Rao,
As said in your comment "if the service rendered by the employee in an organisation below 06 months he cannot withdraw, the amount lies in Pension Fund @ 8.33% under EPS/FPS -95 Scheme".
Does the above mean, that he cannot withdraw any amount from PF OR whether he is not eligible to withdraw only Pension amount.
Kindly advise.
Thanks & regards,
Beena
From India, Pune
As said in your comment "if the service rendered by the employee in an organisation below 06 months he cannot withdraw, the amount lies in Pension Fund @ 8.33% under EPS/FPS -95 Scheme".
Does the above mean, that he cannot withdraw any amount from PF OR whether he is not eligible to withdraw only Pension amount.
Kindly advise.
Thanks & regards,
Beena
From India, Pune
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.
HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls