Dear PF Experts,
Kindly advise whether is it permissible as per the PF Rules:
1.0 We are having a PF Trust and also a separate PF Code. Can we transfer PF accumulation from some of the employees from Trust to Government Code and allow employees to contribute to RPFC Code? There may be or may not be request from the concerned employees.
2.0 We have hired an employee who is PF Member in the existing organization through Government PF Code. Now he wants that his PF accumulation should be transferred to the Government PF code and his contribution should also be made through the Government Code. Is it permissible?
Regards,
KK Agrawal
From India, Delhi
10Kindly advise whether is it permissible as per the PF Rules:
1.0 We are having a PF Trust and also a separate PF Code. Can we transfer PF accumulation from some of the employees from Trust to Government Code and allow employees to contribute to RPFC Code? There may be or may not be request from the concerned employees.
2.0 We have hired an employee who is PF Member in the existing organization through Government PF Code. Now he wants that his PF accumulation should be transferred to the Government PF code and his contribution should also be made through the Government Code. Is it permissible?
Regards,
KK Agrawal
From India, Delhi
Usually in any organization there are one PF Trust as well as EPFO Code are not existing. Even if it is exist, the TRUST must be exempted from EPFO and Income Tax otherwise it will not be considered as valid Trust. In that case all money of all members must be transferred from Trust with interest to EPFO. Employees will continue to deposit their contribution to EPFO only. I do not know whether the PF Trust is already exempted by EPFO or not. If not, then immediately all money for all Trust members must be transferred to EPFO with accumulated interest showing proper calculation data.
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
+91 98310 81531
USD HR Solutions – To Strive towards excellence with effort and integrity
From India, New Delhi
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
+91 98310 81531
USD HR Solutions – To Strive towards excellence with effort and integrity
From India, New Delhi
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.
PF Online Transfer.pdf
Steps to transfer PF amount.jpg