Hi Fellow Members,
I have been noticing a lot of queries arising on PF and the ways to settle or withdraw our money from it. I thought, the document that is attached with this should be able to clarify a lot of our doubts regarding PF. Hope this is of benifit to one and all.
While the attached document explains the ways to withdraw money from your PF account, let me advice our young members to resist the urge to settle the PF account as its a blind saving for us which would to some extent take care of our retired life. More over our government also gives a simple interest of around 8% per annum for the fund available in the account, which is a competitive financial instrument today for safe savings.
So dont settle your PF accounts and keep transfering your account. Happy savings!!
Regards,
Muthukumar K
From India, Mumbai
13I have been noticing a lot of queries arising on PF and the ways to settle or withdraw our money from it. I thought, the document that is attached with this should be able to clarify a lot of our doubts regarding PF. Hope this is of benifit to one and all.
While the attached document explains the ways to withdraw money from your PF account, let me advice our young members to resist the urge to settle the PF account as its a blind saving for us which would to some extent take care of our retired life. More over our government also gives a simple interest of around 8% per annum for the fund available in the account, which is a competitive financial instrument today for safe savings.
So dont settle your PF accounts and keep transfering your account. Happy savings!!
Regards,
Muthukumar K
From India, Mumbai
Oh! I am happy that I am of some use to the forum. Thank you both and I have been watching both your contribution to this forum and its tremendous. Warm Regards n Happy Deepavali!! Muthukumar K
From India, Mumbai
From India, Mumbai
Hi,
Just wanted to know if there is any maximum deadline for claiming PF from the previous employer. I have heard from some one that maximum deadline is 5 years. If PF is not withdrawn within 5 years from changing the job or service then EPF office transfer the monies to millitary fund. Is that true?
Appreciate your swift response.
Regards,
From India, Mumbai
Just wanted to know if there is any maximum deadline for claiming PF from the previous employer. I have heard from some one that maximum deadline is 5 years. If PF is not withdrawn within 5 years from changing the job or service then EPF office transfer the monies to millitary fund. Is that true?
Appreciate your swift response.
Regards,
From India, Mumbai
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Circular Dated 28-10-2016 for settlement of PF Death Case Claims within 7 days.pdf
Guide Lines for PF Withdrawal.doc