Hello,
Is it compulsory to withdraw PF upon leaving the job? An employee has worked for three years in a MNC . Now is in self-employment.Now the employee doesnt want to withdraw the PF as he may loose on the employers contribution if withdrawn earlier than five years.
Kindly Advise.
Warm Regards
From India, Delhi
Is it compulsory to withdraw PF upon leaving the job? An employee has worked for three years in a MNC . Now is in self-employment.Now the employee doesnt want to withdraw the PF as he may loose on the employers contribution if withdrawn earlier than five years.
Kindly Advise.
Warm Regards
From India, Delhi
If he has been a member of Employees Provident Fund, he will not lose employer's share if he has worked at least for 6 months. However, if he is not presently working he can apply for withdrawal of Provident Fund only and simultaneously apply for scheme certificate in lieu of withdrawal benefit of Pension Fund to which 8.33% of employer's contribution goes.
Regards,
Madhu.T.K
From India, Kannur
4250Regards,
Madhu.T.K
From India, Kannur
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HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls