Respected Seniors,
I am working in Garment industry as a HR Executive. I am new in this field.
Please solve my query. If some one has savings account in the post office so can he get his pf amount in his post office savings account.
Thanking you
From India, Ludhiana
3I am working in Garment industry as a HR Executive. I am new in this field.
Please solve my query. If some one has savings account in the post office so can he get his pf amount in his post office savings account.
Thanking you
From India, Ludhiana
Dear Mr. Ranvijay781,
Is it a PPF account that he opened? If the account that he maintains is a PPF account then one has voluntarily opened that account.
You cannot mix EPF with PPF. Therefore the employer will have to open a PF account and contribute the shares.
From India, Visakhapatnam
Is it a PPF account that he opened? If the account that he maintains is a PPF account then one has voluntarily opened that account.
You cannot mix EPF with PPF. Therefore the employer will have to open a PF account and contribute the shares.
From India, Visakhapatnam
Hi Ranvijay, Yes, if you go for withdrawal, you can get your PF amount in your existing post office savings account. Regards, Vijay Kumar
From India, Silvassa
From India, Silvassa
Dear All,
A PF account with the EPFO carries with it other related benefits such as Pension Scheme, Employees' Deposit Linked Insurance benefit etc. These are related to each other. Pension is admissible to a member of the PF after his retirement or to the nominees after his death. So PF account has no substitute. Thanks & regards,
From India, Pune
A PF account with the EPFO carries with it other related benefits such as Pension Scheme, Employees' Deposit Linked Insurance benefit etc. These are related to each other. Pension is admissible to a member of the PF after his retirement or to the nominees after his death. So PF account has no substitute. Thanks & regards,
From India, Pune
You are confused with two types of PF Accounts.
1. Employees Provident Fund is a socila security benefit which is deducted from your salary by the employer and credited to the PF authorities along with the company contribution. This can be settled after retirement or resignation if you are not joining any company further. If you join any other company the amount will be transferred to the new company account.
2. PPF - Public Provident Fund- This can be opened in state bank of india by you personally and deposit the amount from your own savings.
Therefore the pf amount from your salary cannot be remitted to any post office account or bank account of your own.
From India, Madras
1. Employees Provident Fund is a socila security benefit which is deducted from your salary by the employer and credited to the PF authorities along with the company contribution. This can be settled after retirement or resignation if you are not joining any company further. If you join any other company the amount will be transferred to the new company account.
2. PPF - Public Provident Fund- This can be opened in state bank of india by you personally and deposit the amount from your own savings.
Therefore the pf amount from your salary cannot be remitted to any post office account or bank account of your own.
From India, Madras
Please forgive me for saying everyone is in hurry to give answer/ suggestions without understanding actual issue.
Sometimes its better to ask counter question to exactly understand what help member (in this case Ranvijay) is seeking. This will bring clarity on issue to both information seeker as well as contributor.
Thanks
From India, Delhi
Sometimes its better to ask counter question to exactly understand what help member (in this case Ranvijay) is seeking. This will bring clarity on issue to both information seeker as well as contributor.
Thanks
From India, Delhi
Jyoti, You are right , I am agree with you, previously p.f. office made the payment through Post Office now they are doing through bank only Regards, Nandkumar
From India, Pune
From India, Pune
AFTER RESIGNATION OR LEAVING OF JOB FORM 10 A IS TO SUBMIT PF AUTHORITIES IN THE RESPECTED AREA THEN THE PF AMOUNT CREDIT IN THE EMPLOYEES ACCOUNT WILL BE SENT TO THE CONCERN BANK WHICH WAS GIVEN IN THE SAID FORM.
BUT CONTINUOUS FUND TRANSFER OR KEEPING THE MEMBERSHIP IN PF FOR 10 YEARS IN CASE OF PRIVATE EMPLOYEES WILL GET PENSION AS APPLICABLE.
HENCE DO NOT WITHDRAWAL OF PF AMOUNT IN THE MEANWHILE
From India, Visakhapatnam
BUT CONTINUOUS FUND TRANSFER OR KEEPING THE MEMBERSHIP IN PF FOR 10 YEARS IN CASE OF PRIVATE EMPLOYEES WILL GET PENSION AS APPLICABLE.
HENCE DO NOT WITHDRAWAL OF PF AMOUNT IN THE MEANWHILE
From India, Visakhapatnam
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 WORKING-MASTER SUMMARY.xls