Dear Seniors,
Greetings for the day...
My self Venkat, working as a HR Executive in a Bangalore based Maruti Dealership, having a query regarding the withdrawal of PF.
Case: There is an employee completed 10 years with the organization, wants to withdraw 100% where she doesn't want to go for Pension.
I told employee to go for loan since an employee can take loan for medical/marriage/house construction or purchase purpose, but employee is aiming for not to go for Pension claiming that there is provision for that if the management agrees.
kindly help in this regard.
Is there any Provision for avoiding PF Pension?
Is there any other alternative to withdraw full PF contribution (Both Employee's & Employer's)
Thanks in advance.
Regards,
Venkat
From India, Bangalore
Greetings for the day...
My self Venkat, working as a HR Executive in a Bangalore based Maruti Dealership, having a query regarding the withdrawal of PF.
Case: There is an employee completed 10 years with the organization, wants to withdraw 100% where she doesn't want to go for Pension.
I told employee to go for loan since an employee can take loan for medical/marriage/house construction or purchase purpose, but employee is aiming for not to go for Pension claiming that there is provision for that if the management agrees.
kindly help in this regard.
Is there any Provision for avoiding PF Pension?
Is there any other alternative to withdraw full PF contribution (Both Employee's & Employer's)
Thanks in advance.
Regards,
Venkat
From India, Bangalore
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Early PF withdrawal won’t be easy.pdf
Guide Lines for PF Withdrawal.doc