I am in the process of withdrawing PF from my previous company. I filled up forms, 19, 10c and "pf withdrawal trust form" and sent it to my previous employer. Now the PF handler wants me to send them an affidavit stating I have not been employed yet in any establishment to which the EPF& MP Act, 1952 applies. My current employer is an MNC and I do not know if this is true for this company. I want to know if it is not legal to just withdraw the money from my previous company's PF account while currently working in an establishment to which EPF& MP Act, 1952 applies. If so, is my only option to transfer the money to my new company's PF account?
From India, Bangalore
From India, Bangalore
Dear Kiran.Adoor,
Generally 2 months duration is required to withdraw from PF after getting relieved from service. This 2 months is the period to join for another job. If you are not getting such a job, don't withdraw PF in hurry as EPFO will give interest up to 3 years. Means EPFO encourage not to withdraw, but to transfer PF.
Hence if you are remitting PF in the present job, legally and morally PF withdrawal is not correct.
Abbas.P.S
From India, Bangalore
517Generally 2 months duration is required to withdraw from PF after getting relieved from service. This 2 months is the period to join for another job. If you are not getting such a job, don't withdraw PF in hurry as EPFO will give interest up to 3 years. Means EPFO encourage not to withdraw, but to transfer PF.
Hence if you are remitting PF in the present job, legally and morally PF withdrawal is not correct.
Abbas.P.S
From India, Bangalore
Abbas P.S,
Thanks a lot for the response. My apologies for not mentioning the dates. Here it is. I was employed in the previous organisation from August 2008 to November 2009. Ever since I left this company, I have been working in a new company where there is PF contribution. Five years are already over since I left my previous company. What I want to know is if it is legally mandatory to have the old company's PF transferred to the new one or if I have the provision to withdraw the amount for my personal use?
Thanks in advance.
From India, Bangalore
Thanks a lot for the response. My apologies for not mentioning the dates. Here it is. I was employed in the previous organisation from August 2008 to November 2009. Ever since I left this company, I have been working in a new company where there is PF contribution. Five years are already over since I left my previous company. What I want to know is if it is legally mandatory to have the old company's PF transferred to the new one or if I have the provision to withdraw the amount for my personal use?
Thanks in advance.
From India, Bangalore
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PF Calculation Sheet To The Subscribers At the Time Of Provident Fund Withdrawal.pdf
Provident fund.zip
PROVIDENT FUND.rar