Dear HR Leader’s, Please refer the herewith enclosed " New PF Rules from 1st, May, 2016 " With regards, Nanjegowda 9945282846
From India, Bangalore
106From India, Bangalore
Dear Nanjegowda,
As per 10 Feb 2016 Notification G.S.R. 158 (E), employer’s portion can be withdrawn after attaining the retirement age (58 years).
But your picture is showing that if employee's EPS end up with less than 10 years then it is refunded. It has been changed in the Notification G.S.R. 158 (E).
If anything wrong in this above mentioned, please clarify.
Regards
Thirumurugan
From India, Hyderabad
As per 10 Feb 2016 Notification G.S.R. 158 (E), employer’s portion can be withdrawn after attaining the retirement age (58 years).
But your picture is showing that if employee's EPS end up with less than 10 years then it is refunded. It has been changed in the Notification G.S.R. 158 (E).
If anything wrong in this above mentioned, please clarify.
Regards
Thirumurugan
From India, Hyderabad
Hi sir, Thanks for your guidance, Also i just need to know that if any employee had resigned last year of want to draw pf next month so how much amount he’ll get.. Regards Renu
From India, Noida
From India, Noida
Dear Renu,
As per present rule (w.e.f 10 Feb 2016), Employee can withdraw his own contributions + interest portion only.
If Employee go to UAN Portal, they will download his epf E-Passbook. Then he will know very well about his own contributions + interest and employer’s contribution.
They eligible to claim his own contributions + interest portion only.
Regards
Thirumurugan
From India, Hyderabad
As per present rule (w.e.f 10 Feb 2016), Employee can withdraw his own contributions + interest portion only.
If Employee go to UAN Portal, they will download his epf E-Passbook. Then he will know very well about his own contributions + interest and employer’s contribution.
They eligible to claim his own contributions + interest portion only.
Regards
Thirumurugan
From India, Hyderabad
Basically Provident means provide for the future. IN EARLIER DAYS job change was a rare phenomenon and salary was also not substantial But it is exactly opposite. More over people do not believe in future and they get locked up in this Complex world. To cite my own example I switched over six times and all the occasions I applied for Transfer through Form 13 and that is not great but what is expected of an employee/member. It is not wise to think that one can REPAY the existing loan from out of the available accruals and continue to contribute afresh.
From India, Chennai
From India, Chennai
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Employees' PF Appellate Tribunal Procedure Rules 1997.pdf
PF WITHDRAWAL RULES.zip