Dear All,
I work in a company where there are many daily wage-earning laborers. Few laborers work for just 2-3 months and leave the job. We have been depositing PF contributions promptly. My query is that if any laborer who has worked for less than 6 months wants to withdraw his PF, is it allowed, or is there any clause in PF Laws specifying the minimum contribution period required to withdraw PF?
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I work in a company where there are many daily wage-earning laborers. Few laborers work for just 2-3 months and leave the job. We have been depositing PF contributions promptly. My query is that if any laborer who has worked for less than 6 months wants to withdraw his PF, is it allowed, or is there any clause in PF Laws specifying the minimum contribution period required to withdraw PF?
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Hi Bhagya If any employees contribution is less than 3 months then he/she can’t withdraw. Only above 3 months PF withdrawal is acceptable
From India, Bangalore
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653From India, Bangalore
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Dear Sir, Is it Above 3 months or 6 months of employee contribution in to EPF for withdrawal eligibility ? please give reference in the EPF act.
From India, Karimnagar
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From India, Karimnagar
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Can you point out provision, because there is no such provision under EPF&MP Act, EPF Scheme.
From India, Delhi
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From India, Delhi
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Dear Bhagya Anant, Greetings for the day! If PF contribution deposited then EPF withdrawal claim (i.e. FORM 19) may be process after 60days gap of date of exit from employment.
From India, Sirohi
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From India, Sirohi
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For any service that is less than six months, the amount paid into the Provident Fund can be withdrawn. However, the employer's contribution towards the Pension Fund can only be claimed if the employee has worked for at least six months.
Madhu.T.K
From India, Kannur
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Madhu.T.K
From India, Kannur
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means there no such limitation like 3 month minimum compulsory contribution required to withdraw only PF fund ?
From United States, Cambridge
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From United States, Cambridge
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Hi, I have overall work experience of 5.5 years, worked in two organizations. I am currently going abroad, so I want to withdraw my PF. My employee share is 112,080, and employer share is 53,851. My pension is 22,570 (pension is showing only for the current organization, which is only two years).
1. How much tax will be taken if I withdraw now?
2. What will happen to my previous employment Pension?
3. Will I get any pension amount or not?
4. For going abroad reason, is there any tax exemption?
5. If I will lose my pension (for withdrawal before 10 years), can I continue my pension? Or is there any way to save my pension alone?
Regards,
Dhakshmna
From India, Udupi
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1. How much tax will be taken if I withdraw now?
2. What will happen to my previous employment Pension?
3. Will I get any pension amount or not?
4. For going abroad reason, is there any tax exemption?
5. If I will lose my pension (for withdrawal before 10 years), can I continue my pension? Or is there any way to save my pension alone?
Regards,
Dhakshmna
From India, Udupi
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Since you have more than 5 years of service, no tax will be deducted from the amount withdrawn from the PF.
When your PF from the old organization was transferred, the pension fund should also have been transferred. In the online statement, only the current pension fund contributions may be available. This is because the pension does not depend on the amount available in the pension fund but depends on the length of service and the pensionable salary at the time of retirement.
If you do not want to withdraw the pension fund but want to keep it for taking advantage when you come back to India and join another organization, then you can opt for a Scheme Certificate in lieu of withdrawal benefits. The Scheme Certificate is a certificate issued by the Labour Ministry under the Government of India certifying your 6 years of service. Once you join an establishment, you can surrender this certificate, and your past service will be added to your new service. This will enable you to accumulate pension service. Moreover, in the event of any unfortunate happening to the member holding the Scheme Certificate, the dependents will start receiving a pension. This will safeguard your pension and pensionable service.
Madhu.T.K
From India, Kannur
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When your PF from the old organization was transferred, the pension fund should also have been transferred. In the online statement, only the current pension fund contributions may be available. This is because the pension does not depend on the amount available in the pension fund but depends on the length of service and the pensionable salary at the time of retirement.
If you do not want to withdraw the pension fund but want to keep it for taking advantage when you come back to India and join another organization, then you can opt for a Scheme Certificate in lieu of withdrawal benefits. The Scheme Certificate is a certificate issued by the Labour Ministry under the Government of India certifying your 6 years of service. Once you join an establishment, you can surrender this certificate, and your past service will be added to your new service. This will enable you to accumulate pension service. Moreover, in the event of any unfortunate happening to the member holding the Scheme Certificate, the dependents will start receiving a pension. This will safeguard your pension and pensionable service.
Madhu.T.K
From India, Kannur
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We are trustees of Children's Public School Educational Trust. Two trustees are receiving remuneration for managing the trust. Our remuneration is Rs. 22,000 and Rs. 20,000 respectively. Additionally, there are 18 staff members, out of which 6 are daily wage workers.
The question arises: is it mandatory to provide PF for the total permanent staff of 19? The salary of the staff varies according to their work periods, but does not exceed 4 hours, ranging from Rs. 6,000 to Rs. 14,000.
However, 6 staff members are not regular employees as they are preparing for competitive exams and are not willing to contribute to the PF.
Considering these circumstances, please provide guidance accordingly.
From India
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The question arises: is it mandatory to provide PF for the total permanent staff of 19? The salary of the staff varies according to their work periods, but does not exceed 4 hours, ranging from Rs. 6,000 to Rs. 14,000.
However, 6 staff members are not regular employees as they are preparing for competitive exams and are not willing to contribute to the PF.
Considering these circumstances, please provide guidance accordingly.
From India
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Since there are 20 employees in total, you will be covered by PF. You and the other member of the trust are receiving a salary of more than Rs 15,000, so the two of you will not be covered, but all others will be covered. Part-time employees will also be covered, even if they are not interested.
From India, Kannur
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From India, Kannur
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PF guidleines for Pension fund.pdf
Download-New-re vised-Form-10c- UAN-pension-fun d-withdrawal-pi c.jpg