Regarding the PF query ( Say one Co is A & another Co is B) One of the employee had resigned from company A and joined the company B. After 6months( 4th July till 18th Dec07) employee has resigned from Company B and rejoined the earlier Company A. My question is
1. Employee got new PF no. from Company B.
2. But Employee has not applied for transfer of PF nor withdrawn the PF with company B. In this case what is the solution.
3.As he has not withdrawn the PF can the same no. of PF to be allotted to employee from company A
4. Employee plans to withdraw the PF from Company B. can the employee proceed further in this matter.
as the PF period of contribution if from 4th July 07 till 18th dec. can it be considered as 6months.
Pls provide me your valuble feedback.
From India, Pune
11. Employee got new PF no. from Company B.
2. But Employee has not applied for transfer of PF nor withdrawn the PF with company B. In this case what is the solution.
3.As he has not withdrawn the PF can the same no. of PF to be allotted to employee from company A
4. Employee plans to withdraw the PF from Company B. can the employee proceed further in this matter.
as the PF period of contribution if from 4th July 07 till 18th dec. can it be considered as 6months.
Pls provide me your valuble feedback.
From India, Pune
In this case the employees will be given a 3rd PF account and he'll have to transfer/ withdraw money from both previos accounts to the 3rd one and discontinue with the later two accounts.
Govt of India's PF Deptt. has come up with a better option like PAN CARD now employees will have a permanent PF Account and a Card and they'll be able to withdraw a set limit of PF amount time to time. I believe this is in process as our company sent all the related employees details to PF Deptt last year in June/July for the purpose and company like Hero Honda is already availing this facility.
From United States, Santa Clara
Govt of India's PF Deptt. has come up with a better option like PAN CARD now employees will have a permanent PF Account and a Card and they'll be able to withdraw a set limit of PF amount time to time. I believe this is in process as our company sent all the related employees details to PF Deptt last year in June/July for the purpose and company like Hero Honda is already availing this facility.
From United States, Santa Clara
Dear Member,
Whenever, the transfer/resignation takes place, the employee should opt for transfer of EPF account and get a sercive certificate for EPS claim. Every transfer and new joining to be informed to the EPF office and whenver the employee get new employee account number, it is better to transfer his all old accumulation. If he opt for withdrawal of amount, vide his new account number only he can contribute. Proper transfer forms (A-B-A companies). If the transaction is not continued for any reason the employee EPS contributory service will be get affected.
Murugavel.B
Chennai
From India, Madras
Whenever, the transfer/resignation takes place, the employee should opt for transfer of EPF account and get a sercive certificate for EPS claim. Every transfer and new joining to be informed to the EPF office and whenver the employee get new employee account number, it is better to transfer his all old accumulation. If he opt for withdrawal of amount, vide his new account number only he can contribute. Proper transfer forms (A-B-A companies). If the transaction is not continued for any reason the employee EPS contributory service will be get affected.
Murugavel.B
Chennai
From India, Madras
Hello all,
I have a similar problem now.
I've recently moved to company B about a month ago and since my family is relocating to another city and company B has no operations in that city.. I have no option but to leave.
I've not yet given my company A's PF number here... so do you think it would be okay if I directly produce it to company C?
Is that lawful?
I heard that it takes at least 3-4 months for a new PF account to be activated in the new organization... so theres no point in me applying an a/c with B when I know I'll be leaving it in less than a month's time.
Are there any potential problems that I might encounter with company C later on...?
Im really confused. Please advise.
Regards.
From India, Hyderabad
I have a similar problem now.
I've recently moved to company B about a month ago and since my family is relocating to another city and company B has no operations in that city.. I have no option but to leave.
I've not yet given my company A's PF number here... so do you think it would be okay if I directly produce it to company C?
Is that lawful?
I heard that it takes at least 3-4 months for a new PF account to be activated in the new organization... so theres no point in me applying an a/c with B when I know I'll be leaving it in less than a month's time.
Are there any potential problems that I might encounter with company C later on...?
Im really confused. Please advise.
Regards.
From India, Hyderabad
Hi,
Any time you can transfer your PF accumulations, since you havnt transferred the PF accumulation of A to B, you can directly transfer this accumulations to C on Joining.
If you got the salary in B, definetely PF nos will be created and given to you, post which you can transfer the PF accumulations of B to C also.
From India, Mumbai
Any time you can transfer your PF accumulations, since you havnt transferred the PF accumulation of A to B, you can directly transfer this accumulations to C on Joining.
If you got the salary in B, definetely PF nos will be created and given to you, post which you can transfer the PF accumulations of B to C also.
From India, Mumbai
Dear Sir. I am Pawan.I am fresher Student.Actully.I am new user of cite Hr.Plz.help me in Pf cases.How do you to handled of HR Executive.give me detaiks... Thanks
From India, Delhi
From India, Delhi
Dear Sir / Madam
Following is my PF queary,,,
1. Presently we have a "X" Company
2. We are create a new company,,,, Y
3. My 5 employees transferred from X company,,,, to Y Company w.e.f. Sep'10
4. In Sep'10, we are giving Increment w.e.f. July'10
5. We are paying one employee to 10,000 basic + 3000 Arrears basic { July'10 & Aug'10)
We required answer for ,,,,,,,,,,,,,,
6. Which basic are mentioned to Y Company ,, 1. Rupees 10,000 or 2.Rupees 13000
7. If mentioned Rs.10,000,, can i pay 3000 to X company
waiting for your reply
Shailesh Raut
From India, Mumbai
Following is my PF queary,,,
1. Presently we have a "X" Company
2. We are create a new company,,,, Y
3. My 5 employees transferred from X company,,,, to Y Company w.e.f. Sep'10
4. In Sep'10, we are giving Increment w.e.f. July'10
5. We are paying one employee to 10,000 basic + 3000 Arrears basic { July'10 & Aug'10)
We required answer for ,,,,,,,,,,,,,,
6. Which basic are mentioned to Y Company ,, 1. Rupees 10,000 or 2.Rupees 13000
7. If mentioned Rs.10,000,, can i pay 3000 to X company
waiting for your reply
Shailesh Raut
From India, Mumbai
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HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls