Sir,
I am Professor in SFI Degree Engineering College. My PF account is about 6 years old. I am about to complete 60 years in July 2014.
Sir, because of orthopaedic surgery, I am on LWP basis for almost three months. May be for another two/three months, I may need to continue on LWP basis.Because I am not receiving salary for last three maonths and also I may not receivesalary for another 2/3 months, it has become very difficult to survive. Even if I am on job till superannuation, in my case 62 years, I won't be eligible for pension as I will not be completing 10 years total service.
Is it possible to discontiue my PF account so that I can use the money for my family expenditures? Anyway at prestent no PF is being deposited, both from my side as well as Employer side, there is no point in continuing the PF account. If not closer, is it possible to for partial withdrawal till I am on LWP?
Is it possoble to withdraw from PF account to pay fees for my son, it about three lacs to be paid after a month or so? How much time it will take for such withdrawal?
Kindly guide me and oblige.
Prof. Vinodray Parmar.
CAclubindia
