Hello,
I have been working in private sector since last 9 years and have EPF contributions by me and employer since then.
Around 4 years back I switched jobs and joined my current orgnaization . New employer has EPF trust whereas previous employer had EPF account with EPFO.
New employer's EPF trust was not recognized by EPFO so inspite of repeated attempts, EPF transfer from EPFO to the current employer's EPF did not happen. Regarding this, there was a legal tussle going on which got resolved in May, 2011. Now, new employer's trust is recognized but before making the EPF transfer there are some procedural hassles which are going on since last 10 months. This may go on and on.
With new EPF ruling (3 yrs of inactivity), I am loosing money on my previous employer's EPF amount since June, 2011. Would you please suggest what course of action should I take to prevent monetary loss ?
Would EPF withdrawal the best solution in such a situation ? Would it attract taxation ?
Regards,
Salil
CAclubindia
