Provident Fund doubt

Others 893 views 6 replies

Hi everyone. I have a doubt regarding PF. I hope I can get it cleared in this forum. I tried to search for a similar post, but couldn't find it. Incase there is a discussion specifically related to this issue, kindly direct me to that thread.

My name is Vignan & I am 25 years old. I am working as a Business Analyst with small software company since Feb, 2011. I used to work with GE for 2.8 years before I joined DSR. While in GE, I was given a PF account and with was maintained properly as per procedures. However, after I joined my new company, I realised that the financial procedure in my company is not well maintained.

My current company hates employees who leave. Therefore, I was asked to sign a bond for 2 years, which I did.

They are cutting some part of my salary as PF. But they have not created any PF account for me yet. Let us say that after my bond period, if I wish to leave the company, there is good chance that they wont bother to process my PF fund transfer. Or I am afraid they might not even help me withdraw that amount.

In such a case, when my ex employer is not doing anything regarding my PF "after I leave the company", what can I do?

If I ensure that they open a PF account for me, can I withdraw my PF money without the companies indulgence? Because if the company has to process my PF withdrawal/transfer, I guess, that might not happen.

Kindly help me in this regard. If you need more info regarding the situation, I am more than wiling to provide.

Replies (6)

1) have you provided the new employer the details of PF account of old employer, if yes then new employer has to continue old pf account for your contributions under new company.

2) if No, then they will generate new employee id after initial trainee period and would submit contributions to new account, in that case you have to claim old company pf by submitting form 19and 10, duly countersigned by old employer.

3) if pf is deducted, then the same would be deposited to pf, new entry procedure may take some time, but not to worry about it.

4) in case u leave the job next, you have to get acount slips, and form 19+form 10 duly countersigned by employer to produce your claim again in pf office.

See if this can help

https://www.epfindia.com/

I did not provide the old PF account details to my new employer. But they said they are already deducting the PF from my salary. Honestly I don't know where they putting that money into.

Thank you for explaining the procedure. So, now, when I leave my current company, all I must do is get form 19 & 10 countersigned by my current employer to submit in the PF office. More doubts.

1. Also, I would like to know what I can do if my employer does not countersign form 19 & 10 when I leave (understanding that he will be upset with me leaving) the company. Would I end up losing my PF for the duration that I worked there?

2. I know that I must sign a form for opening a PF account with my nominee details. But I heard there are different types of PF accounts. Is there any kind of PF account for which I dont have to sign any form with my nominee details? Like a PF account which the company can open on my behalf or something?

 

 

Originally posted by : U S Sharma


1) have you provided the new employer the details of PF account of old employer, if yes then new employer has to continue old pf account for your contributions under new company.

2) if No, then they will generate new employee id after initial trainee period and would submit contributions to new account, in that case you have to claim old company pf by submitting form 19and 10, duly countersigned by old employer.

3) if pf is deducted, then the same would be deposited to pf, new entry procedure may take some time, but not to worry about it.

4) in case u leave the job next, you have to get acount slips, and form 19+form 10 duly countersigned by employer to produce your claim again in pf office.

as there is only one PF for employees of private sector, others are trust funds, not linked with PF

ask your company manager about your doubts.

Thank you for the clarification on types of PF accounts. The problem is that my companies management is not so supportive regarding financial matters. Now, I just want to know if I can do anything if my current company does not help with transfering my PF money.

Originally posted by : U S Sharma

as there is only one PF for employees of private sector, others are trust funds, not linked with PF

ask your company manager about your doubts.

https://epfigms.gov.in/genEstCodeFrm.aspx?leftWidth=0

 

use this link to know atleast that your company is registered with PF or not.


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