How to claim your Provident Fund (PF)?

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How to claim your Provident Fund (PF)?

Approach 1

Fill the form and submit it along with a blank cheque with the employer who will send it to the regional provident fund office for approval. The PF office will process the request and transfer the provident fund money to your registered bank account within a period of one month.

Approach 2

Fill the form and get it attested by bank manager. Submit the attested form along a copy of blank cheque with the regional provident fund office for approval. The PF office will verify the documents and process the request within one month. EPFO deposits the amount directly to the employee’s registered bank account.

Note:

  • Claim application will be processed in the city in which the employer is situated.
  • Along with the PF amount, pension fund can also be withdrawn if the service is less than 10 years. If the service is more than 10 years than pension amount can be withdrawn only over the age of 50 years. To withdraw the pension amount, Form 10c has to be filled and attached with the other documents to be submitted.

According to the rules, PF amount can be withdrawn only after 2 months of leaving the job, so the forms are to be submitted only after 2 months and then the withdrawal process begins. The reason behind this wait period of two months is that as per the EPF rules you can only withdraw your PF money, only if you have no job at the time of withdrawing your money and 2 months have passed.  It takes approximately 3 months to get the claim after leaving the job. It is illegal to withdraw PF money if you switch your job, however transfer is allowed in case you get a new job.

By mudasir rashid with 0 comments

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