Can I withdraw my PF if I joining some other company?
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Can I withdraw my PF if I joining some other company?
If your employer has already created a new UAN for your PF account then you can withdraw the entire EPF balance of your old PF account after two months of switching jobs. You will technically be considered unemployed from the point of view of your old PF and hence you will be permitted to withdraw your money.
Employer can not deduct his share of the contribution to the employee’s provident fund. However he can reflect his contribution in the over all CTC offered to the employee at the time of his recruitment. Originally Answered: Can employer deduct his share of pf amount from employee salary?
What happens to your EPF balance when you leave your job?
The employee is free to either withdraw the monies held in the fund after leaving the job or transfer the balance over to the new employer. With the advent of UAN (Universal Account Number), a unique number assigned to the employee for PF purposes, it has become furthermore easy to track balance, initiate transfers or withdraw the EPF balance.
When can I withdraw PF amount after leaving the job?
Withdrawal PF Amount After Leaving the Job Last Updated : 12 Sep 2019. Employee Provident Fund (EPF) is a retirement corpus from which an employee can make withdrawals if he/she has been unemployed for more than 2 months. Currently, the EPFO allows 75\% PF withdrawal if it is carried out after just 1 month of unemployment.
How is pF calculated after 5 years of service?
For PF calculation purpose, 5 years of continuous service is counted taking into account the period worked with all previous employers. It means the transfer of PF is important to make sure your PF membership is taken care of. For example, if an employee works for 2 years in company A and then joins company B where he works for another 4 years.