DUE TO LOSS OF EMPLOYMENT and my PF account started from Sep 15(almost 4 yrs), i WOULD LIKE TO WITHDRAW THE PF DUE TO SHORTAGE OF FUND. Do we need to share any document to pf office stating that i have been terminated from the organization . Obviously i dont have any as they have asked me to resign. They would be giving 2 months additional salary. this would be in the final settlement .Kindly please advise me at the earliest. saravanan
2 Answers
Hi,
Your case may be treated as normal Resignation only.
EPF Subscribers who resign from their service can now withdraw 75% of their total Provident Fund (PF) kitty after one month from the date of cessation of service. This will be considered as a Partial PF withdrawal (Advance).
Members will continue to have the choice of withdrawing the entire / balance amount, if they want to close the account, after two months , provided the member is unemployed and/or do not make any fresh PF contributions.
You may go through below articles :
Please login or Register to submit your answer
Thanks. Is Partial PF withdrawal(advance) of 75% in case of no employment is taxed during the withdrawal for my case as i have not completed 5 years.
Hi.. I believe it is not considered as a taxable income. You may cross-check with EPFO/employer as well.