Hello,
Can anybody please tell me that if any employee has resigned from job by completing 2 yrs. And after resign if he wants to withdraw his PF contribution then according to my knowledge he/she will get (Employee contribution 12% + Employer contribution 3.67% + interest as per govt. rule).
Please tell me that am i right. I am confused about getting employer contribution. Shall we get both empr contrib (8.33%+ 3.67%) or only one acct contribution bet'n it.
Thanks & Regards,
Monali
From India, Pune
1Can anybody please tell me that if any employee has resigned from job by completing 2 yrs. And after resign if he wants to withdraw his PF contribution then according to my knowledge he/she will get (Employee contribution 12% + Employer contribution 3.67% + interest as per govt. rule).
Please tell me that am i right. I am confused about getting employer contribution. Shall we get both empr contrib (8.33%+ 3.67%) or only one acct contribution bet'n it.
Thanks & Regards,
Monali
From India, Pune
Dear Monali,
Employee will get Provident Fund Amount (12% Employee Contribution + Difference Amount or 3.67% + Interest) + Pension Amount (As per Table B under the Employees' Pension Scheme 1995) on withdrawal of Fund Amount under The Employees' Provident Funds and Miscellaneous Porvisions Act, 1952.
With Regards,
Ankur Rastogi
From India, New Delhi
Employee will get Provident Fund Amount (12% Employee Contribution + Difference Amount or 3.67% + Interest) + Pension Amount (As per Table B under the Employees' Pension Scheme 1995) on withdrawal of Fund Amount under The Employees' Provident Funds and Miscellaneous Porvisions Act, 1952.
With Regards,
Ankur Rastogi
From India, New Delhi
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PF Contribution on Leave Encashment - Clarification by EPFO.pdf