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Old 27th September 2008, 07:07   #1
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Hello all,

As I am moving out of Bangalore, I am closing my PF account and withdrawing the amount. I came to know that it could take up to 3 months for you to receive the money. But incase your are going abroad, it is faster. What proof do they require to show that you are going abroad (visa copy?).

Thanks

Nirmal
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Old 27th September 2008, 07:11   #2
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You can just write a letter saying that you are quitting your job and starting your own business. Ask them to kindly release the funds at the earliest. This should get your funds released in 15 days. This is how I got my PF amount released early.
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Old 27th September 2008, 07:49   #3
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In case of chaging job within India, (form one state to another) which one is a good idea? I can transfer my PF account to the new company, or close this down and start a new one there)
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Old 27th September 2008, 09:23   #4
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AFAIK, the government mandate is that you cannot remove the PF amount before 3 months if you are moving from one job to another job within india.

I am not sure if PF folks will let you withdraw in 15 days, that would be a shame on the government style of slow processing
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Old 27th September 2008, 09:52   #5
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Quote:
Originally Posted by vikram_d View Post
You can just write a letter saying that you are quitting your job and starting your own business. Ask them to kindly release the funds at the earliest. This should get your funds released in 15 days. This is how I got my PF amount released early.
+1 This is how a friend also got his PF within 15-20 Days. They do hangle a bit bit it works
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Old 27th September 2008, 10:31   #6
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Its been 5 months since my PF withdrawal, i am still to get my money. :(
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Old 27th September 2008, 11:04   #7
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Where do I have to write to expedite the process? I will be withdrawing my PF soon.
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Old 27th September 2008, 22:20   #8
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i submitted my visa copy, ticket copy etc to prove that I am flying out of the country, apparently the morons didn't take it at face value, I am yet to get my Pf after close to 4 months.
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Old 27th September 2008, 22:38   #9
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Why don't you just let it lie there? If you join a job where you are entitled to PF, you

1. Can simply get your account transferred if you change job location to any place within India.

2. If you contribute for at least 10 years, and wait till you are 50 years old, you are entitled to a pension, minimum Rs. 500/- IIRC.
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Old 27th September 2008, 23:08   #10
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Quote:
Originally Posted by BaCkSeAtDrIVeR View Post
Why don't you just let it lie there? If you join a job where you are entitled to PF, you

1. Can simply get your account transferred if you change job location to any place within India.

2. If you contribute for at least 10 years, and wait till you are 50 years old, you are entitled to a pension, minimum Rs. 500/- IIRC.
+1. Transfer the amount to your new company. Withdrawing cash will attract tax of 30%. Otherwise, you have to take the bonds (LIC) with a lock in period of 3~5 years.
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Old 29th September 2008, 10:44   #11
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+1. Transfer the amount to your new company. Withdrawing cash will attract tax of 30%. Otherwise, you have to take the bonds (LIC) with a lock in period of 3~5 years.

Are you sure about 30% tax (TDS?). Because I am about to withdraw the PF lying with my old firm and I haven't heard from anyone this tax being applicable.
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Old 29th September 2008, 10:46   #12
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As far as i have heard, provident fund is not taxable.
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Old 29th September 2008, 10:49   #13
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Quote:
Originally Posted by kuttapan View Post
i submitted my visa copy, ticket copy etc to prove that I am flying out of the country, apparently the morons didn't take it at face value, I am yet to get my Pf after close to 4 months.
Where did you submit all this? at the company or did you send it to the PF authority? I need to do the same shortly and I have all of the stuff ready with me - tickets and visa.
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Old 29th September 2008, 11:11   #14
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See if you are not in need of the money in short notice. Once you do all the paper work theere are two options either you transfer it to new PF account or you give your account number & the Govt transfers the amount in that account, it took me around 3 months & the money came in two installments(dont know why) in a gap of around 10 days.

Spadival: The company's payroll dept usually does this.
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Old 29th September 2008, 12:13   #15
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To find out the status of your application and why is it stuck please file a RTI application. Somehow you will find that your application would be expedited quicker than expected!
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