Epf should be withdrawn or continued?
Dr. Sharad Garg
(Querist) 02 October 2011
This query is : Resolved
I had given a 3 mth notice period on June 16, 2011. I was instead relieved from my service w.e.f. June 30, 2011. My salary along with EPF for June, 2011 was not paid by previous employer. I joined new job on Sept 3, 2011, with the result that EPF contribution had gap of June, July, Aug, Sept (4 months). In my previous employment I had contributed to EPF for 9 years.
1. Should I withdraw my EPF amount now or should I give the same PF a/c no. to existing employer and he can continue to contribute EPF with my contribution as well in the same account?
2. What are consequences of four months of gap?
Kindly suggest.
Sailesh Kumar Shah
(Expert) 02 October 2011
1. Should I withdraw my EPF amount now or should I give the same PF a/c no. to existing employer and he can continue to contribute EPF with my contribution as well in the same account?
Ans. AS EPF Rules, you can't not withdraw EPF until you are in service.
2. What are consequences of four months of gap?
Ans. None effect except epf contribution .
K.S.Srinivas
(Expert) 02 October 2011
You can transfer your epf account from the previous employer to the present employer by filing form No.31 which is the prescribed form for transfer of account.
No problems for four months gap.
Raj Kumar Makkad
(Expert) 02 October 2011
You should also raise the question of non-deposit of your EPF contribution and deduction for the month of June with EPF authorities which ultimately may be beneficial for the disbursement of your salary for that money and you better know about rest of 2.5 months.
So far as your query is concerned, much has been opined to which I endorse.
Dr. Sharad Garg
(Querist) 11 October 2011
Thank you experts for your answers but exactly nobody mentioned clearly if I should consider withdrawing EPF amount or I should transfer the account to existing new employer and continue contributing to EPF account
K.S.Srinivas
(Expert) 15 October 2011
You can not withdraw epf amount as long as you are in the service of any organisation. You can transfer you epf account as already advised by me and continue contribution the epf contribution.
Dr. Sharad Garg
(Querist) 18 October 2011
If I wish to work with my new employer for few months before I transfer the EPF account that I had with previous employer, will it be fine technically?
