Application for withdrawal of provident fund accumulations
Kapil Tiwari
(Querist) 29 December 2012
This query is : Resolved
As per the EPF rules (para 69), a member may be permitted "to withdraw the full amount standing to his credit in the fund on ceasing to be an employee in any establishment to which the Act applies provided that he has not been employed in any factory or other establishment to which the Act applies for a continuous period of not less than two months immediately preceding the date on which he makes an application for withdrawal".
If I act as follows:
1) I resign from previous job on 31/12/2012.
2) For two months I remain unemployed or take up employment in an establishment where EPF is not available or applicable.
3) I now apply for full withdrawal of my EPF accumulations by 7/3/2013 alongwith the requisite declaration that I was not employed as per para 69 for the previous two months.
4) I take up a new job, where EPF is applicable and available on 15/3/2013.
In this manner, will I have withdrawn by entire EPF accumulations legally and in conformity with the rules mandated by the EPF Scheme? Kindly advise if taking up employment for these two months, prior to making application for withdrawal of EPF accumulations, in an establishment not covered by the EPF Act, legally permitted in this case or one must be totally unemployed for the two months after resigning from the previous job and immediately preceeding the date on which he applies for withdrawal of the accumulations (which is, 7/3/2012 in my above proposed action plan)?
Nadeem Qureshi
(Expert) 30 December 2012
contact a lawyer personally in your area.
Raj Kumar Makkad
(Expert) 01 January 2013
The dates you mentioned in your query are impossible in application as 07.03.2013 has yet to come.
Kapil Tiwari
(Querist) 01 January 2013
Raj Kumar-ji, I tried to give only an example to understand if in this manner, after giving the necessary gap in employment,EPF withdrawal from the first company is legal.
Raj Kumar Makkad
(Expert) 05 January 2013
If the aforesaid was just an example then transfer the earlier accumulations in the new account.
Kapil Tiwari
(Querist) 06 January 2013
Thank you Sirs,Sudhir Kumar-ji and Raj Kumar-ji!
V R SHROFF
(Expert) 06 January 2013
u r advised to trf ur PF in new Fund, it will help in future
Raj ji & Sudhir advise is very correct.
Kapil Tiwari
(Querist) 06 January 2013
Thanks, Mr.V.K.Shroff, Sir.
