Pf closure
D Narasimhan
(Querist) 20 March 2013
This query is : Resolved
If an employee leave an organisation and get job immediately, is he not eligible to close and avail PF Amount paid thro earlier Employee PF Code and get New Code assigned from New Employee
Is the below Correct ?
As per Sec 69 of the PF Act, an employee who leaves the organization to join another establishment, he /she has to transfer her PF credentials with the new employer, which is what we are doing as per statutory compliances .
PF withdrawal can be done only when one is opting to either study abroad, overseas employment, commencing any business, where there are no case of any employment within India.
What are the options under which Section Employee can close and PF amounts paid thro earlier employee, immediately after resignation and joining new company wiht new PF Codes
regards
D Narasimhan
