You can withdraw money from your PF Account by submitting a written request to your nearest Provident Fund Office.
Note: Your PF Account is not a bank account and you cannot withdraw money as and when you please. There are rules governing when and for what you can withdraw money from your PF corpus. Check out the related link to know when and for what you can withdraw money from your corpus.
There are rules surrounding when you can withdraw from your PF Account and how much you can withdraw. Check the link in the related links section for that.
To submit a withdrawal request, contact your employers finance department or visit the nearest regional PF office and submit a request.
There is no option to withdraw money from your PF for purchase of a Car
The best way to find out of one can withdraw their provident fund from MIBFA is to contact the source from which one opened the account. Another way to find out this answer might be to ask an accountant.
You can submit a written request for withdrawal to your employee or your regional provident fund office. Remember: You can withdraw only a portion of your PF balance if you are employed. Only if you are currently not employed, the PF amount would be settled in full.
Yes, the interest paid by provident fund will fall into riba category
I doubt that it is related to your EPF (employee provident fund). So money is debited to the bank account which you would have asked to debit your provident fund money.
If you are currently employed - you cannot withdraw your pf money from your previous employer. You can only get it transferred. Withdrawal is only permitted if you are going to be unemployed for a period of at least 3 months after leaving a current job
Yes you can. To know more details of when and how much you can, check the related links.
If one has no job for at least 2 months, one can withdraw from provident fund. To do so, a declaration is required, stating the reason for leaving the job.
Central Provident Fund was created in 1955.
There is no such thing as an Unrecognized provident fund. The rate of interest on provident fund in India is 8.6% per year
Provident Fund is a portion of our salary that our employer deducts every month. This money is remitted to the government of India's PF trust. This money is used by our government for its cash needs. Once we retire or close our PF account, the money that has accumulated against our name would be given back to us. The money in our PF account grows at the rate of 8.5% per annum compounded every year.Yes it is an asset for you and you have all rights to ask your provident fund balance.
When you reach retirement age or when you resign