You can either get the old account transferred to the new a/c created after rejoining and get the total benefits (Form 13 for transferring and Form 19, 10c for final settlement) or claim separately. In the second case the withdrawal benefits might decrease due to rounding off of total service. If you get the accumulations transferred address proof may not be required since your date of leaving in this case is taken as dec 2012. Address proof is required only in cases where the member left service before 3 years(The account gets converted to unclaimed deposit account). Different regions insist upon different ID proof. But generally Voter ID/passport/ration card is valid. If your ex employer is okay with sending forms through courier there should be no problem. So my advice is submit form 13 to transfer the old accumulation to new account and form19, 10c for final settlement simultaneously. Pl don't forget to mention your old a/c number& date of joining, leaving in form 19 too. So that they won't settle the new account by oversight.
You can get your e pass book downloaded to know the balance of your pf by visiting the epfo website. I heard this news recently. Am I correct?
Yes. You can down the e-passbook from EPFO webiste with one time registration. You can get even free SMS for available balance inquiry from EPFO website.
hi, I am working in IT. . Now i am leaving my current company of 6 years and joining another firm. What is the best option - to close PF and create a new PF account and use that amount to close my personal loan which is at a interest rate of 14 as PF gives only 8.5% or continue the old PF in my new organisation? And how does it affect my pension?
PF is different and Pension is different. If Personal loan is burden for you , you can withdraw PF amount and close the Personal, which is 5% more interest rate. But, PF cumulative money and interest will give very good advantages during the retirement. I can suggest, if its very much required, with draw the PF amount and close the Personal loan. Open One PPF account and do SIP format investment , which is equal to your PF amount at your convenient times. If you are continuously served 6 yrs in the same organization, You get gratuity . you will get it in 3 months after leaving the present company. Utilize that money to close your personal loan.
Thanks Vemala for answering my question, Can you also let me know soemthing about pension. On what basis do we get pension? As in IT we keep changing jobs...
Anjelin, IT people doesn't get pension. you have to plan for your retirement. Plan for PPF, mutual funds, term plans and etc. Recently introduced NPS is also good scheme, but lot of money will go for dead money (which u cant withdraw in critical times). Ex: Current expenses is 50K/month, with 6% inflation, after 20yrs, it will become approx 95K. So you need to generate the revenues for 90k at the retirement. It depends on the expenses during the retirement also. Thanks
On my PF slip, i see the below: Member Contribution: 1819 Employer Contribution:1278 EPS: 541 EPS stands for pension??
