You must Sign In to post a response.
  • Category: Indian Law

    Is it possible to get a Provident Fund settlement from PF Trust?


    Worried that your company's HR dept. is not settling your PF after you resigned from the job? Find out if there are any legal or other steps that you can take to get the Provident Fund settlement from the PF Trust.

    I am currently working in a demerged company which has been demerged into a new company in the month of February 2022. I received a transfer order due to the demerger activity in February month. In this current month, that is, March 2022, I have resigned from this company (which is demerged) by giving a 15-day notice. My company prior to February 2022 was depositing the PF money in their PF Trust. Now after the demerger, my company is depositing the PF money in EPFO.

    Coming to my point, I had requested my HR person to settle my PF, but he refused to do so, stating that the notice period for leaving the job should be 30 days instead of 15 days. He also escalated this matter to his senior HR officer.

    What should be my next step towards the PF settlement from the Trust? Is there any chance to get my PF?
  • Answers

    3 Answers found.
  • What are the terms and conditions of your employment? If you have to serve a notice period of 30 days you have to do that. Generally. if the notice period is not given, the company will cut wages for the notice period and settle the accounts. PF can't be stopped. Once you join the new company you can ask them to transfer the amount to your new account. You will have the option of withdrawal also. The employer will not have any right to hold your PF money. So you better contact a senior official in the HR department and ask him to do your full and final settlement. PF and gratuity are statutory requirements and under no condition do they stop that money.
    But it will not be settled before you get relieved from the company. If the company is trying to do any illegal things we can complain to EPFO and they will do the needful,
    Even you can proceed legally also after getting relieved.

    drrao
    always confident

  • PF is your accumulated reserve in the company which company has to pay to you in any case. Only thing is there is some formality and procedure to be adopted for its release. You have to comply with that. If they are insisting for a larger notice period and you could not do that then let them deduct your salary for the short falling days and that would settle the matter. If there is some mistake in the procedure then that does not mean that they would stop your PF amount. So talk to them politely and ask them all the options for early release of your PF amount.
    Provident amount of the employees is managed and monitored by the company as per the PF guidelines and company cannot do any wrong action in it. If the person goes to court to contest the wrong doing then the company would lose the case and the employee would be benefited. So there is nothing to worry and just talk to them in details and get the issue resolved.

    Knowledge is power.

  • There are two options for the same

    1. If you want to withdraw the amount
    You can withdraw the complete pf amount after your resignation acceptance and within 30 days you can get all refunds from the trust.

    2. If you want to transfer the entire amount of PF to EPFO
    You need to activate your UAN (Unique Account Number)
    Using UAN you can transfer the PF amount along with your service.


  • Sign In to post your comments