When you transfer the account to the PF account, you cannot transfer the pension money. Apart from this, there is also a separate rule for withdrawing pension money, on the basis of which pension fund can be withdrawn.
An amount is deducted in the form of PF from the salary of the salaried people. It is both investment and saving for the employees. The special thing about PF is that not only do customers get good returns in this, along with this, this fund can also be withdrawn if needed. But, there are many rules related to PF, which very few people know about and when they do PF withdrawal, they can get into trouble.
In such a situation, today we are telling you about a rule, due to which you will be able to withdraw the full amount of PF, otherwise you can get very difficult. If this rule is not taken care of, the entire amount of PF account cannot be withdrawn. Let us know what that rule is and how you can take care of it.
Actually, when you do a private job, you keep changing your job. In such a situation, multiple accounts are created from one UAN and it is necessary to merge them among themselves. With this, you transfer all your money in one account and when you withdraw money from PF account, you do not face any problem. Also, you can withdraw your money in one lump sum.
What is the special rule?
But, when transferring money from one account to another, the entire money is not transferred to the account. In this situation, only EPF money can be transferred, while pension fund money is not transferred. The EPFO has also given this information on the official account and said, ‘While transferring PF from one account to another, the share of the employee and the employer is transferred. However, the pension contribution is kept in the EPFO office till the PF holder becomes eligible for it.
@socialepfo I have an query regarding pf.
If employee transfer PF from old organization to new organization then pension amount is not transfer to new organization.
Then how we can claim pension contribution in old organization?
— Aman Kumar (@AmanKum78252582) August 3, 2021
Can’t even withdraw pension fund
There are two types of money deposited in PF fund, one is EPF and the other is pension fund. In this, EPF can be withdrawn on many occasions, in which there are many conditions like marriage, medical, education, building a house. But the pension fund is available only after retirement except on some occasions. If you also want to withdraw pension fund, then you are required to have 6 months while working, that is, it is necessary to have at least 6 months to open your pension fund. You can apply for pension fund once after 6 months of opening the PF account. Apart from this, you can withdraw this fund only for 10 years.
For example, suppose you are going to have 10 years while working or opening a PF account, then you can withdraw it till the age of 10 years. After 10 years, a pension certificate is issued regarding the pension fund, for which there are different rules.
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