How to shift the Provident fund account to another company?

Question

I am changing my company. i want to change my provident fund account to my new company. how to do that?

Answer 1

Well ask for the PF transfer form from your new company and get that signed by authorised signatory in your previous company and hand it over back to your new company HR

Answer 2

Originally the PPF PUBLIC PROVIDENT FUND meant a direct deduction from pay that would go to the special fund. Then was brought in CONTRIBUTORY PROVIDENT FUND, wherein there is a certain percentage that is cut from the employees pay that goes into the fund and there is an equal contribution from the employer. The purpose of both is that it holds money in safest method of deposit though the interest as return is not that high. It enabled the contributor to take loans and repayments were not levied enormous interest rates. This assisted the average man for whom running the family was a big burden. Also, investment in this acount was exempted from taxation. Then came the time to think of those who are not in India but who have income sources in India. they can deposit any specific amount of their choice each year to keep the account active. These non-residents will be taxed if the income gnerated wihtin India is above the cut- off mark for taxes. This is a good place to invest to avoid taxes. There is PRovident Fund acounts set-up in SBI as well. Not just established by employers or companies In any case there is no cheque facility given but only a passbook to show record of debits and credits and interest. A savings bank account is that which is opened in banks, post offices and instruments are given called cheques that will let you take out, deposit or transfer money from your personal account. A pass book will be issued to let you view all ur transactions While in a savings bank account you can withdraw after a deposit with no waiting period, in a PF account, there is a wait for a specific period initially before you can take money but this is considered as a loan. And if you wish you can put back the money. In a savings bank account you do not need to put backt he money that you have withdrawn

Answer 3

Your previous employer will give you a form. Fill that and after around 2 months your PF will be transferred

Answer 4

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