EPF Query India?

Question

Earlier i was working for a Bangalore Based company and i have a PF account in Banagalore. Now i have shifted to New Delhi and my new employer had opened a new PF account in delhi. So now i have 2 PF accounts. I want to Know which one is better option:-
a) Should i close my account in Bangalore and withdraw my money.
b) Should i take Scheme Certificate. (By the way i could not understand what is Scheme certificate and what are its benifits.)
OR is there any other option in front of me.

Answer 1

There is 2 options.
1. One of the withdrawn ur Bangalore PF Account ( It's Only after 2 months of previous company leaving)
2. Second one you please give your previous Pf account number to current employer than it will be transfer to your new account
Thanks

Answer 2

EPF is a central Goverment. So, their is no question of benefits in the states.

Instead of withdrawing the amount, you can inform to your present employer to get transfer of your account to your new account. so that you will have single account.

And you can also have a benefit of pension if you are continuing you services without withdrawing the amount for 10 yrs.

You will receive the compound interest of the amount which is lying the PF A/c. of 9%, if you think in any other savings you wont get such an opportunity.

I suggest you to transfer and avail some benefits from your account.

Answer 3

best solution is to transfer the Bangloure EPF A/c to New Delhi EPF A/c, you can enjoy service continuvity benefit .
1 when you close your Ist A/c you got money but pension fund money widrawal only 6 months completed employees.
2 sheme certificate is best for continuing and enjoy service benefits.