EPF withdrawal norms
It was nice to hear that the government has pulled back the tightened withdrawal rules till 31st July 2016.
As per my understanding, EPF cannot be construed as a social security for the following reasons, although it is a statutory contribution for both employee and employer and the final accumulation belongs to the employee as it is part of the cost to company of each employee.
1) Many companies do not employ 20 employees and hence do not fall under EPF act.
2) EPF contribution is accumulated in various private EPF trusts and hence, the funds are not secured after the employee reaches 58 as there is very limited job security due to poor performances of many companies.
If we think of social security to our citizens, we can introduce mandatory insurance schemes, which can yield lump sum money after 58. more
As per my understanding, EPF cannot be construed as a social security for the following reasons, although it is a statutory contribution for both employee and employer and the final accumulation belongs to the employee as it is part of the cost to company of each employee.
1) Many companies do not employ 20 employees and hence do not fall under EPF act.
2) EPF contribution is accumulated in various private EPF trusts and hence, the funds are not secured after the employee reaches 58 as there is very limited job security due to poor performances of many companies.
If we think of social security to our citizens, we can introduce mandatory insurance schemes, which can yield lump sum money after 58. more
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Dear Team Can any one guide me if i wants to withdraw the PF do i need to claim it only by website of EPFO or  can i claim it manually also. Regards Bhawna Aneja Sent from Yahoo Mail on Android From:"Rajesh Iyer" Date:Thu, 21 Apr, 2016 at 7:27 AM Subject:New post "EPF withdrawal norms" in [myEPF] more
Apr 25
Dear Team Can any one guide me if i wants to withdraw the PF do i need to claim it only by website of EPFO or  can i claim it manually also. Regards Bhawna Aneja Sent from Yahoo Mail on Android From:"Rajesh Iyer" Date:Thu, 21 Apr, 2016 at 7:27 AM Subject:New post "EPF withdrawal norms" in [myEPF] more
Apr 25
I am currently based in US. I recently switched job from an India based company while being in US. While I was in India, I had EPF contribution in that company. Now that I have switched can someone please suggest what options I have to get my money. more
Apr 23
Insurance Companies pays very poor return. PF money should not be given to them. Today except LIC most of the private companies are incurring losses. Therefore it is a risk for employees of PF. Let PF department invest money in Govt.Securities. more
Apr 22
Yes, Umesh ji that is the best scheme but our leaders who are running after black money will never permit such scheme to come into being. more
Apr 21
