Crores of employees across the country have provident fund accounts. Every year some part of the salary is deducted and deposited in the provident fund account of the employees. The money deposited in the Provident Fund account serves to secure the future of the employees. In such a situation, you do not need to depend on any other person after retirement. It is a great investment option to secure the future. However, it is often seen that after changing jobs, people face many problems related to PF. Many times such a situation arises that after the closure of the previous company, the PF money gets stuck. In this episode, today we are going to tell you about the process, with the help of which you can withdraw the money stuck in PF after the closure of the previous company. Let's know -
The company you worked for. If it closes or you are not able to transfer that PF account to the new company. Apart from this, there is no transaction of any kind in your PF account for 36 months. In this situation the PF account becomes inactive.
In such a situation, you have to face many problems in withdrawing the money. The bank can help you out of this trouble. With the help of KYC, you can withdraw your PF money.
After getting approval from the bank, the Assistant Provident Fund Commissioner or other officers allow withdrawal or transfer from the account according to the money.
If the amount is more than 50 thousand rupees. In this situation, the money will be received after getting the permission of the Assistant Provident Fund Commissioner. If the amount is more than 25 thousand rupees and less than 50 thousand rupees. In such a situation the approval will be given by the Accounts Officer. At the same time, the dealing assistant will approve for less than 25 thousand.
(PC: iStock)
