Are you letting your provident fund do its job?
By transferring your Employees’ Provident Fund account and refraining from withdrawals every time you shift jobs, you can build your retirement funds. If you must take out the money, however, here’s how to go about it
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Extremely useful article. However, there is a third scenario which could also have been tackled in this story. Take my example: When I moved from my first job, the HR people at my new workplace strongly advised me against holding on to the old PF account & had me fill a form to open a new one instead. While the first organization accepted my withdrawal form & paid off my accumulated PF, the second organization took ages submitting the application for a new account. With the result that, when I quit the new job (within 6 months - it wasn't working out), they had still not opened a PF account in my name in spite of deducting the PF amount from my salary each month. It's been a year since then & I still have no clue how to recover that money. Any suggestions on this?
Manisha