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Should one transfer or close an EPF?

Should one transfer or close an EPF?
It is always better to transfer the account rather than closing. After it is our saving which will help us in times of providence.

What if the company is closed or if the employer refuses to cooperate?

If the company is closed and the employer is either not traceable or refused to sign the subscriber to the fund can still submit his claim for settlement through other means.

It is the duty of the employer under the Act & Scheme to help Employees' Provident Fund organisation to settle the Provident Fund dues of his employees. He has to complete the prescribed application within 5 days of receipt [para72(5)] forms & hand over it to the member when he leaves the service.

When a member finds it difficult to get the form attested by the employer, he can get the attestation of any of the following officer & send to the Provident Fund office: Manager of a bank.

By any gazetted officer. Member of the Central Board of Trustees./ committee/ Regional Committee (Employees' Provident Fund Organization). Magistrate/ Post/ Sub Post Master/ President of Village Panchayat/ Notary Public.

Read more about: epf
Story first published: Saturday, April 6, 2013, 11:22 [IST]
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