About the Employee Pension Scheme?

Dear Sir/Madam,
I was working in Mumbai with a MNC company since last 3 Yrs, but now I have left it and joined a new company new New Delhi and I don’t want to continue my past PF account here.
Now my issue is only this that how I can get my money back which my past employer has contributed as employee pension scheme
I am looking for your reply.

Harish Choudhary

[email protected]

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2 Replies to “About the Employee Pension Scheme?”

  1. I do not know the laws of India but in the US the money that you and your employer contributed to your pension has to be given to you when you quit or are fired or you can roll it over into an IRA. Not giving you the money is a criminal offense.

  2. Because of the tax concessions that are usually granted, by governments, on pension contributions , restrictions are placed on the access that you have to those funds.After all , their purpose was to provide you with a pension when you retire, and not as a simple tax efficient saving scheme. So although these (pension)funds remain yours ,normally all you can do is transfer them to other schemes etc., until you retire.
    You should write to your former employer –either the Personnel Dept., or Chairman of the Pension Trustees ,and ask about the options available to you , re transfers etc. It would also be useful asking your current employer for advice on this too.

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