Should i transfer PF money to new account or withdraw it?

I have worked for 16 months in a firm, then joined Patni. Which one is advisable, transfering to a new PF acc or withdrawing it? I checked their website and found following statement Superannuation/retirement pension under the new scheme will be payable on fulfilling:- Minimum 10 years eligible service and Attaining age of 58 years. Will i get pension if i quit working after 10 yrs? Is it so that if i quit before 10 yrs, I wont be eligible to get pension after 58? Is 58 yrs minimum age to get pension?|||withdrawal is best they are paying only a paltry interest @8.5 % for deposits of say 20 years or so


it is a waste|||Its always preferable to transfer your PF rather than withdrawing. Also, you need not do much for PF transfer as your new organization Finance department would take care of it.





To answer your further questions, I would recommend consulting your CA as he is the best person for all your financial queries.|||Dear Radhika,





Transferring funds to a new EPF a/c is always suggested. Yes you will get pension if you quit working after 10 yrs. in a same organization and be in a job till a age of 58? Yes, 58 yrs minimum age to get pension.|||Lots of questions !





Best for you will be - meet your HRD chief or Taxation person in your company. Seek some quality time with them. Discuss all your worries about these matters with them. They are the best people to know what suits people in their company.|||Theoretically transfer is a better option, but many practical problems arise while transfer. It is always better to withdraw if your PF is not administered under trust, otherwise they shall deduct tax @ 30%|||transfering to a new PF account is advisable.





eligibility - 10 years





you will definately get pension from the age of 58|||Withdrawal is best for you.