What is Provident fund ?
The first question that arises in everyone’s mind is, what is the provident fund?
Provident Fund Organization made many new schemes for employees who change their work and later want to Claim their Funds.
There are many procedures to apply for a provident fund but the last date for registration and applying for a provident fund has been over it was over in last year, the 7th month. But new registration forms and new dates will be soon released.
More precisely A small amount deducted from your monthly salary, that will be collected and later refunded to you again is called a Provident Fund. You just need to fill up from 19 and 10C and give it to your Organization’s HR or any official to get your provident fund. So, that to make you understand easily. I will show you an example.
For example, a woman has been working in a private organization for 4 years; she left the job 4 months ago. Then, she goes to the HR officer of the organization and asks for her provident fund. Then she must simply follow a producer.
She needs to fill up the Provident Fund withdrawal form and gives that to the same HR officer of the organization. She also needs to give him a cross-check, because the HR officer should also recognize your bank and details so as to send your provident fund to your bank account directly. Another question that might arise is that. Will there be any problem if you give your Cross checks?
My answer is, there will be no problem in providing a cross-check to the HR of the organization. Because his motive is to, identify your bank and then send your estimated Provident fund.
What are the requirements for Provident Fund?
Here is the main point. There are a few important things that need to be considered to withdraw your provident fund.
1. You need to fill out Forms 19 and 10C.
2. Sometimes you may need to submit a cross-check
Or
3 . Photocopy of your passbook as proof of your account number
So there are only mandatory things, you need while you withdraw your Provident Fund.