Thursday, August 27, 2009

Provident fund


We all have to make a compulsory contribution to the provident fund, but keeping track of it with changing jobs really become a pain. Rules also change with time, earlier there you need to have a new account with every company, and then it was that you can have the same account when you move across organizations. What makes it more complex that big organizations have their own provident fund collection and management, i.e. TCS and Bennett and Coleman.

I need to solve this mess for me, and probably then i might have my answers..

1 comment:

Pankaj Jaju said...

Its not "compulsory" ... I don't pay any PF in ION.

On changing jobs ... you can either withdraw (will be taxed) or can get it transferred to the new a/c (real pain in the arse).

PPF sounds good ... SBI/PNB (govt PSUs) seems the safest bets for it.