I was working with State Co-Opeartive bank for almost four years till 14-feb-2017, now i have been selected in higher education department , In last four years i have saving of Rs 1.5 Lakhs in PF account including my share and employers share , as i wish to withdraw the same , the bank is paying me only half of the amount vix Rs 75000 stating that i have rendered less than 5 years of service . Is this the law or it has been modified kindly clear the same
There is no such rule on this earth that if your service is less than 5 years, then your EPF withdrawal will be half of your balance. They are cheating you. Also, it is not under their control to pay half or full. But EPFO will pay to YOU. In my view, I doubt that they not deposited the money EPFO. Whether they provided your EPFO number? If so, then raise the complaint against your employer in EPFO using EPFO Grievance Cell online.