Closure of EPF account voluntarily, is it possible?

POSTED BY vinodray parmar ON June 25, 2014 5:58 pm COMMENTS (2)

Presently I am working as Professor with an SFI Degree Engineering College near Vadodara, since September 2002. During  mid-March, I had to undergo an orthopaedic surgery. I am still on leave, on LWP basis. I may need another 2-3 months (LWP only) for getting fully recovered.

During mid-May, suddenly I received a threatening show cause notice from my Principal of College stating that my behaviour is not good and my working as  University Examination Coordinator is poor. Hence why your services should not be terminated. I was given just 7 days’ time to defend myself.

I have already given my explanation at length which the College has received  within time limit.  It is three weeks now, there no communication from College side. I had requested that let me be relieved on health ground instead of on some irrelevant disciplinary grounds as till today I have not received any warning letter about my behaviour and there no complaint from University for which I work as Exam Coordinator.

I am about to complete 60 years in July 2014. The retirement age for Professor is 62 years. At present I am not receiving any salary since March-mid.  Still I may need another 2-3 months to get fully recovered. At present I am financially not sound.Even paying fees ( Rs. 3 lacs) for my son studying in Final Year B.E. is great worry for me. Also to maintain my family has become difficult. Almost all savings, whatever small I had, is about be over.

If I resign, College will ask me to serve three months notice period or pay three months notice pay. Both are not possible for me at present. If they relieve me on health ground I don’t mind. Atleast my P.F. account will be closed and I can use that money for my son’s future study and maintain my family till he is employed.

Now there is a dead-lock. They are keeping silent on my explanation letter. Because I don’t get salary, no PF is being deposited and it will not be deposited till I join. I am both physically and financially handicapped now. If my PF account is not being credited any PF from college, can it be considered as closed and can I withdraw money from PF account? Is there any letter required from employer to close the PF account under such abnormal condition? As I am not going to complete 10 years even on super annuation,  I will not be eligible for pension from EPF. Can I request EPF authorities to voluntarily close my PF account on my request, so that I can use that money during coming days to survive me and  my family and support my son for higher studies.  As I have not completed 7 years, I can not withdraw money to pay fees for my son. When can I withdraw 90% of my PF balance if my superannuation  occurs in July 2016? My birth date is 20-07-1954.

Sir kindly guide me and Oblige.

 

Prof. V. P. Parmar.

2 replies on this article “Closure of EPF account voluntarily, is it possible?”

  1. roshan says:

    Hello Professor,
    It is sad to read the situation you are in. I wish you good health and pray that you get your job back

    With Regards to withdrawing pf i think you can withdraw some amount partially for medical expenses (https://www.jagoinvestor.com/2014/02/withdraw-from-epf-account-for-buying-house-marriage-education-and-medical-treatment.html)

    Regards

  2. Kshitij_Peter says:

    Haven’t you complete almost 11.5 years since you joined in 2002?

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