POSTED BY November 4, 2011 12:51 pm COMMENTS (2)ON
Dear Mr Manish
First of all, I would like to Thank You for providing good financial solutions to Investors. Its a great job. Regarding my doubt is concerned:
One of my colleague recently shifted his job from ‘X’ organisation to ‘Y’ organisation in the same city. Both orgnaisations are big companies and are paying PF to employees. He worked for about 9 years in the first company and got his PF regularly.
Now, the ‘Y’ has opened a new PF account on his name. He wanted to transfer PF funds from first company to the second one. Its a good idea. But, the problem here is very much different from regular users:
The first company did not relieve him from the job even after completion of mandatory 60 day notice period and kept him on the Rolls of the company and paid him salary, PF, HRA etc. even after he left the company.
Meanwhile, he has joined the second company and this company promptly paid him salary, PF, HRA etc from the date of joining itself.
So, this gentleman benefited salary, PF, HRA etc from both the companies for about 7 days of time. The overlapping period is about 7 days.
Now, when he wanted transfer the PF amount from First Company to Second Company (both are in same city), he is facing problem in Date of Relieving from First one and Date of Joining in second one.
My Doubt and questions are:
(1) As per Law, Is it possible for any person work as full time employees in 2 different organisations at the same time?
(2) As per Law, can any person get PF from 2 different companies for the same period?
(3) Can this gentleman get his PF transferred from first organisation to second, without any problem (pl. remember his employment was overlapping with both companies for a period of 7 days)?
(4) If his PF transferred, is it considered as continuous PF contribution?
Kindly try to answer to the questions and clarify our doubts.
Thanks in advance for answering.