What is scheme certificate?

Provident Fund withdrawal scheme certificate?

• Hi Everybody, I worked for 4 years in an Indian IT company. Now since i relocated to some company outside india permanently, I cannot transfer my PF to a new account. I have three options now : 1. Withdraw the money 2. leave it as such - (would it generate interest when left as such?) 3. get is as scheme certificate - (dont understand the use of this) Which option is really smart? i am pretty confused.. So, could somebody please tell me what is the best option for me? If i dont withdraw the money now, would it still generate better interest than fixed deposit? Thanks a lot in advance..

• Answer:

  Pension Scheme Certificate is issued to certify your total length of salary and last salary withdraw. It is only issued in lieu of your Pension amount not PF. Formalities to withdraw, transfer or taking scheme certificate are same. You can surrender your scheme certificate at any EPF Office and get your pension amount. There is no interest on pension now or then. For more details check Provident Fund Act at http://www.providentfundstatus.org/2012/01/provident-fund-act.html Good Luck...