superannuation bonding period

Dear Pankaj, Can you provide any guideline for how many number of years you need to work in the same company to get the superannuatopn amount. As per my current employer policy you need to spend minimum 5 yrs in company after the training period to get your amount back.Is their any government guideline for this time period or it is company dependent?

Thanks a lot

asked May 31 '11 at 19:42 by Rajiv 1446


Superannuation is an employee's contribution. When ever he leaves the particular organization, he can withdraw the amount.

answered Jun 01 '11 at 03:17 by pankaj 5.2k320

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But in my organisation if someone leaves the job before 5 yrs he dont get the money. Tell me what to do for getting the superannuation amount.They invested the amount in ICICI's scheme and dont give it before 5 yrs.
(Jun 01 '11 at 22:05) Rajiv
As per ICICI brochure (http://www.iciciprulife.com/public/Brochures/Superannuation.pdf): In the event of leaving service of an employer, the employee normally has the option to either transfer the money to approved superannuation fund of the new employer or leave the money with the trust and purchase annuity on reaching normal retirement date or purchase an immediate annuity. All these will be subject to the provisions of the rules of the scheme, approval of the Income Tax authorities.
(Jun 02 '11 at 12:28) pankaj

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Asked: May 31 '11 at 19:42

Seen: 1,114 times

Last updated: Jun 02 '11 at 12:28