Hi,
What happens to Superannuation scheme if employee resign from a company? What are the option to transfer Superannuation funds to?
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If an employee resigns from a company and moves to another company, he can transfer his superannuation fund to the new company if the new company is having approved superannuation fund. Superannuation withdrawal on resignation in India can happen only in case, new company does not provide this facility. In such case employee can withdraw the amount with necessary taxes applicable or retain the amount in the fund till the retirement.
Transfer of funds from your PF or Superannuation to NPS can be done only once for tax exemption benefit. Read here …
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