What happens to PF if it is neither withdrawn nor transferred. I mean will the interest continue to get creditted to PF accounts as many year as possible if no transaction is taking place.
Regards
Vidya
From India, Delhi
2Regards
Vidya
From India, Delhi
you will get interest on the rate 9.5% but ecently there is a amendment in pf board that after 3 year if there is no transaction is not happen in pf amount then after three year no interest will be calculat on pf
From India, New Delhi
From India, New Delhi
1. Interest decided by Central PF Trustees for 2010-11 is 9.5%. Before that the interest rate was 8.5%.
2. The dis allowing of interest accumulation for the inoperative accounts from the 37th month onwards will come into force w.e.f 01.04.2011.
Abbas.P.S
From India, Bangalore
2. The dis allowing of interest accumulation for the inoperative accounts from the 37th month onwards will come into force w.e.f 01.04.2011.
Abbas.P.S
From India, Bangalore
Dear friends,
Please find below an ammendment to EPF Scheme, which states that interest shall not be credited to the account from the day it has become inoperative account.
Please find below an ammendment to EPF Scheme, which states that interest shall not be credited to the account from the day it has become inoperative account.
Employees' Provident Funds (Amendment) Scheme, 2011
1. (1) This Scheme may be called the Employees' Provident Funds (Amendment) Scheme, 2011.
(2) It shall come into force from the 1st day of April, 2011.
2. In the Employees' Provident Funds Scheme, 1952, (hereinafter referred to as the said Scheme), in paragraph 60, after sub-paragraph (5), the following sub-paragraph shall be substituted, namely :--
"(6) Interest shall not be credited to the account of a member from the date on which it has become Inoperative Account, under the provisions of sub-paragraph (6) of paragraph 72."
3. In the said Scheme, in paragraph 72, in sub-paragraph (6):--
(a) for the words "but no claim has been preferred" the words "but no application for withdrawal under paragraphs 69 or 70 or transfer, as the case may be has been preferred " shall be substituted;
(b) for the words "three years", at both the places where they occur, the words "thirty six months" shall be substituted.
[F. No. S-35012/01/2010-SS-II]
S.K. DEV VERMAN, Jt. Secy
S.K. DEV VERMAN, Jt. Secy
Hi You may not get interest on your pf accumulation wef 1/4/11 if there are no transations in your pf account. It is better to get it transferred or withdraw. regds jmraju
From India, Bangalore
From India, Bangalore
Hello Everyone
I have some Quries Abt PF Withdrawal ,I Was Working with one of the Leading Insurance company on the role full time employee,i left tat company after 8 months,then i have used the same PF no in other company also,i worked there for 7 months ,then i went to 3rd company along with the same PF No ,I left tat company after 2 years,Now they are saying tat u'll get only this company PF,Not the Previeous Co's ,cos they have created new PF A/c no here ,Now wat should i do to Withdraw the Ammount ,Pls Help
From India, Pune
I have some Quries Abt PF Withdrawal ,I Was Working with one of the Leading Insurance company on the role full time employee,i left tat company after 8 months,then i have used the same PF no in other company also,i worked there for 7 months ,then i went to 3rd company along with the same PF No ,I left tat company after 2 years,Now they are saying tat u'll get only this company PF,Not the Previeous Co's ,cos they have created new PF A/c no here ,Now wat should i do to Withdraw the Ammount ,Pls Help
From India, Pune
dear Muralidharon As per epf instruction that it is the employer wish not to deduct the epf if a new employee salary is above 6500/- basic. thanks & rgds satyendra kashyap 9868276030
From India, Delhi
From India, Delhi
Dear all, I want to some information that what is process of change signing authority of epf???????? AJAY
From India, Delhi
From India, Delhi
Dear Harshalwani,
please clear that when you switch to new company everytime you have to get sign on form 13 of current employer and deposit it to epf department for the epf amt of last company a/c transferred into new company;s epf a/c. If you do so than your all epf account will club together and you get the whole amount on withdrawal.
From India, New Delhi
please clear that when you switch to new company everytime you have to get sign on form 13 of current employer and deposit it to epf department for the epf amt of last company a/c transferred into new company;s epf a/c. If you do so than your all epf account will club together and you get the whole amount on withdrawal.
From India, New Delhi
Dear Abbas,
I left my company on 01/12/2005 and my PF account was inoperative with them since then. Now, because of this PF rule change w.e.f 1/4/2015. Should I expect to get interest till 1/4/2011 or till 01/12/2008 or till 01/04/2014?
can you please provide some details on what should happen in this situation.
-Thanks,
Naveen.
From United States, Plano
I left my company on 01/12/2005 and my PF account was inoperative with them since then. Now, because of this PF rule change w.e.f 1/4/2015. Should I expect to get interest till 1/4/2011 or till 01/12/2008 or till 01/04/2014?
can you please provide some details on what should happen in this situation.
-Thanks,
Naveen.
From United States, Plano
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Provident fund.zip
PROVIDENT FUND.rar
PROVIDENT FUND.doc