I am in a serious doubt regarding interest rules of Inoperative PF Accounts.
One of my previous organizations has an exempted PF Trust. I left the organization on 30-Sep-2008.
I have NOT wihtdrawn or transfer the PF.
My question is very simple. TILL WHICH DATE SHOULD I GET INTEREST IN THIS ACCOUNT?
To my knowledge it should be till 30-Sep-2011 but my employer has stopped giving interest from April, 2011 onwards.
From India, Mumbai
1One of my previous organizations has an exempted PF Trust. I left the organization on 30-Sep-2008.
I have NOT wihtdrawn or transfer the PF.
My question is very simple. TILL WHICH DATE SHOULD I GET INTEREST IN THIS ACCOUNT?
To my knowledge it should be till 30-Sep-2011 but my employer has stopped giving interest from April, 2011 onwards.
From India, Mumbai
Hello,
I have a smilar query. I have worked for 4.5 years in a company and this is my first company, I have resigned now. I am taking a break in my career for approx 1-2 years.
Can I leave my PF amount in the PF account, during the period when I am not working. Is that okay to not withdraw PF amount even when I am not employed ?
If assuming it is okay to leave the PF account, will my PF account be still earning any interest on deposited amount ?
Please help me.
From India, Bangalore
I have a smilar query. I have worked for 4.5 years in a company and this is my first company, I have resigned now. I am taking a break in my career for approx 1-2 years.
Can I leave my PF amount in the PF account, during the period when I am not working. Is that okay to not withdraw PF amount even when I am not employed ?
If assuming it is okay to leave the PF account, will my PF account be still earning any interest on deposited amount ?
Please help me.
From India, Bangalore
Hi
w.e.f. 1st April, 2011 no interest shall be paid on inoperative accounts.
An inoperative account is one in which there is no contribution paid for three preceding years. The members should either transfer the account to new establishment or opt for withdrawal.
Regards,
Swapnil
From India, Pune
w.e.f. 1st April, 2011 no interest shall be paid on inoperative accounts.
An inoperative account is one in which there is no contribution paid for three preceding years. The members should either transfer the account to new establishment or opt for withdrawal.
Regards,
Swapnil
From India, Pune
Dear All. Plz. find herewith attached EPFO circular related to inoperative accounts will help you Regards Amit Trada 9712343947 Surat_Gujarat
From India, Ahmadabad
From India, Ahmadabad
:) though post is old, the FINANCIAL YEAR is til APRIL 2011 (ie march-april cycle) so interest will be only till 31st April 2011 (notification date re 3 years limit for interest).........
rgds
ds
attribution https://www.citehr.com/386181-intere...#ixzz34JSa6mLl
From India, Delhi
rgds
ds
attribution https://www.citehr.com/386181-intere...#ixzz34JSa6mLl
From India, Delhi
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.
Circular on PF Damage & Interest Calculations.pd f
Copy of PF Interest calculator.xls