Recently I took VRS from public sector bank and balance available from my contribution to PF is continued with the bank at my request. This was done as the interest on PF is at a higher rate and also tax free (correct me if I am wrong). Now I understand that there is a new rule for PF in such cases where there is no addition by way of contribution to this balance then from next financial year bank shall not pay interest for the balance retained with them. Is this true ? kindly clarify....
thanks in advance
thanks in advance