Dear All,
With this Amendment, a new sub-paragraph (6) is being inserted in the PF Scheme. According to this new sub-paragraph (6), the interest declared by the central government from time to time for the year payable on the amount in a member's PF account shall not be payable or credited in the case of an Inoperative Account.
An Inoperative Account refers to accounts that are dormant (members have left and have not yet withdrawn the PF amount), or where no regular contributions are being paid due to resignation or termination.
In the second part, only two phrases in sub-paragraph (6) under paragraph 72 are being substituted with new phrases. In simple terms, the phrase "but no application for withdrawal under paragraph 69 or 70, or transfer as the case may be has been preferred" is being used instead of the earlier words "but no claim has been preferred." Additionally, the words "thirty-six months" should be read instead of "three years."
With the Second Amendment, Municipal Councils and Municipal Corporations with 20 or more employees shall now be covered by the PF Act.
I hope this clarifies all your doubts and helps you better understand.