Understanding the Latest PF Circular: What Does It Mean for You?

Dear All, please find attached a circular from PF for your kind reference.

Regards

Dear all, please check if any friends are not claiming their inoperative A/C. Please tell them they will receive the PF amount with interest.

One of my colleagues has applied for a transfer four to five times since 2004, but to date, his PF has not been transferred. Since the interest rule for non-operative accounts for the last three years came up in April 2011, he has been losing around Rs. 90,000 to Rs. 1,00,000 - STRANGE. He retired on 16th July 2012. Now the problem is, he cannot claim his PF dues as the transfer has not been done to date, and he is losing interest amount from 1st April 2011 to date.

Can anyone help us in this regard?

Regards,
grettapl