Dear Dheerpet,
Tough times come in the life of all human beings irrespective of their financial positions. I made the suggestion for continuation of old PF account because it saves your contributions to pension account and length of service which ultimately decides the amount of pension when one retires. Closure of PF account before retirement results in loss of pension contributions & length of service. This can be prevented to some extent if the employee resign after more than 10 year service but before attaining age of 50 years;by obtaining scheme certificate. Continuation of old PF account through out the entire career is the best solution. Change any number of employer but continue the same PF account. Breaks in between are immaterial. Thanks & regards, Shyam Agrawal
Tough times come in the life of all human beings irrespective of their financial positions. I made the suggestion for continuation of old PF account because it saves your contributions to pension account and length of service which ultimately decides the amount of pension when one retires. Closure of PF account before retirement results in loss of pension contributions & length of service. This can be prevented to some extent if the employee resign after more than 10 year service but before attaining age of 50 years;by obtaining scheme certificate. Continuation of old PF account through out the entire career is the best solution. Change any number of employer but continue the same PF account. Breaks in between are immaterial. Thanks & regards, Shyam Agrawal