Understanding PF Withdrawals: Why Keeping Your Account Active is a Smart Move

Hi Fellow Members,

I have been noticing a lot of queries arising on PF and the ways to settle or withdraw our money from it. I thought the document that is attached with this should be able to clarify a lot of our doubts regarding PF. Hope this is of benefit to one and all.

While the attached document explains the ways to withdraw money from your PF account, let me advise our young members to resist the urge to settle the PF account as it's a blind saving for us which would, to some extent, take care of our retired life. Moreover, our government also gives a simple interest of around 8% per annum for the fund available in the account, which is a competitive financial instrument today for safe savings.

So don't settle your PF accounts and keep transferring your account. Happy savings!!

Regards,
Muthukumar K

Oh! I am happy that I am of some use to the forum. Thank you both, and I have been watching both your contributions to this forum, and they are tremendous.

Warm Regards and Happy Deepavali!!

Muthukumar K

Hi,

I just wanted to know if there is a maximum deadline for claiming PF from the previous employer. I have heard from someone that the maximum deadline is 5 years. If PF is not withdrawn within 5 years of changing the job or service, then the EPF office transfers the money to the military fund. Is that true?

Appreciate your swift response.

Regards,