Dear friends, No interest will be provided on inoperative PF Accounts (i.e. accounts having no transactions for 3 years) from April 2011 onwards. Pl see attached circular on this issue. Regards,
From India, Malappuram
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1446From India, Malappuram
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Dear PCA,
Good post. This is a good move, trying to inculcate a saving habit. Three years can be termed as 1000+ days or 36 months. Considering the interest rate, is it not worth it to make at least one transaction in 3 years? Those who oppose this move are only paying lip service. Compare this with the bank's savings account - if there are no transactions for even one year, the account is frozen. Read their valid justifications. Make a decision based on a holistic view and long-term implications.
From India, Madras
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Good post. This is a good move, trying to inculcate a saving habit. Three years can be termed as 1000+ days or 36 months. Considering the interest rate, is it not worth it to make at least one transaction in 3 years? Those who oppose this move are only paying lip service. Compare this with the bank's savings account - if there are no transactions for even one year, the account is frozen. Read their valid justifications. Make a decision based on a holistic view and long-term implications.
From India, Madras
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EPFO Circular PF - Correction in Name.pdf