Dear All, I have a query related to PF. If an employee who is a member of the PF scheme changes his name, what should be done in this case? What are the processes and forms that need to be filled to change his name in the account?
Unclaimed Provident Fund
Secondly, in the case where an employee has resigned and will not withdraw his provident fund, i.e., it remains unclaimed, will they receive interest on this amount every year?
Regards,
Ranjeet
From India, New Delhi
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12Unclaimed Provident Fund
Secondly, in the case where an employee has resigned and will not withdraw his provident fund, i.e., it remains unclaimed, will they receive interest on this amount every year?
Regards,
Ranjeet
From India, New Delhi
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Name Change Process Under EPF Act
For a name change, there seems to be no separate form under the EPF Act. Therefore, one has to apply for changing the name through the employer with relevant proof, namely, a gazette notification. Additionally, a revised nomination form (EPF Form 2) must be sent.
Interest on Unclaimed Provident Fund
If a person who has resigned does not transfer their PF account to their new account or does not withdraw their accumulations, they will receive interest yearly. However, if the account remains inoperative for more than 36 months, they will stop receiving interest for the period exceeding three years.
Regards,
Madhu.T.K
From India, Kannur
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For a name change, there seems to be no separate form under the EPF Act. Therefore, one has to apply for changing the name through the employer with relevant proof, namely, a gazette notification. Additionally, a revised nomination form (EPF Form 2) must be sent.
Interest on Unclaimed Provident Fund
If a person who has resigned does not transfer their PF account to their new account or does not withdraw their accumulations, they will receive interest yearly. However, if the account remains inoperative for more than 36 months, they will stop receiving interest for the period exceeding three years.
Regards,
Madhu.T.K
From India, Kannur
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[QUOTE=Shilpi Chowdhury; 1544834] Dear Mr. Madhu T.K., Thanks for providing such knowledgeable information on the new name in PF and amount. Also, please advise who is going to pay the interest, whether the organization or the PF office? How much interest would the left employee get? Thank you.
From India, Delhi
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From India, Delhi
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PF interest is paid by the Employees Provident Fund organisation and not by the employer. Regards, Madhu.T.K
From India, Kannur
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From India, Kannur
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The rate of interest is subject to change, and the present rate is 9.5%. In the case of a former employee, the same rate of interest is applicable. However, if the account remains inoperative for more than 36 months, the individual ceases to receive interest for the period beyond 36 months.
Regards,
Madhu.T.K
From India, Kannur
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Regards,
Madhu.T.K
From India, Kannur
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Pf name & dob change letter format.doc
PF Circular - Change in Name.pdf