Hi team,
I had quit my job and it's been 1.6 years now. I have done nothing with respect to my EPF account. What would happen if I am not withdrawing my PF amount and the pension amount? Will there be any deductions if I don't withdraw the amount? Is there any limit to the withdrawal period? Kindly suggest the best choice. Note: I am not in need of liquid cash.
From India, Bengaluru
Acknowledge(0)
Amend(0)
1I had quit my job and it's been 1.6 years now. I have done nothing with respect to my EPF account. What would happen if I am not withdrawing my PF amount and the pension amount? Will there be any deductions if I don't withdraw the amount? Is there any limit to the withdrawal period? Kindly suggest the best choice. Note: I am not in need of liquid cash.
From India, Bengaluru
Acknowledge(0)Amend(0)
Dear sir, How long we can keep the PF account as a non operative? Is interest will be payable in my account during non operative? my PF is kept in Trust.
From India
Acknowledge(0)Amend(0)
From India
Acknowledge(0)Amend(0)
Earlier, after 36 months, it became non-operative, and interest was also not added. Now, it changes; interest will be payable. So, transfer the non-operative amount into the current account (UAN).
In my opinion, either transfer it into the current account or, if not planning to remain an employee in the future, then withdraw it.
From India, undefined
Acknowledge(2)Amend(0)
In my opinion, either transfer it into the current account or, if not planning to remain an employee in the future, then withdraw it.
From India, undefined
Acknowledge(2)Amend(0)
Inoperative Account Definition and Interest Policy
As per the amendment in November 2016, the definition of an inoperative account has changed. All accounts will receive interest except for inoperative accounts.
In-operative Account
From the date the amount is due for payment, if three years pass without the amount being withdrawn from EPFO or EPF Trust, the account will be treated as an inoperative account. For example, if a member retires at the age of 58 years and does not withdraw the PF amount, they will continue to earn interest up to age 61. After that, the amount will be transferred to an inoperative account, and no further interest will be earned. The account will remain in the EPF account until the age of 68 years, after which the amount will be transferred to the SCWF (Senior Citizen Welfare Fund). In the event of the member's death, the account will become inoperative three years after the date of death.
Thanks,
Vidyadhar Bhat
From India, Pune
Acknowledge(2)Amend(0)
As per the amendment in November 2016, the definition of an inoperative account has changed. All accounts will receive interest except for inoperative accounts.
In-operative Account
From the date the amount is due for payment, if three years pass without the amount being withdrawn from EPFO or EPF Trust, the account will be treated as an inoperative account. For example, if a member retires at the age of 58 years and does not withdraw the PF amount, they will continue to earn interest up to age 61. After that, the amount will be transferred to an inoperative account, and no further interest will be earned. The account will remain in the EPF account until the age of 68 years, after which the amount will be transferred to the SCWF (Senior Citizen Welfare Fund). In the event of the member's death, the account will become inoperative three years after the date of death.
Thanks,
Vidyadhar Bhat
From India, Pune
Acknowledge(2)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Early PF withdrawal won’t be easy.pdf
Guide Lines for PF Withdrawal.doc