PF know the rules 2021

By | July 16, 2021

Good news for working,be,even after leaving the job are getting interest for 3 years on the money of your PF know the rules

job, leaving 36 months or up to 3 years Interest on PF account

let it merged with thePF old account after joining the new company

working Good news for: Even after leaving the job your PF money continues to earn interest for 3 years, know the rule

3 hours ago

36 months after leaving the job i.e. for 3 years you get interest on the PF account

after joining a new company merging the PF with the old account Let

people always withdraw all money from their Employees Provident Fund (EPF) after leaving the job. But did you know that withdrawing all the money from the PF account can hurt you? It replenishes the funds and savings created for your future. As well as the pension is also closed. So merge the PF with the old account after joining the new company. Even after retirement, if you don’t need money, let PF stay for a few years. At present, EPF is earning 8.5 per cent interest.

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Find out what happens to your PF account and the amount deposited in it after leaving the job.

The PF account earns interest even after leaving the jobto the

Accordingexpert, even if the employee leaves the job or is fired for any reason, you can keep your PF for a few years. If you don’t need PF money, don’t withdraw it immediately. The PF continues to earn interest even after leaving the job and can be transferred to a new company as soon as the new job is found. PF can be merged into a new company.

The company offers this facility for three years

. Interest is earned on PF account for 36 months after leaving the job i.e. for 3 years. Here you need to know that the employee’s PF account is placed in the category of inactive account if no contribution is made for the first 36 months. In such a case, to keep your account active, you have to withdraw a certain amount three years in advance.

Under the current rules, if an employee retires at the age of 55 and does not apply for withdrawal within 36 months, his account will be deactivated. Simply put, after leaving the company, the PF account continues to earn interest. And it doesn’t stay dormant until the age of 55.

Interest earned on PF amount is taxable. As

per the rules, PF account is not inactivated on non-contribution, but interest earned in the meantime is taxed. If the PF account is not claimed even after it is inactivated, the amount goes to the Senior Citizen Welfare Fund.

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