EPFO has made a special rule for the employees, in which now even after the account is closed, the employees will get the interest received in EPFO, which will greatly benefit the employees, let us know.
Crores of account holders are connected under the Employees Provident Fund Organization (EPFO) in the country. Employees are given interest every year under PF account. Right now 8.1 percent interest is being given by the Central Government (Central Employees). Interest money is released only under those accounts which are currently active (epfo login), but do you know that even if your EPF account is deactivated, it will earn interest?
Before knowing about this, you should know about EPF. EPF Account ie PF account is opened for employed people, on which equal contribution is made from both the company and the employee. Interest is given to the government on the money deposited in it. Money can be withdrawn from the EPF account at the time of emergency. However, if you do not withdraw money from this account in between, then at the time of retirement you can raise a good fund.
Will interest be given on closed PF account also ?
If you are an EPF account holder, then you will be given interest every year. Although a decision was taken in FY 2013 that if a member has not contributed to EPF for three years, then his interest money should be withheld, but this decision was withdrawn in 2016. This means that interest will be paid on all accounts.
When and how interest will not be available in EPF account
If the entire money has been withdrawn from the account and it is not being used then interest will not be paid on it. On the other hand, even if the retirement period of EPF account has been completed, interest will not be given. Also, the age of the account holders is 58 years and the balance of EPF has not been calculated for a long time, then the amount of interest will not be given.
