There is a big update for more than 7 crore employees (EPFO Employees). In fact, soon the amount in the account of people working in the organized sector will increase. Interest transfer will be done for the financial year 2022 in the PF account of the employees. According to the same media report, the interest amount will be transferred to the PF account by the second week of September.
This time the interest is being paid by the government at the rate of 8.1%. However, this interest rate is the lowest in the last 40 years. Despite this, the employees have been waiting for the payment of PF for a long time. Meanwhile, EPFO has given big information. If the account holders want their entire interest amount in the account, then they have to take special care of some things. Otherwise, they may have to face loss in the amount of interest.
In fact, lakhs of employees working in the private sector change their jobs every few months. After joining a new job, employees open new PF accounts in the new company from their old UAN. In such a situation, the money of the new company comes in the account and the amount stops coming in the old PF account. In such a situation, the employees may have to bear the loss of interest amount due to not getting the account done.
In such a situation, EPFO has advised the employees to link all the accounts together. In doing so, interest can be paid on the amount collected in all the accounts. If the amount is more, the interest will also be higher.
PF account can be merged as soon as the UAN number is activated by the employees.
- To merge PF account, visit the official website of EPFO.
- Click on Services to login.
- Click on Apply 1 EPF Account
- a form will open
- Enter registered mobile number
- Enter the OTP number and the old PF account will be displayed as soon as you enter the OTP
- accept submit
- After sending the information, the account will be merged in a few days.