EPFO Rules: Even after leaving the job, your PF account remains on and interest is received on the deposit amount. You can easily withdraw money from EPFO’s online claim process. The current interest on this investment is getting 8.25% from the government.
Pf rules after job: Have you left the job, but your PF account is still on and money is lying in it? Many people think that the interest received on the PF account will stop as soon as they leave the job. But the reality is slightly different from this. According to EPFO’s rules, even if you leave the job, your PF account does not stop and interest is received on the deposit amount. Let us know in detail how long and on what conditions this interest continues …
How long will the interest be available on PF account?
According to EPFO’s rule, even if you quit the job at the age of 40 or 45 years and not withdraw your PF money yet, you will still get interest on your account till the age of 58 years. That is, your PF money will continue to work for you for a long time, even if you are away from your job.
Do you get interest even after retirement on PF?
According to the rule, if you do not withdraw PF’s money immediately when you reach the age of 58, then EPFO will continue to pay you interest for the next 3 years (for 61 years). After 61 years your account will be deactivated, it does not mean that the money will go away, just the interest will stop getting the interest.
How to withdraw PF money?
- Go to the official website of EPFO and login UAN.
- Update KYC.
- Go to online services and click on Claim (Form-31, 19, 10C).
- Verify your bank account.
- Choose the cause of viage, such as retirement, buying home, medical or others
- Crude and submit with OTP.
- In 7-8 days, money will be credited to your bank account.
What are the big benefits of EPFO?
- The money deposited in the EPF is a safe and reliable investment.
- The government interest rate currently gives 8.25% good returns compared to any other safe investment.
- Even after leaving the job, this money keeps working for you for a long time.
Also read- Can you take EPFO pension even before retirement, know 7 conditions
Also read- EPFO’s new rule: Now create PF account yourself, know the full process to create UAN