EPFO Membership Update : Hello friends, if you are also working in this present time, then it is obvious that your PF account must be open, every month the contribution amount from you and the company is deposited in the PF account. Even after changing the job, the PF account remains active.
At the same time, a part of the salary received from other organizations starts getting added to the PF account. Many times, there is a situation when the job continues and the money remains deposited in the PF account. Then a big question arises that if the account is active, will interest be provided on the money deposited in the PF account?
Friends, some rules have been laid down by EPFO. And some conditions have also been laid down. It is important for you to know about them so that there is no problem in future.
As per the rules prescribed, interest is paid on the amount deposited. PF account is operated by every EPFO institution under the Ministry of Labor and Employment of the Government of India.
Rules for EPFO members
The Employees Provident Fund Organization has given a very important news regarding EPF membership on the official portal. I would like to tell you that as per the information given by the official portal of EPFO, there is no restriction on EPF membership.
Even after leaving the company, you can continue your membership through EPFO. But if all your money stops coming into your PF account, then after some time interest on the account will stop.
When does interest stop accruing?
Under EPFO Membership Update, we are going to give a very important information here. I would like to tell you that the information has been given by the Employees Provident Fund Organization.
According to this, if any member is not making any contribution to the PF account, then after about 3 years of this happening, the interest rate that was being given on this PF account will stop being given.
How much money can you withdraw if you are unemployed
I would like to tell you here that PF account is like a very good financial plan for the future. Every month 12% of the employees’ salary is contributed to this account and the same amount is contributed by the contributing company as well.
A good interest rate is also given by the government in the PF account. Through this, you will be able to deposit a good fund for the future. If a person loses his job and becomes unemployed, then in this situation he will be able to withdraw his money easily.
This unemployed person can withdraw up to 75% of the amount deposited. If he has been unemployed for 2 months or more, then he will be able to withdraw the entire amount.
