Interest on inoperative account
May I know, if inoperative PF accounts are given interest like active accounts?
I'm caught in a situation that if I wait for five years (from the time of opening PF account) to withdraw the amount, I'll loose interest if inoperative accounts are not given interest. And, if I withdraw earlier, income tax (TDS) will be deducted. more
I'm caught in a situation that if I wait for five years (from the time of opening PF account) to withdraw the amount, I'll loose interest if inoperative accounts are not given interest. And, if I withdraw earlier, income tax (TDS) will be deducted. more
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Ideally it is advisable to transfer from one EPF to other EPF so that both EPF and FPF gets transferred. Even it is a non operative accounts I am sure interests are paid. more
May 14
Dear Udaya You are only talking bout your EPF. please pay attention to your pension fund (FPF) contribution. more
May 14
Already crediting interest to the so called inoperative account has been approved by the Trustees of EPFO. Notification may take some time as it has to go to law ministry. more
May 11
Hi Piyush, Thanks for the update. If the candidate is in job for 1.5 years, there would be contribution / credits to the PF account only for 1.5 years. Do you mean TDS would be deducted even if the candidate withdraws the amount after 5 years (from the time the account is opened)? more
May 11
1. TDS is deducted only if your service period was less than 5 years and has nothing to do with the waiting period. Earlier there was no interest being given on the inoperative accounts but according to a recent announcement, from April 2016, all inoperative accounts will also get interest. more
May 11
