There is a trend of changing jobs in the private sector in two to three years. But with the change of job, withdrawing the entire PF of the former company can be a loss-making deal for you. Due to this, the huge fund and savings being created for your future ends. Also, there is no continuity of pension. It would be better to join the new company or merge the pf with the old one. Even after retirement, if you do not need money, then you can leave PF for a few years.
According to experts, if the employees leave the job or they are fired due to some reason, you can still leave your PF for a few years. If you do not need PF money then do not withdraw it immediately. Interest accrues on PF even after leaving the job and can be transferred to a new company as soon as new employment is found. PF can be merged in new company.
Interest accrues for three years
If you do not withdraw PF money even after retirement, then interest continues for three years. It is considered a dormant account only after three years. Most of the people keep PF amount as a future safe fund.
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