EPFO: If you are working in the private sector and are changing the company, then in such a situation, you must transfer your EPF account. If you do not do this, then you may get cheated. At present, 8.25 percent interest has been fixed on EPF. There is no risk of any kind in this.
EPFO: If you are employed, then every month some part of your salary goes to the Employee Provident Fund (EPF). This money is deposited to make life secure after retirement. Tax exemption and interest is also good on the money deposited in EPF. If you have also changed your job in recent times and have not transferred your old EPF account to the new company, then you may get cheated. Actually, when you go to a new company, your old EPF account is not transferred automatically. For this, you have to go to the EPFO website yourself and transfer it.
If the account is not transferred, then the old account remains as it is. However, the Universal Account Number (UAN) remains the same. There is no change in it. Interest will continue to be received on the old EPF account, but this benefit is available only for a limited time. According to EPFO rules, if there is no contribution in an EPF account for 36 months i.e. 3 years. If the employee is not doing any work then the account is closed. In such a situation, interest stops getting. This will only cause loss to you. At present, 8.25 percent interest has been fixed on EPF. There is no risk of any kind in this.
Compounding growth, higher interest, and lifelong pension eligibility. Transfer your EPF balance today!#EPFOservices #EPFOwithYou #HumHainNaa #EPFO #EPF #ईपीएफओ #ईपीएफ #pfbalance pic.twitter.com/n88vj4Eb3d
— EPFO (@socialepfo) February 3, 2025
Keep these things in mind
Transfer your EPF account immediately after changing your job.
You can easily do this online by visiting the EPFO website using UAN and Aadhaar.
This will keep your money linked to one place and you will keep getting interest continuously.
Tax exemption is also available on EPF
The interest received from EPF is completely tax free, but there is a condition for this. If you deposit money in EPF continuously for five years and do not withdraw it, only then it remains tax free. If you withdraw the money before the completion of five years, then tax can be levied on the withdrawn amount. The Amount you withdraw is added to your annual income and tax has to be paid on it.
Most Read Articles:
- LIC New Service: Now pay your LIC policy premium through WhatsApp, know the step-by-step process here
- Airtel launched new cheapest recharge plan: You will get Unlimited calling facility for 365 days, check plan details
- Credit Card Link UPI: Link your credit card to UPI from home, know step-by-step guide
