If the transaction is not done for three years, then the old PF account is considered inactive. In such a situation, it takes a lot of effort to withdraw money from an inactive account.
After changing the job, the person should get his PF account shifted from the old company to the new company, but many times people open a new account with the change of company. A new UAN number is generated from the new PF account. In such a situation, there is no transaction in the old PF account. If the transaction is not done for three years, then the old PF account is considered inactive. In such a situation, it takes a lot of effort to withdraw money from an inactive account. If something like this has happened to you too, then there is no need to worry, let us tell you what is the reason for deactivation of PF account? Can it be made active again and how to withdraw money from inactive account?
Account becomes inactive due to these reasons
If there is no transaction in your PF account, then your account is put in the inactive category.
If the account holder permanently settles abroad, then the account is considered inactive.
If the account holder dies, his account is closed.
Even if the EPFO member has withdrawn all the money from the account, his account is considered closed.
Can be active again
It is not that once your account has been deactivated, it cannot be activated. If you want to activate it again, then you have to apply for it in the office of EPFO. However, even after the account is closed, interest continues to accrue on your money. That is, your money does not sink, you get it.
How to withdraw money from inactive account
To settle the claim related to Inactive PF account, it is necessary that the employer of the employee should certify that claim. But the employees whose company has been closed and there is no one to certify the claim, then the bank will certify such claim on the basis of KYC documents. In the KYC documents, you may need PAN Card, Voter ID, Passport, Ration Card, Aadhar Card, ESI Identity Card and Driving License.
Get their approval
If the amount exceeds 50 thousand rupees, the money will be withdrawn or transferred after the approval of the Assistant Provident Fund Commissioner. Similarly, if the amount is more than 25 thousand rupees and less than 50 thousand rupees, the account officer will be able to approve the fund transfer or withdrawal. If the amount is less than 25 thousand rupees, then the dealing assistant will be able to approve it.
