PF Account- Big news for PF account holders. Employee Provident Fund (EPF) is a reliable savings scheme for people working in the private sector . It helps a lot after retirement. The money deposited in EPF is tax exempted and also gives good interest. If you have changed jobs and have not transferred your old EPF account to the new company, then you will have this question in your mind whether interest will be available on the old EPF account or not? What happens when you do not transfer your EPF account?

When you change jobs, your EPF account is not automatically transferred to the new company. For this, you have to start the transfer process from the EPFO ​​​​Member Service Port. Until you do this, your money remains in the old EPF account. Your Universal Account Number (UAN) remains the same, but the account is not transferred. Many times people postpone or forget this work. They think that interest will continue to be received on the money in the old EPF account.

The answer is yes, but you will not get it forever. According to EPFO ​​rules, if your EPF account is dormant, then it gets interest for 36 months i.e. 3 years. This interest is calculated from the last EPF contribution. If no contribution is made for 36 months and the employee is no longer working (i.e., has retired or left the job), then the account becomes inactive. After this, interest stops being received.

Therefore, if you have not transferred your EPF account after changing jobs, you will get interest on the old account only for three years. After that interest will stop. This will cause you a loss, because the interest rate on EPF is good. For example, for the financial year 2024-25, EPFO ​​has approved an interest rate of 8.25%.

Suppose you changed jobs in 2020 and did not transfer your old EPF account. If you did nothing, that EPF account would have stopped earning interest by 2023. Your old balance is lying idle while your new company is contributing to a new EPF account. This results in you getting interest on a lower balance.