Dear All,
I have a querry related to PF, If an employee is a member of PF scheme changed his name, What to do in this case.
Like what are the process & forms one has to fill for the same to change his name in account.
Secondly, In case if an employee resigned & will not withdraw his provident Fund i.e. it remain unclaimed. Whether they get interest on this amount every year.
Regards
Ranjeet
From India, New Delhi
11I have a querry related to PF, If an employee is a member of PF scheme changed his name, What to do in this case.
Like what are the process & forms one has to fill for the same to change his name in account.
Secondly, In case if an employee resigned & will not withdraw his provident Fund i.e. it remain unclaimed. Whether they get interest on this amount every year.
Regards
Ranjeet
From India, New Delhi
For name change there seems to be no separate form under EPF Act. Therefore, he has to apply for changing name through the employer with relevant proof, viz, gazette notification. He has to send a revised nomination form (EPF form 2) also.
If a resigned person is not transferring his PF account to his new account or is not withdrawing his accumulations, he will get interest yearly but if the account remains inoperative for more than 36 months, he will lose getting interest for the period which exceeded three years.
Regards,
Madhu.T.K
From India, Kannur
If a resigned person is not transferring his PF account to his new account or is not withdrawing his accumulations, he will get interest yearly but if the account remains inoperative for more than 36 months, he will lose getting interest for the period which exceeded three years.
Regards,
Madhu.T.K
From India, Kannur
[QUOTE=Shilpi Chowdhury;1544834]
Dear Mr. Madhu T.K.,
Thanks for providing such knowledgeable information on New Name in PF & amount.
Also, please advise who is going to pay the interest, whether the organization or the PF office??? How much interest would get to the Left emp.???
From India, Delhi
Dear Mr. Madhu T.K.,
Thanks for providing such knowledgeable information on New Name in PF & amount.
Also, please advise who is going to pay the interest, whether the organization or the PF office??? How much interest would get to the Left emp.???
From India, Delhi
The rate of interest is subject to change and the present rate is 9.5%. In case of left employee also the same rate of interest is applicable. However, if the account is remaining inoperative for more than 36 months, he ceases to get interest for the period beyond 36 months.
Regards,
Madhu.T.K
From India, Kannur
Regards,
Madhu.T.K
From India, Kannur
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HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls