Inoperative Accounts

I wish to post some brief which is interesting: Did you shift jobs a few years ago and neglect to transfer your EPF funds? Well, if procedural hassles or simply not knowing what to do, is your problem, you need to act fast. The Employees Provident Fund Organisation (EPFO) recently launched an online helpdesk to help members with such “dormant” accounts trace the unclaimed sums and either credit it to their current accounts or withdraw it. If you needed a harder push, note that in his recent Budget speech, Arun Jaitley has proposed to appropriate amounts lying dormant in both EPF and PPF (public provident fund) for the creation of a Senior Citizen Welfare Fund. Once these sums are appropriated for this purpose, you are unlikely to ever get it back. The EPF Procedure: An inoperative EPF account is one where there has been no contribution for a period of 36 months. No interest is paid on such dormant accounts. To reclaim money lying dormant in EPF accounts, you need to register for a Universal Account Number (UAN) with the EPFO if you don’t have one already. You can do this at uanmembers.epfoservices.in. Log into the EPFO website at www.epfindia.com. The facility to track down your EPF is available on the home page. The form you need to fill requires you to first describe the nature of the reasons behind your PF account being rendered inoperative and the help solicited from the EPFO. You then have to fill the details of your employment. This includes the establishment code (in case you don’t know it, rest assured; there is a facility to search for the code), your PF account number, the establishment’s name and address with all the related details. You should also provide details such as your date of joining and leaving and the name of the PF office where the contributions would have been made. You can leave fields blank if you don’t have the necessary information. Once done, you will receive a reference number, which you should note down. If your money is traced thereafter, the helpdesk will guide you on the way forward in transferring the amount lying in your inoperative account to your current one, or even withdraw the money using the relevant claim form. A representative from the EPFO will get in touch with you personally, and in the language of your choice to boot. The EPFO even has a web facility to help transfer old account dues to existing accounts. A few points are worth noting here. First, in order to get the benefit out of this facility, it’s essential that you provide correct contact details and email address and only your own mobile number. This last one is so that the EPFO may easily contact you. Second, in case there is no response on the registered mobile, the case will be closed. more  

No interest is payable after 3 years of last contribution. So instead of loosing interest he should immediately withdraw the same. more  

As far as of is concerned any one can draw their savings before their life gets to an end. It is his/her wish to continue the same to the best of my knowledge. This is subject to the correct of no, and pls ask ur friend to chk balance as on date. It is avbl online. more  

No interest is payable after 3 years, so he must withdraw. more  

He can withdraw online. more