Inoperative PF a/c to earn interest from 1st April
Dear members,
Retirement fund body EPFO decided to provide interest on inoperative provident fund accounts from 1st April 2016. This move will benefit over nine crore such account-holders, having total deposits of over Rs.32,000 crore.
The EPFO had stopped payment of interest to such accounts in April 2011 to discourage parking of funds in such dormant accounts.
This is for your information.
Thanking you,
With regards,
For Silvassa Industries & Manufacturers Association
Narendra Trivedi
Secretary
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