Chennai-based Sudarshan Jain was in for a shock when he checked his Employee Provident Fund passbook in August this year. “EPFO considers the previous year's declared rate of interest to process the claim. If the present year rate of interest is higher than the previous year, to that extent, member will be in loss of interest," he said. If EPFO …
Provident Fund is mainly considered as a retirement-oriented investment option, which is mandatory for an employee. However, due to the lack of Universal Account Number or UAN and PF account number and some formalities required for transfer of the EPF account, it has been found that employees don't transfer their previous EPF account to the new place of work. In …
