If you lose your job and the money isn't being deposited into your PF account, will all your money be lost?

Sometimes we lose our jobs, and sometimes we have to leave them for personal reasons. In such a situation, the biggest fear is what will happen to our PF account, will the money we've had deducted from our salary for years be lost?

These days, the world of employment is facing numerous challenges. Sometimes a company closes, sometimes we lose our jobs, and sometimes we have to leave our jobs for some reason. In such a situation, the biggest fear is what will happen to our PF account, will the money we've had deducted from our salary for years be lost? If you have such questions, let us tell you today what will happen to your PF account and the money deposited in it if you lose your job or leave it yourself.

Does the money deposited in a PF account get lost?

If you've lost your job and your EPF account isn't receiving any new monthly deposits, there's no need to worry. Your money is completely safe. The EPF Organization (EPFO) rules state that even if contributions aren't made to an account for a period of time, the deposits remain there, neither disappearing nor wiping out. Even if you leave your job and no new contributions are made, interest continues to accrue on your old balance for the first three years.

When does a PF account become inactive?

If no new contributions are made to an account for three consecutive years, the EPFO ​​considers the account inactive. This means that interest will no longer accrue, but your principal and all interest earned remain safe. You can withdraw funds whenever you wish. Furthermore, according to EPF rules, if you've been unemployed for more than two months, you're entitled to withdraw a portion or all of your money.

Always keep your KYC and Aadhaar updated.

Many people don't update their KYC on their old accounts, making it difficult to withdraw funds later. Therefore, always keep your Aadhaar number, bank account, PAN card, and mobile number updated in your EPF account. If you have multiple PF accounts, merge them into one. You can easily do this through the EPFO ​​website or the Umang app. This will not only make it easier to monitor interest and balance, but will also reduce any future claims.