Inoperative EPF accounts to get 8.8% interest
Mumbai – The labour ministry has okayed the proposal to give 8.8% interest on the inoperative Employees Provident Fund accounts. Earlier, the EPF accounts in which no amount was deposited from 36 months were not given interest rates. But now these accounts will also get the interest till the employee does not withdraw the money or starts job at any other place. His account will be transferred on getting a new job. The account holders can deposit the amount till the time he wants. The government will pay interest on the inoperative EPF accounts until money is withdrawn from these accounts.