From 3684d31d7810ddd44bb0b38aaa809ef560c357cf Mon Sep 17 00:00:00 2001 From: Vipin Ajayakumar Date: Tue, 8 Oct 2024 21:51:19 +0100 Subject: [PATCH] Add warning regarding interest stoppage which is not confirmed --- src/content/blog/epf-withdrawal-nri.mdx | 13 +++++++++---- 1 file changed, 9 insertions(+), 4 deletions(-) diff --git a/src/content/blog/epf-withdrawal-nri.mdx b/src/content/blog/epf-withdrawal-nri.mdx index 43af600..b519b4b 100644 --- a/src/content/blog/epf-withdrawal-nri.mdx +++ b/src/content/blog/epf-withdrawal-nri.mdx @@ -46,7 +46,14 @@ The government adds interest every year - 8.25% in 2024 [[cleartax: EPF Interest Rate 2024](https://cleartax.in/s/epf-interest-rate)]. Over several years, you can build a significant amount of savings in your EPF. -## After three years of no contributions, interest stops accruing +## After three years of no contributions, interest stops accruing (unconfirmed) + + + *Updated on 2024-10-08* - The FAQs referred to here do contradict themselves. It may not + be true that the EPF stops earning interest after three years of no contributions. I have not found + a credible, authoritative reference to confirm either way. Therefore, + I recommend that you do your own research. + The FAQs, quoted below, imply that three years after you leave your job in India, the EPF account becomes inoperative and stops earning interest. At that point, you are @@ -209,9 +216,7 @@ In our case it took 11 days, slightly longer than the 3 working days the SMS had ## Conclusion The process of withdrawing the EPF as an NRI was not as straightforward as we had hoped, -but we're glad it's behind us now. It's worthwhile to withdraw your EPF within -three years of leaving your job in India at which point it stops paying interest. -The process may differ slightly for you depending on your +but we're glad it's behind us now. The process may differ slightly for you depending on your circumstances, but I hope this guide helps. Feel free to leave any feedback or questions in the comments section.