PF interest after leaving company and starting own firm

This query is : Resolved

som (Querist)
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05 December 2023 Hi,

I worked as an employee for more than a decade and my PF account has accumulated some fund. I left the organization and started my start up firm (Pvt ltd) around 3 years back.

1. AS AN EMPLOYEE of previous firm --
a. My PF amount is still there and it earned interest till few months back but now it is not earning any interest. There is a PF rule in that regard.

2. AS AN EMPLOYER of current start up firm --
a. My firm has PF number (it was mandatory to take during registration) but we are only 2 people (my and my partner) and we do not pay ourselves any salary. Naturally, there is no PF contribution.

Now, if I start paying myself salary and start contributing minimum PF to myself, will that RESTART the interest payment to my accumulated fund as well?

Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
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19 January 2024 Yes, EPF interest will be credited to an account even when there is no contribution for 3 years. Thus, if your EPF account has no contribution due to unemployment or Non-Resident Indian (NRI) status, you will get the interest for 3 consecutive years from the stopping of contribution.

https://cleartax.in/s/epf-interest-rate