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Have you worked in more than one establishments where you have maintained provident fund accounts? Have you kept the amounts lying in your PF account with the earlier establishments without transferring the PF funds to the present employer? If so, you should shed your inertia and consolidate all accounts by merging them. The Employees’ Provident Fund Organisation (EPFO) has advised subscribers to merge all their accounts to reduce the tax incidence in the case of early withdrawals of funds. “The total service in the present establishment, as well as previous establishments, is counted and therefore it is advisable to merge all PF accounts,” EPFO has said while issuing new composite claim forms to facilitate withdrawals.
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