The money stay with the Employees’ Provident Fund Organisation (EPFO) under your former employer’s account if you don’t withdraw them after quitting your job or transfer them from your prior employer to your current employer. There may be several ramifications from this. First of all, if you move jobs regularly, it’s possible that you may eventually lose track of your total PF balance. Second, the account may be subject to rules or problems issued by the EPFO if it is dormant (inactive) for a lengthy period of time.

Furthermore, failing to transfer your PF may result in you losing out on possible interest payments on such assets. Annual interest is accrued on EPFO accounts, and you will not receive compound interest if you leave your PF with a former employer. To simplify and actively manage your retirement savings in line with your financial objectives, it is essential to combine your PF accounts by moving them to your current workplace or, if needed, choosing to take a withdrawal.