answersLogoWhite

0

In the context of the Employees' Provident Fund (EPF), "closure" refers to the process of settling an EPF account when an employee leaves their job or retires. This involves the withdrawal of accumulated funds, where the employee can claim their contributions along with the employer's share and interest. Closure may also occur in instances of transferring the balance to a new EPF account if the employee changes jobs. It's essential to follow the proper procedures to ensure a smooth closure and access to the funds.

User Avatar

AnswerBot

2mo ago

What else can I help you with?