In case EPF balance has not been withdrawn from the existing account for a certain period, then stops earning interest. Thus, it makes sense to either withdraw or transfer the amount to a new account. Withdrawal is permitted only if an individual has been unemployed for at least 2 months. Also, withdrawing EPF balance within 5 years of continuous employment attracts tax. Transferring PF to the new account will ensure that there are enough savings which can be used at the time of retirement.