Your PF

Every time that you change your company, the HR will give you the document to withdraw the money or transfer it to the next company that you join. And we being we, the urge is to withdraw it, considering the fact that you are so pressed for clearing that long pending credit card bill, which has already absorbed huge amount in the form of 33% interest. Definitely, it makes more sense to clear off the high interest rates debts with these amounts which barely give 9% interest.
But hold on. Though the urge is there to withdraw and I know, almost everyone has immediate needs. But just make sure to keep the money handy for your retired life. Remember, now, you have a source of income and the PF money is meant to take care of you when you dont earn. Please remember that you dont earn a pension like our parents did, when worked for an government organisation. Yes, those are the perks that they enjoy , and we will not be.

So , in short, once you join your new company, please transfer the money to your new PF account in the new company. From what I last remember, the interest will be paid on only one PF account. So if you havent transfered it, there is quite a bit of chance that there will be no accumulation of the interest. But I am not sure, how the PF department finds out that, one has more than one account. Nevertheless, its our job to make sure, we have only one account.

Also, if you still dont have PPF account (Public provident fund), please open one. You can invest there as less as 2000 per year. And that account will earn a good return at the rate of 8 or 9% interest(the rates keep changing). There amounts are exempted from tax under section 80ccc. This is a great way to accumulate the funds for your retirement and also have the freedom to invest as per the comfort level.