Earlier when an employee changes her/his job from one company to another, it used to take almost more than a month to transfer the PF account from old employer to new employer. But now it’s just a thing of few minutes and your PF account gets transferred to your new employer within some minutes. You do not have to rush here and there and your work will be hassle-free. All the credit goes to the technology which has provided us with the internet facility. And through EPFO your PF account gets transferred easily from old company’s employer to new company’s employer.
Now we have talked so much about transferring your PF account from one employee to another but the question comes how exactly it is done. What are the steps or actions one must take to transfer the provident fund account from old employer to new employer? We will tell you everything in detailed manner. Just keep going through our article and you will get to know each and every single thing.
Transfer PF online
Every employee has two options:
- First option is that being an employee you can close your previous provident fund account and can access all new provident fund account in the new company.
- The other option is that you can transfer your previous or old PF account from your previous employer to your current employer.
According to us you should always go with the second option because it is really very convenient and at the same time less time-consuming. On the other hand going with the first option includes so much of paperwork and burden and is super time consuming.
A self service online portal has been introduced by the EPFO through which an employee can easily transfer her/his provident fund account.
“One Employee – One EPF Account” is an initiative by the EPFO. The main aim or goal of introducing this facility is to handle and view many PF accounts along with the facility of transferring the balance of the PF from old employer to the recent employer. You can do it through linking it by the UAN number.
The other motive of this initiative is to delete or remove multiple provident fund accounts. PF number and UAN are allotted to every employee individually and are visible on the salary receipt. For knowing more about how to transfer the PF balance from the old employer to the new employer keep on reading.
Step by Step Guide: How to transfer PF online using UAN
Here we are, with all the information that will help you in transferring your PF balance. First of all you are required to have your UAN number. Without UAN number you can proceed or start the transferring process. Now many of you might be thinking about what UAN is. UAN is termed as universal Account Number. It is a 12 digits long unique code which is provided to an employee by her/his very first employer. If you have UAN code well and good and if not then for getting UAN being an employee you can directly ask your employer to activate your UAN. And after the activation of the UAN by the employer you can easily access all the information related to your EPF account and can easily transfer your PF balance from old company to the current company. Below are the steps you need to follow, go down and just go through the steps!
Given steps are required to be followed to transfer PF online
- First go to theofficial website of EPFOand login to your online PF account based on your UAN.
- A page will appear on your screen where you will have to enter your UAN along with the registered mobile number. You will also be required to fill other details such as your current employer, account number, establishment number etc.
- After doing the above step, you will have to verify whether your PF account is eligible for transferring through the EPFO website. Now on this page you need to type the location (state) of your previous employer and search it by name or the establishment number from the drop-down menu.
- After that check eligibility after entering up your details.
- Now if you found your account to be eligible, then you can go ahead by simply registering yourself for the same on the online portal of EPFO.
- After registration, you need to submit a valid photo ID proof such as Aadhaar Card, Passport, Driving Licence, or PAN Card.
- After that, you will receive a PIN on your mobile phone for the verification.
- Enter that PIN for successful verification.
- And after the successful verification, this will redirect you to EPFO Member Claims Portal and there you will have to provide a documentation ID and your phone number to sign in.
- Once you are done signing up, you will see all the available options.
- Select and click on “Transfer Request” from the top tabs.
- After that you have to fill the PF transfer form, which usually has three parts: First part includes your personal information and stuff in which you have to enter your name, salary account number, email ID and your bank’s IFSC code. In the second part, you have to enter your old provident fund account details. And at last in the third part, you need to type your current provident fund account details.
Note: You can get this claim attested either by your old employer or your recent employer. It might take some minutes to do it at their end.
- Once you are done with filling up your form, click on “Preview” to verify your details.
- Then enter the Captcha code and get the PIN. After that click on “I Agree”.
- Doing the above step the claim transfer gets initiated. And you are done!
By properly following the given steps you can easily transfer your provident fund account balance from your old company to your new company.
Some of the frequently asked questions:
- How much time will it take to transfer the PF online?
Because of the online portal facility now, it takes around 15 to 30 days to transfer the PF amount from one employer to another.
- Can I have two PF account?
The answer is yes, you can have more than one PF account.