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Any employee in India receives a salary after the employer deducts a certain amount for EPF or Employee Provident Fund. The employee might change their job multiple times, and each time, they need to transfer their PF under the new employer. EPFO has made provisions online on their website that enables members to transfer their old PF account to the new one. Here, in this article, we will discuss how to transfer PF online along with eligibility and documentation requirements.
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What is The Need To Transfer PF Account?
Employee Provident Fund (EPF) is a retirement-oriented savings scheme mandatory for every employee. While switching jobs, most of the employees forget to transfer their PF account with the new employer. They leave this and open a new account with the new employer. As a result, multiple PF accounts are created. This is a mistake most of the employees make. They do not know that – money in the PF account with the previous employer may be taxable.
According to Employees Provident Fund Organisation (EPFO) regulations, every employee must transfer their PF account to the new recruiter. If an employee does not transfer their PF account after changing their job, the interest earned is taxable from the monthly PF contribution stops. As per the new regulations, the old PF account will continue to incur interest up to the age of 58 years of the EPF account holder, and however, the PF income will be taxable. On the other hand, employees who continue to maintain the same EPF account for more than 10 years become eligible for pension after they attain 58 years of age.
Additionally, employees can also withdraw their PF account balance while changing their job. However, this is not suggestible as the amount withdrawn (before completing 5 years of service) is taxable in the hands of the employee. This is exempted when the employee transfers his PF account from the old employer to the new one, and the PF balance remains tax-free. Therefore, it is always advisable to transfer the PF account rather than opening a new one as it helps accumulate a corpus for retirement. Also, the interest earned is compounded. This helps the employee earn more when they transfer their PF account.
Who is Eligible To Transfer EPF Account?
The following are the eligibility conditions to transfer EPF account from old to the new one –
- Firstly, the employee must activate his UAN on the EPFO portal.
- Employees should submit bank details like account number and IFSC code, and the same should be verified by the employer when making the transfer request.
- The employee must also have an Aadhaar Card, which has to be submitted to the UAN account.
- The date of joining (DOJ) and date of exit (DOE) should be mentioned, along with the reason for the exit.
- Against one member ID, EPFO accepts only one transfer request.
Documents Required to Transfer PF Online
The following are documents that the employee must keep ready to ease the process of transferring PF online.
- Identity Proof (PAN card/Aadhaar Card)
- Active UAN
- Current employer details
- Bank A/c number with IFSC code
- Establishment number
- Old and current PF account details
- Forms – PF transfer form and Form 13
The following are the points that the employee must ensure before applying for PF transfer online –
- UAN is active
- Registered mobile number must be active
- The bank account must be linked with UAN
- KYC must be verified with UAN
- PAN card must be linked with Aadhaar card
- Both current and previous employers must have registered authorized digital signatures.
- EPF number of both current and previous employers must be saved in the EPFO database.
EPF Form 13
EPF Form 13 is a transfer form, When you are changing jobs, you can transfer the PF balance to the new employer. As a result, you will have to fill the Form 13 and submit it to the employer.
While moving jobs, you have the following two options:
- You can withdraw your contribution if you are on a break for up to 60 days, or
- Transfer the PF balance to the current employer.
Having the PF balance intact will help in creating a large corpus towards retirement. Therefore, it is always advisable not to withdraw the amounts and transfer them to the new employer.
You can apply for a transfer either online or offline. You will have to log in to the EPFO member portal and raise a transfer claim for online submissions.
Download the Form 13 from the Official EPFO Website
How To Fill Form 13?
You can apply for a transfer either online or offline.
Offline
The transfer claim form has three parts to it. Following are the steps to fill the form offline:
- Address the form to the Regional PF Commissioner
- Office Name
- Office Address
- Part A: Personal Information
- Under the Part A of the form, you have to provide the following information:
- Name
- Father’s or Husband’s Name
- Mobile Number
- Email ID
- Bank Account Number
- IFSC Code of Bank Branch
- Part B: Details of Previous Account (Which is to be transferred)
- Under the Part B of the form, you have to provide the following information:
- PF Account Number or Pension Fund Account Number (As may be applicable)
- Name and Address of the Previous Establishment
- PF Account is held by (Name of EPF Office or PF Trust)
- Date of Birth
- Date of Joining
- Date of Leaving
- Part C: Details of Present Account
- Under the Part C of the form, you have to provide the following information:
- PF Account Number or Pension Fund Account Number (As may be applicable)
- Name and Address of the Previous Establishment
- PF Account is held by (Name of EPF Office or PF Trust)
- Date of Joining
- Name of Trust (to whom funds are to be paid in case of the present establishment being exempted under EPF Scheme, 1952)
- Employee Code Under the Trust
- Date and Signature of the Member
- Lastly, a verification from the previous employer or present employer verifying the above details. Date, Signature of the Previous Employer or Signature of the Present Employer and Seal of the Establishment.
Online
The following steps will help you apply for Transfer Claim online:
- Login to the Official EPFO Member portal using your UAN Number and Password.
- Under the ‘Online Services’ tab, select the ‘One Member – One EPF Account (Transfer Request)’ option.
- On the following page, you will have to verify the following information:
- Personal Information
- Name
- Mobile Number
- Email ID
- Bank Account Number
- IFSC
- Aadhaar Number
- Details of the present account into which transfer will be affected
- UAN
- PF Account Number
- Establishment Name
- Establishment Address
- Date of Joining
- PF Account Held By
- Member Name
- Date of Birth
- Father or Spouse Name
- Relationship
- Next, under the ‘Attestation through’ section, select ‘Previous Employer’.
- Enter the Member ID or UAN details and click on the ‘Get Details’ button.
- Once the previous employer details are shown, verify them and click on ‘Get OTP’ to proceed.
- Enter the OTP and submit to proceed.
- Fill in the required details in the form and submit.
- Upon successful submission, a tracking ID will be generated. You can use the tracking ID to keep track of the transfer process.
- Furthermore, you will have to get a print the form, sign and submit it to the employer within ten days.
- Both the previous and current employers will verify the details.
- Upon obtaining approval from both employers, the funds will be credited to the account number.
Steps to Transfer PF Online
Changing jobs can be easy while transferring the EPF can be difficult as it involves time and effort. To minimise this effort, the government has introduced online PF transfer. The following is the step by step process on how to transfer PF online –
Step 1: Login to the UAN portal with your credentials i.e. UAN and password.
Step 2: After logging in, go to ‘Online Services’ Tab and click on ‘One Member – One EPF Account (Transfer Request)’.
Step 3: Carefully verify your personal information and details of the present account into which transfer will be affected.
Step 4: Click on ‘Get Details’ to get the PF account details of the previous employment. Here, you have the option of choosing either the previous employer or present employer for attesting the claim form based on the availability of an authorised signatory holding DSC. Choose either of them and enter the member ID/ UAN.
Step 5: Once the employment details are verified, click on ‘Get OTP’. You will receive the OTP on the UAN registered mobile number. Enter the OTP in the provided box and click on ‘Submit’.
- The employer will digitally approve the EPF transfer request through the employer interface of the unified portal.
- A tracking ID is generated to keep track of the entire process.
- After completing the above process, you have to fill Form 13, which includes PF numbers from both current and previous organizations. Once the form is filled, it has to be submitted to the selected employer within a period of 10 days.
- Additionally, approval of both employers is required before funds are credited to the account number. Also, the employer has to verify the authenticity and signature of the employee.
Check Out EPF Withdrawal Online
How To Check PF Transfer Status?
There are two different ways to check the status of PF transfer –
Track Status through Member Claim Status Link
The following are the steps to check your status for PF transfer online –
- Firstly, you have to visit the EPFO portal. This is the employee’s page portal.
- Scroll down to the ‘Our Services’ section and click on ‘Know Your Claim Status’.
- You will be redirected to the page where you need to enter the UAN, password and captcha code. Click on ‘Login in’.
- After logging in, you will have to select the Member ID for the account you need to check the status.
- Then click on ‘View Claim Status’.
- Finally, the next screen will display your PF transfer status.
Track Status through EPFO portal
The following are the steps to check your status for PF transfer online –
- Firstly, You have to visit the EPFO portal.
- Here, you need to log in by entering your UAN, password and captcha code.
- After logging in, go to the ‘Online Services’ tab and click on Track Claim Status’.
- On the next screen that appears, click on ‘Transfer Claim Status’.
- Finally, the screen will display your PF transfer status.
So, if you are changing jobs, you can follow our complete guide for transferring funds to your PF account. It is important to keep this account intact as long as possible as it is an ideal way to save for your future, especially your post-retirement expenses.
Check Out EPF Form 2
Read also How to Change Mobile Number in EPFO?
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