How To Transfer Provident Fund (PF) Balance With Previous Employer To New Employer
Employees’ Provident Fund Organization or EPFO, the nodal agency that monitors Employees’ Provident Fund contributions, allows the subscriber – or employees of an organisation of 20 or more individuals – to transfer provident fund (PF) balance with the previous employer to a new employer. In online transfer of PF, an employee has the option to get the claim attested by the previous employer. EPF is a government-run pension scheme in which mandatory contribution is deducted from the salary of an employee and contributed towards the provident fund.
Here are the steps to transfer provident fund with the previous employer to new employer:
- The EPF member is required to log on to the EPFO members’ portal using Universal Account Number (UAN) and password. The UAN is an identification number mentioned in the monthly salary slip of an employee. (Also read: How To Check PF Balance)
- The subscriber is then required to go to ‘Online Services’ tab on the main menu of the home page and select ‘Transfer Request’ to generate an online transfer request.
- On clicking the ‘Transfer Request’, a page will open, where all the personal details of employee are shown.
- User is required to verify all the personal details like EPF number, date of birth, date of joining, among others.
- After this, the subscriber must select the option of the previous account that needs to be transferred and then click on submit.
- An OTP is then sent to the registered mobile number. Once authentication is done by the OTP, the request is submitted and an online filled-in form is generated.
- User is required to sign the form and send it to the previous employer.
- The employer also gets an online notification about the EPF transfer request. After verification of the employment details, the employer can digitally forward the claim to the EPFO office.
- EPFO will, hence, process the claim. One can check the status of the EPF transfer claim under the ‘Track Claim Status’ menu, which is under the ‘Online Services’ menu.
- Using EPFO’s online facility, members can also apply for PF final settlement, pension withdrawal benefit and PF partial withdrawal. However, to avail the online facility, the EPFO subscribers need to fulfil certain requirements.