You can easily transfer EPF online on the EPFO portal, which you may need to do if you switch jobs. If required, your employer will register you on the Employees Provident Fund Organisation (EPFO) portal. As per the regulations, both you and the employer contribute to your account to build a corpus for retirement.
While you can withdraw the EPF amount, opting for a provident fund transfer is always better to build a substantial corpus for retirement.
To know how to transfer EPF online and why it is significant, read on.
Why Should You Choose EPF Transfer Instead of Withdrawal?
These are a few crucial points that you must be aware of:
- When you are employed by a PF-registered employer, the company will open your Employee Provident Fund account
- Both you and the employer contribute 10-12% of your gross salary into this account, which earns interest
- This helps you accumulate funds, which you can use during retirement or during other times of need
However, when you leave a job, you have two options:
- Withdraw the EPF amount and close your account if you have not been employed after 60 days of leaving the previous job
- Carry out the provident fund transfer online, retain your EPF membership and transfer the funds to an EPF account with the new employer
Retaining your EPF membership by transferring it is advisable because:
- It allows you to build a good corpus for the future
- You will have to pay the tax deducted at source (TDS) if you withdraw the EPF amount without completing 5 years of service with the current employer
Also Read: Check your EPF Balance Online
Prerequisites for EPF Transfer
To transfer EPF online, you need to complete these prerequisites:
- Your Universal Account Number (UAN) and mobile number must be linked with the EPFO’s Unified portal
- For raising transfer claims, your Bank account number and IFSC code must also be seeded against the UAN Seeding Aadhaar Card number
- You must have verified KYC details
- The current and new employer must have signed your transfer application
- The EPFO data should have the EPF account numbers of both the current and new employer
- You need to fill in the personal details and PF account details in the portal correctly
- You can only carry out one transfer request per previous member ID
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Online EPF Transfer Procedure
Follow these simple steps to transfer EPF online:
- Step 1: Visit the EPFO’s Unified portal and log in using your credentials
- Step 2: Go to the ‘Online Services’ tab and select ‘One Member – One EPF Account (Transfer Request)’
- Step 3: Authenticate your PF account and the current employer details
- Step 4: Click on the ‘Get Details’ to check the previous employer’s details
- Step 5: Choose ‘Previous Employer/Present Employer’ in the ‘Assessment Through’ section based on the availability of an authorised signatory holding DSC
- Step 6: Provide UAN and click on ‘Get OTP’
- Step 7: Enter the OTP received on your registered mobile number and click on ‘Submit’
- Step 8: Check the tracking ID and take a printout of Form 13 once redirected
- Step 9: Sign this form and submit it to the employer within 10 days of obtaining it
Documents Required to Complete EPF Transfer
Now that you know how to transfer EPF online, submit these documents to complete the process:
- Valid ID proof: Aadhaar card, Driving licence, PAN card
- Universal Account Number (UAN)
- Provident Fund account number
- Current and old PF account details
- Details of the present employer
- Bank account details
- Establishment number
How to Check the Status of PF Transfer
You can visit the ‘Member Claim Status’ page on the EPF India website to check your PF transfer status. Select the option of ‘Click here to get redirected to the passbook application’ and sign in using your UAN and password to continue.
Once your previous employer approves the claim and sends it to EPFO authorities for approval, your provident fund transfer will be completed in a few days. In case you need funds, you can get a quick and hassle-free Instant Personal Loan from Fibe. With us, you can get funding of up to ₹5 lakhs and enjoy speedy disbursal. Download the Personal Loan App or log in to our website to secure a loan with an easy repayment schedule and affordable interest rates.
FAQs on How to Transfer EPF Online
How to transfer EPF online?
You can transfer EPF online through the EPF Member portal. All you have to do is fill out a Composite Claim Form to apply for the EPF transfer when switching jobs.
Why is EPF not transferred?
There can be several reasons why your provident fund transfer could have failed, including:
- Your application does not have a signature from the previous employer
- Your UAN may not be linked to the EPFO portal
- Your KYC details may not be verified on the EPFO portal
- Your documentation is not complete
- The information provided does not match with the information in the database
- Non-compliance with the rules and regulations of EPF transfers
- You may have submitted incorrect account details
- System errors or technical glitches
What happens to EPF after leaving a job?
When you leave a job, you have these options:
- You can withdraw the EPF amount and settle your account if you don’t join another job after 2 months
- If employed, you can opt for a provident fund transfer to keep your savings intact and continue your membership
Do we need to transfer EPF separately?
When switching jobs, you can choose the following options:
- Close your current EPF account and open a new account with the new employer
Transfer EPF online and keep your EPFO membership
Sources:
https://www.epfindia.gov.in
https://passbook.epfindia.gov.in
