+91 888 480 0789
info@FundsTiger.com
Partners Login/Register
Login/Register
Facebook
Twitter
LinkedIn
YouTube
Instagram
Pinterest
FundsTiger - Fast Loans for IndiaFundsTiger - Fast Loans for India
  • BUSINESS
    • Apply Business Loan
    • How it Works – Business Loans
    • Eligibility and Docs for Business Loans
    • Loan Types
    • FAQs for Business Loans
  • PERSONAL
    • Apply Personal Loan
    • How it Works – Personal Loans
    • Eligibility and Docs for Personal Loans
    • Loan Types
    • FAQs for Personal Loans
    • Champion Registration
    • Credit Score Booster Consulting
    • Loan Balance Transfer Counselling
    • Financial Health Checkup and Booster
  • HOME
    • Apply Home Loan
    • Home Loan Guide
    • Eligibility and Docs for Home Loans
    • Loan Types
    • FAQs for Home Loans
    • Pradhan Mantri Awas Yojana (PMAY)
    • FAQs on PMAY
  • KNOWLEDGE CENTER
    • Calculators
    • Credit & Cibil Score

For security reasons, your session has been timed out. To continue, Please login.

Employee Provident Fund- Transfer

September 19, 2018Saving SchemeSuganya Arumugam

The EPFO or Employees’ Provident Fund Organization has introduced an online system to facilitate transfer claims and withdrawals by its members. Using this system, an employee can transfer his or her provident fund (EPF) balance with the previous employer to a new employer or can make partial/complete withdrawal of his PF balance with ease. In online transfer of PF, an employee has the option to get his or her claim attested by the current or the previous employer. After you submit your EPF transfer request, the employer will verify/correct your member details, approve and submit the request online through the portal. However, the employer needs to have a digital signature in order to affect the transfer. There are certain eligibility criteria which an employee needs to meet in order to transfer the EPF online.

Online transfer of EPF

When you move from one company to another, you need to transfer your Employee Provident Fund (EPF) as well. With the introduction of Unified Account Number (UAN) for EPFO subscribers this process has become simpler as the account number remains unchanged. Here’s how to initiate the EPF transfer process online.

Register on the EPF member portal
In order to initiate the claims transfer, you need to be a member of the EPF member portal. The registration on the portal can be carried out by logging on to the EPFO India website.

Portal for online claims transfer 
The employee must access the Online Transfer Claim Portal and register a claim for transfer of EPF. The login details for this portal are the same as those for the member portal.

Check eligibility
It is important to check whether you are eligible to make an online transfer claim. In some cases, a physical form (Form 13) must also be submitted.

Process

If you are eligible to make the transfer online, click on the ‘Request for transfer of funds’ and enter the PF numbers of your previous and current employer. The claim needs to be attested online by either your previous or current employer. On filling in the details, a PIN will be generated and sent to the registered mobile number.

Authentication
A tracking ID will be generated to track the progress of the online application. The printable Transfer Claim Form (Form 13) can be saved in the system. Print out Form 13, sign it and submit it to the employer to complete the process of claim submission.

Reasons to transfer your PF

Once an individual starts his career by taking up employment in any of the PF registered organization, an employee would be registered for PF purpose and both employee and employer contributions to employee’s PF and the fund earns interest till withdrawal. Further, it is not uncommon especially in early or mid-years of the career, to switch job for various reasons with or without break. In such scenarios, what happens to the PF account of the employee already created with the previous employer?

The employee will have two options in such cases

  • Employee’s contribution with interest can be withdrawn if the employee continues to be on break for up to 60 days; or
  • Transfer the balance to the current employer

As already mentioned, in order to make it an ideal saving for retirement it is always better to transfer the PF balance instead of withdrawing. This is also advisable from the tax standpoint as withdrawal of PF within 5 years of continuous service attracts tax.

How to use UAN to transfer PF online?

The Employees’ Provident Fund Organisation (EPFO) has been taking several measures to simplify the operation of EPF account both for employer and employees. Keeping up with technology revolution, EPFO is also striving towards making all the process related to EPF electronic, more specifically PF transfer and withdrawal of PF which are generally tedious and time-consuming.

EPFO introduced Universal Account Number (UAN), which acts as an umbrella for the multiple Member Ids allotted to an individual by different employers. UAN enables linking of multiple EPF Accounts (Member Id) allotted to a single member. UAN offers a bouquet of services like dynamically updated UAN card, updated PF passbook including all transfer-in details, facility to link previous members’ ID with present ID, monthly SMS regarding credit of contribution in PF account and facility for auto-triggering transfer request on change of employment.

Documents required for transferring PF online

While the PF transfer was possible online earlier under ‘Online Transfer Claim Portal’, with the introduction of UAN, the process of transfer is revised and shifted under ‘unified portal’. However, in order to make online PF transfer, please ensure the following.

  1. The member should have activated his UAN in UAN portal and mobile number used for activation should also be active
  2. Bank account and bank IFSC code of employee should be seeded against the UAN  Seeding Aadhar number and PAN against UAN is not mandatory for raising transfer claims.
  3. The employer should have approved the e-KYC
  4. The previous/current employer should have digitally registered authorized signatories in EPFO
  5. PF account number of both previous and current employment of an employee should be entered in EPFO database
  6. Only one transfer request against the previous member ID can be accepted
  7. Personal information and PF account related information is shown in EPFO should be correct

Procedure to transfer PF online

Now we know that PF transfer can be made online and above criteria need to be fulfilled. Let us understand the procedure step by step with the help of screenshots:

Step 1

Login to Unified portal (member interface) by using your credentials i.e., UAN number and password

Step 2

After login, click on ‘One Member – One EPF Account (Transfer Request)’ under Online Services

Step 3

Verify personal information and PF account for present employment:

Step 4

PF account details of previous employment would appear on clicking on ‘Get details’ below.

Step 5

You have the option of choosing either your previous employer or current employer for attesting the claim form based on the availability of authorized signatory holding DSC. Choose either of the employers and provide member id/UAN:

Step 6

In the next step, click on ‘Get OTP’ to receive OTP to UAN registered mobile number and enter the OTP and click on submit.

The employer will digitally approve your EPF transfer request by accessing employer interface of the unified portal

Fill up form 13 with details including PF number from both previous and current employer and download the transfer claim (pdf format). Submit the physical signed copy of the online PF transfer claim form to the selected employer within a period of 10 days.

You can apply for an attractive offer with best possible rate of interest and terms for Personal Loan, Business Loan , Home Loan and Car Refinance Loan.

Previous post Voluntary Provident Fund (VPF) – Saving Scheme Next post Provident Fund- Withdrawal




Recent Posts

  • Should you have to invest in Bitcoin?
  • Atmanirbhar Bharat Loan
  • Top 5 Credit Cards for 2021 – for your money needs at best terms
  • Atmanirbhar Bharat Abhiyaan
  • 15 New & Small business ideas – 2021
  • Personal Loans
    • Apply Personal Loan
    • How it Works
    • Eligibiity and Docs Required
    • Types of Personal Loans
    • FAQs
  • Home Loans
    • Apply Home Loan
    • Eligibiity and Docs Required
    • Home Loan Guide
    • Types of Home Loan
    • FAQs
  • DigiLocker
  • Income Tax
    • ITR Forms
    • IT Returns
  • Credit Cards
  • Interest Rates
    • Personal Loan Rates
    • Business Loan Rates
    • Home Loan Rates
    • Fixed Deposit Interest Rates
  • Lowest Interest Rates
    • Lowest Personal Loan Rates
    • Lowest Business Loan Rates
    • Lowest Home Loan Rates
    • Lowest Loan Against Property Rates
  • Budget 2019
    • Budget 2019 – Tax breaks
    • Budget Impact on Business and MSME
    • Highlights of Interim Budget 2019-20
  • User Guides
  • Business Loans
    • Apply Business Loan
    • How it Works
    • Eligibiity and Docs Required
    • TypeS of Business Loans
    • FAQs
    • CGTMSE-Loans
    • Mudra Loan(PMMY)
  • PMAY
    • Pradhan Mantri Awas Yojana
    • FAQs On PMAY
  • Credit Score
    • Know your Credit Score
    • Improve your Credit Score
    • Good Cibil Score
    • CIBIL Score Facts
  • Tools
    • Best Personal Loan
    • Best Business Loan
    • Best LAP
  • Investments
    • Top 7 Investment mistakes
    • Top 5 Things before investing
    • 8 Best Investment options
    • Fixed Deposit is a better Investment option
    • Why you should invest in ELSS?
  • Lenders
    • Our Lenders
    • How it Works
    • FT Credit Analyzer
  • Partners
    • Why Partner With Us
    • Register as a Partner?
    • Affiliate Program
  • Resources
    • IFSC Codes
    • MICR Codes
    • Small Business Mentors
  • Car Refinance
  • Poplular Blogs
    • NPS
    • LAP
    • Tax Benefits
    • CIBIL
    • Mutual Funds
  • Others
    • Careers
    • Contact Us
    • Terms of Service
    • Privacy Policy
  • FundsTiger TV
  • Credit Score Booster Consulting
  • Loan Balance Transfer Counselling
  • Financial Health Checkup and Booster
  • Subscribe to FundsTiger
  • Loan Calculators & Guides
    • Home Loan Eligibility Calculator
    • Business Loan Eligibility Calculator
    • Personal Loan Eligibility Calculator
    • Home Loan EMI Calculator
    • Business Loan EMI Calculator
    • Personal Loan EMI Calculator
    • Car Loan EMI Calculator
    • Reduced vs Flat Rate Calculator
    • Fixed Deposit (FD) Calculator
    • Working Capital Calculator
  • Saving Schemes
    • Post Office Saving
    • Atal Pension Yojana
    • Sukanya Samriddhi
    • Kisan Vikas Patra
    • Senior Citizen Saving
    • PPF
    • EPF
    • VPF
  • Year 2019
    • Investment Lessons 2019
    • Financial Resolutions 2019
    • Saving Tips 2019
    • Financial Deadlines 2019
  • About Us
    • Overview
    • Mission and Values
    • Why FundsTiger
    • Our Team
    • Our Investors
  • Refer & Win
  • Popular Playlists
  • HOME
  • ABOUT US
  • BUSINESS LOANS
  • PERSONAL LOANS
  • HOME LOANS
  • CONTACT US
  • ToS
© 2020 All rights reserved. FundsTiger