EPFO Online Transfer
It is no more a dream to do EPFO online transfer by yourself. This initiative is to increase the retirement saving of citizens. The hassles behind transferring the PF amount from one company to another were tedious. This forced many employees to withdraw their PF amount instead of transferring. Since the UAN is introduced, it is simple to transfer the PF account. The EPFO has also launched this facility to reduce and eliminate the multiple EPF accounts. The facility is quite relaxing for the employees as well the EPFO authorities. While going through this information, you will learn how to transfer your PF funds from one employer’s account to the new employer’s account.
During past few years, EPFO online facilities have improved a lot. Besides checking EPF balance status, employers can also make online EPF payments. Job changes are now frequent compared to earlier days. With change of workplace and cities, it is likely that an employee keeps on creating multiple PF accounts. The EPFO online transfer is significantly reducing the paperwork and dormant accounts. It is also stopping people from withdrawing their PF amount every time they leave a company.
Online PF Transfer: Step-By-Step Guide
To transfer your EPF online, you should have a registration to login the EPFO portal. If you already have the UAN, you can easily do EPFO online transfer. Follow the below steps and transfer PF online:
- Visit the EPFO member portal at http://members.epfoservices.in/home.php and create your login id UAN based.
- Enter your UAN number and mobile number. Also, fill up details of your employer with PF account number.
- Check if the account is eligible for an online transfer. Fill in the state where the employer’s account belong. You can search by establishment code or by name using the drop-down list.
- Now you can check the eligibility. If you find it eligible, register on the EPFO website for transfer.
- Submit your valid photograph identity proof like aadhar card, driving licence or PAN card.
- You will receive a PIN number to your mobile for verification purpose.
- Provide the PIN you received and click on ‘submit’.
- Now you will receive a confirmation message and get redirected to the EPFO member claims status portal. Here you will start claiming for EPFO online transfer.
- For login purpose, provide the document ID and your mobile number. Follow the option of ‘Request for Transfer of Account’.
- Now you will see the transfer form on the screen. Enter details on all the three parts. The details include your name, email, bank details and salary account number.
- In the second part, fill up the details of your old PF account which you want to transfer.
- In the last part, fill in the details of your new or current PF account to which you transfer the funds.
- At the last step, enter the captcha code and get the PIN on your mobile. Also, check the box for ‘I Agree’.
- Once you provide the PIN received now in your mobile, the EPFO online transfer process is initiated.
This just completes your process of applying for EPFO online transfer. To confirm the transfer, learn how to check the status of PF transfer and download PF withdrawal form online.
Check PF Transfer Status Online
The online transfer claims portal of EPFO also allows to check the status of the transfer. Login using the document ID and your mobile number. Follow the option for tracking PF transfer status. Provide any other additional information if required. You will see the status of your request for transfer of PF funds to another account. In the case of any trouble, you may also enquire with your employers. Employees can also write directly to the EPFO authorities.
It is always recommended to transfer your PF account instead of withdrawing the sum. By avoiding withdrawals, you can get the full benefit of your savings. Early withdrawals do not give you the benefit of compounding interest. Withdrawals of PF before 5 years may also attract tax. Use the facility of EPFO online transfer you can make smart use of your EPF money.
With UAN, it is convenient to know your balance and claim status as well. EPFO online transfer was introduced in 2013. The EPFO member also has an option to claim the transfer through a previous or new employer. Check other useful information on EPF withdrawal and Tax on PF withdrawal on our blog. Keep visiting us to avail information on online facilities of EPFO portal.