Have you changed jobs? Transfer online PF balance to new employer's account using THESE steps...

Are you planning to changer your job? Do you know that your Employees’ Provident Fund (EPF) balance can easily be transferred to your new employer’s account? Secondly, it is beneficial for you in a number of ways and a few clicks away too. The Employees' Provident Fund Organisation (EPFO) has simplified the process and allows members to transfer their PF balance online, for the benefit of millions of employees in India. It is the same for those working for governments or the private firms. 

If you transfer your PF balance to your new employer, it will  consolidate your retirement corpus and retain the benefits of compounding. If you transfer your PF balance to the new employer whenever you switch your job, your service history will be carried forward. It will help you avoid tax deductions on withdrawals after five years of service. It is also important for pension eligibility. 

Steps for online transfer

• Activate your UAN: First, activate your Universal Account Number (UAN) at EPFO’s member portal. Now, link your Aadhaar, bank account, and mobile numberto your UAN.
•  Log in: Use your UAN and password to log in to the portal.
• Submit transfer request: Go to ‘One Member-One EPF Account (Transfer Request)’ under the online services tab.
• Verify details: Ensure that your personal information and PF account details of your previous and current employment are correct, any error may create problems. Now, chose either your previous or current employer to attest your claim, based on their digital signature availability.
• Authenticate with OTP: Request to send you an OTP on your UAN-registered mobile number. Submit it to complete the process. Done. 

Track your status

After completing the process and submitting it, you can track the status of your transfer request under ‘Track Claim Status’ in the member portal. You need not submit physical Form 13 if the request is filed online. However, before going to this process, ensure that previous employer has entered your date of exit in the system. If it has not done so, update it through the ‘Manage > Mark Exit’ option on the portal. If you have two UANs or you have worked in an exempted establishment, an offline process using Form 13 is necessary. In this case, the form must be signed by your employer and submitted to the regional PF office.