How To Transfer Pf Money From One Account To Another Account
PF transfer is now on automation with uan number. anyway, be sure to check with epfo.The provident fund is provided for the individuals are those who are working in the organization for many years. The EPF is created for the private sector jobs. The employee can access their provident fund after the retirement of the job. The EPF number is offered for each employee as unique number. With the employee provident fund account number, one can transfer or withdraw money to another pf account.
If the employee changes their workplace from another city, they have the same account number. For registering this account the employee must have required paperwork to create the new account. The employee provident fund account will be created with the help of the employee in the organization. When changing the job and joining as a new employee in other company, the employee does not have an option to open fresh or close the old account.
Advantages of PF transfer:
The employee closing the EPF account before five years, the amount in the account is taxable. If you simply transfer funds to another account, you can enjoy with your earned money. For purchasing, constructing the new home, the marriage of your daughter, medical treatment and more with the partial withdrawal amount of your pf funds. You can also earn prevailing interest rate from the EPFO and becomes substantial to the power of compounding.
Step by step guidelines for pf transfer
If you are new to transferring pf amount to another pf account then read the following instructions.
If you already have UAN, then you can transfer amount easily. Otherwise, ask your employer to create new UAN account.
- First, you need to visit the official page and create the UAN login ID.
- It will take to the page where you enter details of the current employer such as UAN, mobile number, and account number.
- You must check if you are eligible for transfer fund on the website. You have to fill your state which given in the drop-down menu.
- Click on check eligibility to check your status if you eligible or not.
- Then the site displays the status, if you are eligible then register on the website.
- Now you need to submit ID proof like Aadhar card, PAN card and more. The site will send PIN number to your phone number for verification.
- You have to enter the PIN number and continue the further process.
- It takes you to member claim portal, you have to log in with the document ID and mobile number. You can see all the options after login.
- Go to home page and click on request for transfer of account.
- Now you have to fill the pf transfer form.
- In the form, you have to enter your personal details in the first part. Then enter IFSC code and salary account number.
- The second part, you have to fill your old pf account.
- Then fill the current pf account. After filling the form correctly, preview to check if you enter correctly. Click on agree after entering the PIN number, the PF money is transferred.
epf India gov.in >> our services>. for employees>> OTCP https://unifiedportal-mem.epfindia.gov.in/memberinterface/
After loging uan Portal. Dashboard>> transer/calims>> made New claim. fill the claim form.
Pf transfer eligibility check http://memberclaims.epfoservices.in/check_eligibility.php
Members claim portal login http://memberclaims.epfoservices.in/
OTCP Portal for employees http://epfindia.gov.in/site_en/OTCP_ForEmployees.php