When your employer, current or previous verifies the details of your old pf account, after that your old account would be transferred to new one and balance also transferred to the new PF account.
When we start working in pf registered organisation, we will be registered for PF. Know question arises what is pf account for employee and how it’s beneficial for employee. If organisation registered their employee for PF, in such condition employee and employer both contribute for pf account and this fund earned interest till withdrawal of EPF. When you switch your job to new job, you have two option First you will withdrawal your EPF amount with earned interest or you may also transferred your EPF amount with interest to new company EPF account.
You can transfer employee provident fund old account to new account online and offline. The member of e-SEWA portal can transfer their money from old account to new one online. Your UAN number will be same, only your pf account transfer one to another.
Requirement to transfer EPF account online:
- To transfer the EPF account, account holder UAN number should be activated at E-Sewa portal.
- After login in E-Sewa portal, make sure your or personal detail like name, contact details, marital status, etc. are updated correctly.
- Your bank account number, IFSC code, and aadhaar number correctly entered in the member E-Sewa portal.
- Bank account number and aadhaar number should be approved digitally by employer and UIDAI.
Steps how to transfer EPF Online:
- Go to the Unified Member Portal and sign into EPFO account with UAN and password.
- Now go to the online service and click on One Member – One EPF.
- Verify your personal details and PF account for present employment.
- Click on get details button, your PF account details of previous employer reflect on your screen.
- Choose option previous or current employer for attesting form.
- Click on get otp option, OTP will received on your aadhaar registered mobile number.
- Enter OTP and click on submit.
When your current and previous both employer verifies your details, your PF account transferred to old to new one along with your pf amount with earned interest. After transferring old pf account to new pf account, you will be eligible to withdraw more.
It is worth point out that while submitting the transfer form online, you need to choose whether attestation of such form will be made by the present or previous employer. You should make a selection considering that employer will be required to attest such form using DSC (Digital Signature Certificate) of authorised signatory which has to be registered on the portal. Therefore, it is a pre-requisite that at least one of the employer’s – previous or present – DSC is registered on the portal.