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If you have recently changed the job and want to transfer your Provident Fund (PF), then this work can also be done online. Here we will tell you how you can easily transfer your PF online.
Highlights
- EPFO made the PF transfer process easier online.
- UAN is active and Aadhaar, it is necessary to link to bank account.
- PF transfer gives the benefit of compounding.
How does PF transfer?
EPFO has made the PF transfer process easier with the online system available on its member portal. Members have to ensure that their universal account number (UAN) is active and link to Aadhaar, bank account and mobile number. After logging in with UAN and passwords, users can submit the transfer request through the ‘One Member-One EPF account’ service. In this system, users have to confirm their individual and employment details, select an employer for a claim attesion and certify the procedure with the OTP sent to the registered mobile number.
Check claim status
EPFO also gives its users a facility to track claim status. If the transfer has been processed online, then there is no need to submit physical form 13. However, if many Uans or exempted institutions include employment, Form 13 may be required with offline manual process. This ensures that all circumstances can be covered, so that many jobs are flexibility for history.
Benefits of transfer
EPFO always advocates transfer of PF account. According to EPFO, instead of withdrawing the PF amount, the member gets the benefit of compounding, which increases the amount of PF account rapidly. This method not only helps in increasing retirement funds, but also ensures that the employee maintains the financial benefits related to their services.
