Changed Your Job? Know How to Transfer Your Old PF Balance and Avoid Loss at Retirement

If you have recently changed your job, it is very important to transfer the balance from your old Employee Provident Fund (EPF) account to the new one. This helps your retirement savings grow without any break. The Employees’ Provident Fund Organisation (EPFO) now provides an online facility to transfer your PF balance. This has made the process easier for millions of employees.

Why Is PF Transfer Important?

As per EPFO, if you transfer your PF, your retirement money stays in one place and keeps growing. You also get the full benefit of interest on your total money. It also helps to count your total working years, which is needed for pension and tax-free PF withdrawal after five years.

How to Transfer PF Online?

EPFO has made the PF transfer process easy and online. Here is how you can do it:

Step 1 – Activate UAN:

First, you need to activate your Universal Account Number (UAN) on the EPFO member portal. Your Aadhaar, bank account, and mobile number must be linked with it.

Step 2 – Log in to the Portal:

Use your UAN and password to log in to the EPFO website.

Step 3 – Apply for Transfer:

Go to the option ‘One Member-One EPF Account (Transfer Request)’ and apply for the transfer.

Step 4 – Check Details:

See your old and new job PF account details. Choose one employer to approve your request. The employer should have a digital signature.

Step 5 – OTP Verification:

You will get an OTP on the mobile number linked to your UAN. Enter the OTP to complete the process.

What Things You Must Keep in Mind

To do PF transfer, your old employer must update your exit date on the EPFO portal. If it is not done, they can add it using the ‘Manage > Mark Exit’ option.

Also, you can apply for PF transfer only one time for the same old PF account.

How to Check Transfer Status and Offline Method

• After applying, you can check the transfer status by going to the ‘Track Claim Status’ section.
• If you have applied online, you don’t need to submit Form-13.
• But if you have two UANs or worked in a company with a private PF trust (Exempted Establishment), then you must follow the offline process.
• For that, fill Form-13, get it signed by your employer, and submit it to the EPFO regional office.

Benefits of PF Transfer

EPFO says that if you transfer PF, your money keeps growing with interest and helps you save more for retirement. But if you withdraw PF early, you may lose a big part of your future savings. If you have any questions about rules, who can apply, or transfer details, visit the EPFO website: www.epfindia.gov.in