How to Transfer PF Funds Easily to another PF Account?

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These days, people have become too conscious about earning lots of money so as to make their future peaceful. As part of earning more money, people find different jobs and they work for a little time. None of them work permanently and stick on to a single job and single company. People move on into different companies, especially in the private sector.

In such a case, people need to change their work, place and much more. The meaning of shifting from one job to another involves a number of things like collecting dues from the past company, Employee Provident Fund and a lot more. The PF of an employee plays a crucial role once an employee leaves his or her job. If you are looking to transfer your provident funds into another provident fund account, we are here to help you in the best and simple way.

Transferring PF without Closing Completely

When people shift from one job to another i.e., changing their job, there is a possibility of closing their previous PF account and opens a new one. Instead of closing that account permanently, it is better to transfer the PF to the new account. In order to do so, there is an online service website from EPFO that aids the users transfer their PF without any hassle. The Employee Provident Funds Organisation always lets the employees transfer their fund. Earlier, it was quite difficult wherein the employees need to fill in Form 13 and totally it was time-consuming. So, instead of keeping it inactive, the employees can transfer their PF accounts.

How to Transfer PF Funds Easily to another PF Account

Benefits of EPF Transfer

Here are some of the essential benefits of Employee Provident Fund Transfer:

  • If in case, you can any PF account prior to the completion of 5 years, the amount in that account turns out to become taxable. If you transfer the funds, you can get your money in complete amounts.
  • You can even get current rate of interest through EPFO and after a long time, it becomes large sum by multiplying it.
  • The employees can benefit a little withdrawal on their funds because of buying or building a house, marriage functions, medical treatment and a lot more.
  • According to the prediction of EPFO, as of the month of March 2013, a total of Rs. 22000 crores were under the organization. As the accounts were inactive for 3 years, they don’t even earn any kind of interest.

How to Transfer PF Funds Online?

Here are the easy steps that help the users to easily transfer Provident Funds of an employee to another account through online mode:

  • First of all, navigate to the official web portal of EPFO @ https://unifiedportal-mem.epfindia.gov.in/memberinterface/
  • You need to create a new login ID. After moving to a new web page, just enter the UAN, your registered mobile number and other essential details such as the state, account number of the employee.
  • You need to see whether your account is eligible for transferring PF through EPFO site.
  • Enter your state and search through name from the menu.
  • After entering all your details in the provided fields, you need to tap on the button ‘Check Eligibility.’
  • If you are eligible, just register on the EPFO website.
  • Provide a valid photo proof such as Aadhaar Card, PAN Card, Driving Licence, etc.
  • You will receive a PIN to your Mobile number. Enter the PIN and make sure you get a confirmation message.
  • After logging into the account, you need to tap on the option that says ‘Request for transfer of account.’
  • You need to fill all your details in the PF transfer form such as old PF account details, current PF account details, IFSC code of an authorized bank account and salary account number.
  • Make sure that you have provided appropriate details and enter the CAPTCHA code. Click on ‘I Agree’ button.
  • You have now successfully claimed for transfer of PF funds.

Besides transferring, the users can also check out the status of your current funds in your account through this EPFO website. This is the easy process to transfer PF funds easily through online mode.

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