PF Transfer - Process, Rules & How to Transfer PF Online?

As job switches are becoming increasingly common among the Indian workforce, the provident fund account, in which both the employer and employee contributes to the retirement fund, should be smoothly transitioned to the current employer. The PF balance can be transferred using UAN online.

Why Transfer Your PF?

• In cases of job transfer, the employee will have two options in such cases as regarding his PF account balance.
  • Employee’s contribution with interest can be withdrawn if the employee continues to be on break for up to 60 days; or
  • Transfer the balance to the current employer
• In order to make it an ideal saving for retirement it is always better to transfer the PF balance instead of withdrawing. 
• This is also advisable from the tax standpoint as withdrawal of PF within 5 years of continuous service attracts tax.

PF Transfer Online - Key check points 

While the PF transfer was possible online earlier under ‘Online Transfer Claim Portal’, with the introduction of UAN, the process of transfer is revised and shifted under ‘unified portal’. However, in order to make online PF transfer, please ensure the following:

• The member should have activated his UAN in UAN portal and mobile number used for activation should also be active
• Bank account and bank IFSC code of employee should be seeded against the UAN Seeding Aadhar number and PAN against UAN is not mandatory for raising transfer claims
• The employer should have approved the e-KYC
• The previous/current employer should have digitally registered authorized signatories in EPFO
• PF account number of both previous and current employment of an employee should be entered in EPFO database
• Only one transfer request against the previous member ID can be accepted
• Personal information and PF account related information is shown in EPFO should be correct

Documents Required to PF Transfer

• Valid ID proof (PAN card, Aadhaar card or driving licence) 
• UAN 
• PF account number 
• Present employer’s details 
• Bank account details 
• Current and old PF account details 
• Establishment number

How to Transfer PF Online?

Now we know that PF transfer can be made online and above criteria need to be fulfilled. Let us understand the procedure step by step with the help of screenshots:

Step 1:Login to Unified portal (member interface) by using your credentials i.e., UAN number and password

Step 2: After login, click on ‘One Member – One EPF Account (Transfer Request)’ under Online Services

Step 3:Verify personal information and PF account for present employment:

Step 4: PF account details of previous employment would appear on clicking on ‘Get details’ below.

Step 5:You have the option of choosing either your previous employer or current employer for attesting the claim form based on the availability of authorized signatory holding DSC. Choose either of the employers and provide member id/UAN:

Step 6: In the next step, click on ‘Get OTP’ to receive OTP to UAN registered mobile number and enter the OTP and click on submit.

Step 7: Once you click ‘Submit’ you can see the Tracking ID and PF account details. Take a printout of ‘Form 13’ and sign it. This form must be submitted to the employer within 10 days of obtaining it.

Step 8: Your previous employer will review and approve the claim and forward it to the EPFO for approval and transfer of PF accounts. You will get an SMS when your employer and EPFO approve the transfer claim.

How to Check Status of PF Transfer?

• Go to the EPFO member portal. 
• Log in by entering the UAN and password.
• Under the ‘Online Services’ tab, click on ‘Track Claim Status’.
• The status of PF transfer will be displayed under the ‘Transfer Claim Status’. 

Benefits of Transferring PF

When an employee changes a job, it is better to transfer the old PF corpus to new PF account created by the current employer. EPF is a long-term investment backed by the government. Thus, it can be withdrawn in case of emergency. Transferring the balance of the PF account from the old to the new has the following benefits-

• TDS is applicable on EPF withdrawal within 5 years of employment. However, if the PF corpus is transferred within 5 years, it is tax-free.
• EPFO provides compound interest on PF contributions. Thus, if the PF amount is withdrawn instead of transfer, the interest would reduce.