nowadays pf transfer is getting popular than pf withdrawal because of uan number. with uan number portal. the employee has to inform the employer to link present uan with new pf account. all pf accounts up to 10 links with uan number. we can transfer from to one pf account close remaining account. here UAN number is the key for all your pf accounts.
How to transfer PF funds to another PF account
When a person changes his job there may be a change in city or work area. Changing places for a job has become extremely common for people working in private industries.
Why transferring PF is better than closing it?
At the point of changing job, many individuals prefer to close their old PF account which is not right. Closing and opening a fresh account is a hectic and tiresome decision. Whereas transferring your PF account from one employer to other is always a wise decision. Transferring your PF account from one employer to other is the comparatively easier task. In earlier days the process of transferring PF funds included some paperwork and formalities. But the best part is today all this process can be done online. The online self-service portal has made it extremely easy.
Benefits of PF transfer
There are a number of benefits offered by transferring your PF funds. Many people are unaware of the fact that closing your PF account before 5 years is a taxable affair. In this can, the withdrawal amount will be taxable and you will have to bear the loss. Whereas transferring your PF funds is always a beneficial option as you will get your whole money without any deductions. In this case, you will also be able to earn the prevailing rate of interest from PFO. This can offer you some long term benefits as the amount becomes substantial due to the power of compounding. You can also withdraw these funds any time for the financial emergencies.
How to check PF transfer eligibility
Transferring PF funds is always permitted by PFO. In the earlier days making the PF transfer was time-consuming as the employee had to take a signature of his ex-employer on form 13 and submit it to the current employer. Another issue was the form used to be posted by post and often used to be delayed or misplaced. However, the online portal has changed the things radically. Now people can easily transfer their PF account easily. Using online portal is time-saving and less stressful. To make the PF transfers through the online portal you just need to have a universal account number. This account number remains a permanent identity.
Guide for online PF transfer
Transferring your PF funds online is quite easy. You just need to have your UAN number which can be received from your employer. Following are the steps to make the PF transfers.
- the very initial step one must follow is to visit the UAN login website and log in to it. Once you enter your UAN details to the page you will land on a page where you will find all the details about your UAN account such as pan number, account number, and current status.
- once you fill all the details you have to check whether you are eligible for the PF transfer or not. You can search for your employer’s establishment number by entering location and name of the employer. You can find this in the drop-down menu.
- after entering the details the website will let you know if you are eligible for the transfer or not.
- If you are eligible for the transfer then you will be able to register to the PF portal.
- after this, you will have to submit your legal documents such as Photo ID, Pan Card, Aadhaar card or a driving license. You will also get an OTP message on your mobile so that they can verify you.
- once you receive the message enter the pin number and continue with the process.
After signing into the UAN portal you will never have to enter the details again. You can easily login to the portal by using your UAN ID.
- once you land to the homepage check the top tabs and ask for PF transfer of account. Here you will get an access to the transfer form. You can fill all the details into it.
- enter your personal information and the details of your salary bank.
- after this add the details of your previous PF account.
- followed by this add the information of current PF account.
After this, your transfer claim will be settled once your ex and current employer. Once this is done press, i agree button and your transfer will be initiated.
check pf claim status of epfo withdrawal and transfer request with pf number, uan number, and claim number online at epfo uan member portal.
Easy way to check your PF withdrawal or claim status
Deduction proportions from salary
If you are a working employee and work at a PFO or EPFO registered organization then you and your employer both will contribute 12% of your basic salary every month in the PFO account. The 12% contribution from your side goes into your EPF account with the 3.67% contribution from your employer. The rest amount that is 8.33% from your employer’s side gets diverted to EPS(Employee’s Pension Scheme).
If your basic salary is above 6500 INR per month then your employer can only make a contribution of 8.33% to your EPS account. The deposits made by many employees like you and your employer are invested by a trust. An annual interest gets deposited into the account every year. The interest rate can vary between 8% to 12%. The current interest rate is 8.75%. if you don’t want to be a part of this scheme then you can fill form 11.
Withdrawal of your PF funds
If you are a salaried individual and contributing to PF scheme then you can withdraw your complete balance at the time of retirement. You can withdraw these funds after 60 days of unemployment. You can also withdraw you PF funds immediately if you are going abroad for permanent employment, or if you are a female employee then you can make an early withdrawal if you are resigning job for the purpose of marriage or childbirth. You can check pf claim status anytime.
How to withdraw PF funds
Withdrawing your PF funds is really easy. You can either withdraw them online or directly from the PF office. While withdrawing PF funds you can submit your PF withdrawal form to your employer. In you have your active UAN number and you have updated your KYC details to the employer then you can directly submit UAN based PF withdrawal forms to the PFO. In this case there, is no need to take employer’s signature or attestation.
How to check your PF withdrawal status
To check your pf claim status you can either check it online or you can visit the PFO office for knowing the status of your claim. Whereas checking it online is always a better way. The online provident fund claim status is a great facility that enables you to track your pf claim status of withdrawal. To check the pf claim status online you need to have your PF account number. You can get your PF account number on your Payslip or you can also contact your HR manager to get the PF account number.
Steps to know your PF claim status online
- While checking the pf claim status online the very first step you should take is visit the EPFO portal.
- Once you open the portal you will find a button ‘For Employees’ in the our service section. There you will find a service section where you will find a button’ know your claim status’. Clicking on this button will land you to the pf claim status There you will find a link ‘click here for knowing the claim status’. Click on that link and you will re-directed to a new page where you can select the state of PF office.
- Once you enter your state’s name you will see the list of regional PF offices. You can select the concerned office name if you know your region.
- The next step you have to follow is enter the establishment code of your employer. Note one thing that the employer code is max of 7 digits.
- If at all you have any extension code or sub code then you have to enter it in the 4th box. If you don’t have any then you can leave it blank. Next is fill your PF account number in the 5th box. The PF account number is 7 digits long.
Checking PF claim status
- Once you fill all these entries click on the submit button to see your PF claim status. The status message shows the discrepancy in the document and application.
- You may also receive a message that will show the action taken by PFO regarding your pf claim status. The accurate PF claim status will help you to monitor your PF withdrawal claim.
- Only condition is you must know all the numbers such as establishment code, region code and your PF account number.
- If you don’t have establishment code then you can easily find it on the portal. Visit the PFO search services. Here you can find the details about your company based on old code, new regional office, Pin code, establishment name and so on.
- To do this you have to select the ‘Estt. Name’ option, enter the company name and search. This will let you know the establishment code of your employer.
Searching for your pf claim status online is an easiest way. Searching it online will save your time and will provide you status without much efforts. You just need to log in to the UAN portal for this. Registering your PF account to the UAN portal is very easy. If you have your UAN id then you can anytime check your pf claim status online.
pf withdrawal process without employer signature
Majorly there are two elements included in EPF; one is provident fund and the other is employee pension scheme which was introduced in 1995. In this scheme, each participant contributes 12% of his basic pay to the provident and same amount of money is deposited by the employer to employees account. From that 8.33% is contributed to EPS and rest to the provident funds. The pension amount on retirement is calculated with the number of years of service and the average salary of the employee at the time of retirement. EPF scheme is extremely beneficial for your retirement life as you save the good amount of money for you retired life.
Another benefit this scheme is your family is entitled to the pension if you pass away. You can also link your EPF to the insurance scheme. The name of this scheme is EDLI(Employee Deposit Linked Insurance). In this scheme, 0.5% of your monthly basic pay is deposited as a premium for the life insurance cover. Another biggest benefit of investing in EPF scheme is you can withdraw you EPF money in cases of financial emergency. There are certain conditions and limit for the withdrawal but you can get the money instantly.
Transfer and PF withdrawal
Transferring or withdrawing your EPF funds online is a reality now. Online transfer of the EPF funds is a small initiative taken by EPFO. In earlier days withdrawing funds was a herculean task. The online system has reduced the hassles considerably. Another problem with EPF account was with the multiple EPF accounts of an employee. In today’s job sector working at a single employer has become the past. People change multiple jobs in one career span. In earlier days changing their employer for the EPF account was very difficult. Today due to the online portal one can change his or her EPF account without any pressure. One does not need multiple EPF accounts but can easily transfer the EPF balance through UAN.
The EPFO has launched their UAN app which is an extremely beneficial for the employees. You need to have your universal account number and password to operate UAN portal. You can get your UAN id and password from your employer or EPFO. Once you receive your UAN id and password you can register to the UAN portal. You can also register your phone number to the UAN portal. UAN portal is a one-stop solution for all your requirement regarding your EPF account. At UAN portal you can view your EPF balance, withdraw it or transfer it. The online portal has completely changed the way of EPFO’s working. This online portal has completely reduced the false undertaking and unemployment issues in the job sector. You can anytime register to the UAN portal.
PF Withdrawal forms
Form 31 partial withdrawal before retirement
FORM 10C EPS Pension amount withdrawal
old pf forms are now outdated. just download the latest forms from below epfindia.gov.in
EPF Composite claim forms
Advantages offered by online pf withdrawal
There are many benefits offered by registering to UAN portal. One of the major benefits is online portal has made the process of pf withdrawal or transfer significantly transparent. You can easily apply for transfer or withdrawal or even track your application just by a single click. You can get all the EPFO service at your desk. The accurate tracking has significantly increased the accountability of this scheme.
The process of application is much faster at online portal than the conventional EPFO office. With the help of UAN portal, you can expect your EPF transfer or withdrawal in max 2 weeks. The online portal has made this process significantly time-saving. Usually after changing job employer becomes reluctant to do the paperwork with him. But now it has become employer’s responsibility to respond and cooperate in the process. As it is an online application there are least chances of errors which make the process so fast.
Process of EPF claim or PF withdrawal
- The initial step of withdrawing or transferring your EPF funds is to check the eligibility for online transfer. To do this your organization must register their digital signature to the portal. The employer, as well as employee, needs to register his or her digital signature to the portal.
- Once you register you account on the online portal you can fill the application form for the transfer or withdrawal of your EPF funds. Once you submit your application on the website you can download your printable application form. You can submit this form to your past or present employer for the digital signature. One copy you will have to submit at the respective regional PF office.
- After submitting the form there will a verification process by the employer. Once the verification process is completed you EPF will be transferred.
There are few important steps taken by UAN portal to avoid frauds in the process of online transfers and withdrawals. An employee has to link his KYC form to his UAN account. It is extremely important for the employer to verify KYC form of the employee. As Adhaar card contains the biometric information of the individual it has significantly helped in making EPF withdrawal process safer. You can also enjoy other facilities by UAN portal such as download your UAN passbook, view your EPF balance and so on. The online portal has definitely made the employee’s life easy while dealing with the formalities regarding EPF account. Considering it’s usability EPFO has also launched their UAN mobile app. This will help you ti access your EPF account anytime and anywhere.