Are you planning for PF transfer? Do you know the detailed procedure of How to transfer pf amount to the bank account? No need to worry at all, now it’s time for you to know all the possible ways of checking your PF Balance. If you wish to make changes like Pf transfer from one company to another, then here in below we have explained the steps to make PF transfer. At the time of retirement, this Provident Fund (PF) amount will benefit you for your survival. To make that PF amount available for you then definitely every employee should fill in the PF transfer form if they plan to transfer the amount from one account to another. Now it’s very simple to get your PF amount through online pf withdrawal. Likewise, many more interesting facts will be discussed for you so, let’s get started for this session.
PF Transfer Rules:
As said earlier, Pf transfer from one company to another is possible by fulfilling the rules of pf transfer procedure listed herein below.
- No time restriction is made for online pf withdrawal.
- You can transfer EPF balance only to your account, PF transfer cannot be made to any third party account.
- Through the transfer of EPF, the pension amount of employee pension scheme also gets transferred.
- Transfer of partial amount from a PF account to another account isn’t possible.
- Employees of employee s necessary for PF transfer.
- PF transfer form submitted will be successful only when the name, father’s name, date of birth in the both accounts match equally.
Ways to Transfer online pf balance:
EPF India (Employee Provident Fund) launched new methods of offline/online pf withdrawal through various PF transfer form. Option of choice the to the employees for EPF transfer
Submit the PF transfer form Offline:
In the offline PF transfer process, you are required to download the pf forms which are attached below. After filling in the required details, the application is to be submitted to your employer. He will forward this form to the EPF India. The EPFO makes confirmation regarding the online the balance available at your previous employer. After the authentication by the former employer, The EPFO transfers the money from the previous account to current EPF account. Because of the physical movement of PF transfer, all the required documents are to be transferred physically from one place to another which takes on more time.
Submit the PF transfer form online:
This is one of the easiest modes of PF transfer. The PF transfer form transmits electronically. The authentication by the current& previous employer also takes place online. This system takes less time. Same PF form will be filled in by the employee who has to be displayed above and after entering all the required fields by clicking on submit button the Pf transfer from starts the process of getting authentication and thereby the online pf withdrawal will be made available for you.
Various PF Forms:
Below listed are the various PF forms which are to be submitted by the employee in different stages of making the online pf withdrawal.
- EPF Form 13: when the employee transfer (diverts) from one job to another EPF Form 13 is to be submitted where in Pf transfer is made the account from your previous employer to the new employer.
- EPF Form 14: If the employee wishes to apply for Life Insurance Policy from your (Provident Fund) PF amount, then EPF Form 14 helps in financing the PF Fund amount.
- EPF Form 19: If employee wants to terminate from His/her services or taking retirement, then EPF Form 19 helps for online pf withdrawal.
- EPF Form 10-C: If the employee wants the settlement of online pf balance either new Employees Pension Scheme EPS 95OR under old Family Pension Fund (FPF), you can use this form along with Form 19/20. If employee’s age is less than 58 years, he/she can also use Form 10-C for an issuance of Scheme certificate for the retention of membership.
- PF Form 10-D: This form is used to get the pension either by an employee or by any nominee after your death. If nominee filing the form for Pension, a valid Form-2 (Nomination Form) is also required to get the pension.
- EPF Form 20: This form is used to get the amount of Provident Fund by nominee/Family member after your death.
- EPF Form 31: This is an Advanced form, used for taking Advance, Loan, or withdrawal from PF amount for various reasons like the medical problem, buying a house, marriage, etc. A declaration certificate also required along with Form 31.
- EPF Form 5 (I.F.):the nominee uses this Form for the withdrawal EPF amount/dues of the deceased member, who died while in doing the service.
How to transfer pf amount to the bank account?
Here is a step-by-step guide of facilitating Pf transfer from one employer to another to bank account.If you have already been assigned a Universal Account Number, you can transfer funds easily. Ask your employer for UAN, if you haven’t got it.
- Go to the EPFO website at EPF India and create your UAN based login ID.
- You will be redirected to a new page where you have to enter your UAN, mobile number and details of current employer like state, establishment number and account number.
- Then you need to check if the account is eligible for a transfer on the EPFO site. You need to fill in the state where the employer was located and search by name or establishment number from a dropdown menu.
- After you have filled in the details, click on “Check Eligibility for PF transfer”.
- The site will then let you know if your account is eligible, or not. If it is, then you can register on the EPF India website.
- You have to submit a valid photo ID such PAN card, Aadhaar or driving licence. The website will also send a PIN to your mobile which you have to verify.
- Submitting the PIN successfully will give you a confirmation message. Continue further.
- This will take you to the EPFO Member Claims Portal, to log in you have to provide the document ID and phone number. After signing in, you can see all options.
- Once again Go to the Main portal of EPFO and click on Request for transfer of account.
- You can now access and fill in PF transfer form. It has three broad parts:
- Firstly, you have to enter personal information. Other than your name and email you have to enter IFSC code of the bank and your salary account number.
- In second part, fill in details of your old PF account
- In part three, fill in details of current PF account provided to you.
- The claim can be attested by your previous or current employer. It takes some time for their end to do it so.
- After the form is correctly filled in, you can click preview to see if the information is correct. Or else modify it accordingly.
- After ensuring all the information is correct, enter the captcha and get PIN. Also, click “I Agree”.
- After entering the PIN, the claim transfer is initiated.
- You can also check the status of your funds’ transfer through the portal. In the case of any hitches, you may enquire at the previous/ current employer end or write to EPFO directly.
How easy is it right; so start the process of PF transfer in an above-said way and enjoy your retirement benefits.