Step-by-step Guide to Transfer your PF in India

Transferring your provident fund or PF account is necessary when you switch jobs. If you have opted for the scheme with the new employer, you only have to transfer your existing account to the same.

Since your UAN remains the same even when switching jobs, there is no need to create a new provident fund account. Transferring the account only changes your customer ID.

You can transfer your account online through the official portal of the Employees’ Provident Fund Organisation (EPFO).

How to transfer PF online?

The steps to transfer PF online are as follows –

Step 1: Visit the UAN portal and open the member interface there.

Step 2: Log in to your account by entering relevant login details and captcha.

Step 3: After logging in, a detailed page with your email address, account number, and other credentials will be displayed.

Step 4: Next, you have to click on ‘Online Services’ to proceed. From the same dropdown, click on the option ‘One Member – One EPF Account (Transfer Request)’.

Step 5: Under that section, your personal details will be displayed. You have to verify these personal details and click on ‘Submit’.

Step 6: After confirmation, you will find a page that shows a pre-filled PF transfer form from your previously filled account. Now, you have to select the account from which you wish to transfer the money.

Step 7: Click on ‘Get Details’, and you will be displayed a page that asks you to select between your current and previous employer. Select the one as per your requirement, and you will be asked to enter your ID or UAN.

Step 8: After entering those credentials, here is the final phase of confirmation. You have to click on ‘Get OTP’ and a code will be instantly sent to your registered phone number.

Step 9: Enter the OTP on the space provided and submit the request.

Finally, on submitting the request, you will be directed back to the page where personal details and employment history was displayed. Down below the page, you will find a Form 13, which is to be downloaded and signed in the space provided.

The form is then required to be submitted to the employer within the next 10 days of filing the claim. Once your employer approves of the application, the transfer claim will be initiated.

Withdrawal of provident fund

Other than transferring, you can also withdraw your provident fund money online. Not only after retirement, you can withdraw 75% of the balance after 1 month of unemployment and the rest after another month.

When withdrawing, you should know the meaningful ways how you can use your EPF money. For instance, you can open an FD account with the same.

In this regard, Bajaj Finance is a reputed financial institution that offers interest rates as high as 8.35% if you invest in Fixed Deposits. You can also use an FD calculator before investing in planning your finances beforehand, which makes investing here quite undeniably convenient.

You can also withdraw PF corpus for the following reasons –

• Before retirement – Amount restricted to 95% after reaching 58 years of age.

• Purchase/construction of a house – 5 years of service required; amount restricted to 36 times of basic wages + DA.

• Purchase of plot – 5 years of service mandatory; amount limited to 24 times of monthly salary + DA.

• Repayment of home loan – 10 years of service required; amount restricted to 36 times of basic wages + DA.

• Wedding – 7 years of service required; amount limited to 50% of employee’s contribution.

• Medical purposes – Amount restricted to employees share or 6 times the monthly salary, whichever is lower.

Provident fund is one of the long-term investment ideas promising the best profits. It could help you in planning your retirement as well. Hence, make sure you follow the steps of transferring the account appropriately so as to make the most of this option. Although FD meaning is not similar to what the Provident fund offers as an investment scheme, the former can offer better returns as well as flexibility of the investment to investors.