How to Transfer PF Online: A Complete Guide for Employees

Open a DBS Bank Account Now

A Provident Fund (PF) is one of the most reliable long-term investments, offering assured returns to employees. Understanding what PF is and how to manage it effectively are essential steps in securing your financial future. Whether you want to know how to transfer PF to different companies when you switch jobs or consolidate multiple accounts, it’s easy and simple with the introduction of UAN.

In this blog, we will guide you through the meaning and importance of PF, process of transferring PF online, and some additional options like opening an online savings account or a Fixed Deposit online to grow your wealth.

What is PF?

A Provident Fund (PF) is a government-regulated retirement savings scheme where both employees and employers contribute a percentage of the salary. There are two types of PF accounts:

• Employee Provident Fund (EPF): Meant for salaried individuals, offering an interest rate of 8.15% annually.
• Public Provident Fund (PPF): Open to all Indian citizens, offering an interest rate of 7.1% p.a.

The PF ensures financial security post-retirement, and tools like UAN make it easier to consolidate and track your funds.

The Importance of UAN

The Universal Account Number (UAN) is a unique 12-digit number that links all your PF accounts. It is a one-stop solution for employees who want to track their PF contributions and manage transfers across jobs. To start the process of transferring your PF account, ensure you have a UAN. You can easily get UAN Number online by visiting the EPFO portal. UAN not only consolidates multiple Member IDs but also makes it easier to manage PF-related transactions.

How Can I Transfer My PF Account?

Earlier, the process of transferring PF was tedious and time-consuming, however after the introduction of UAN, the process of transferring has become much easier and quicker. Before we dive into commonly asked questions like ‘how to transfer PF online’ or how can I transfer my PF account to another account, it’s important to know the eligibility criteria and requirements.

Pre-requisites for PF Online Transfer:

1. Ensure your UAN (Universal Account Number) is activated on the UAN portal, and the mobile number linked to it is functional.
2. Your bank account details, including the IFSC code, should be correctly updated under the UAN seeding. Linking Aadhaar with UAN is essential, but linking PAN is not mandatory for transfer claims.
3. The e-KYC must be approved by your employer.
4. Both your previous and current employers should have digitally registered their authorised signatures with the EPFO.
5. The PF account numbers of both your previous and current employers must be correctly updated in the EPFO database.
6. Only one transfer request can be submitted for a previous member ID.
7. All personal and PF account-related information displayed on the EPFO portal must be accurate.

Open a DBS Bank Account Now

Step-by-Step Guide to Transfer Your PF Account

Step 1: Visit the EPFO unified portal and log in using your credentials. 

Step 2: Navigate to the 'Online Services' section and click on 'One Member – One EPF Account (Transfer Request)'. 

Step 3: Verify the personal and PF details linked to your current employment. 

Step 4: Click on ‘Get Details’ to view the PF account information from your previous employment. 

Step 5: Choose either your current or previous employer for claim attestation, depending on the availability of the authorised signatory with a Digital Signature Certificate (DSC). Enter the Member ID/UAN for the selected option. 

Step 6: Click ‘Get OTP’ to receive a one-time password on the mobile number registered with your UAN. Enter the OTP and click on submit. 

Step 7: Once submitted, you will receive a Tracking ID along with PF account details. Print out Form 13, sign it, and submit it to your employer within 10 days. 

Step 8: Your previous employer will process and approve the claim, forwarding it to the EPFO. You will receive SMS updates once the employer and EPFO approve the transfer request. 

By following these steps, you’ll know exactly how to transfer PF online and ensure a smooth transition between accounts.

Documents Required for PF Transfer:

1. Valid ID proof (Aadhaar card, PAN card, or driving licence)
2. UAN
3. PF account number
4. Details of your current employer
5. Bank account details
6. Current and previous PF account numbers
7. Establishment number

Additional Tips

While managing your PF, consider diversifying your financial portfolio with an online savings account or a Fixed Deposit online. For example, DBS Bank offers:

• Online savings accounts: Earn interest rates up to 7% p.a. with easy access to your funds.
• Fixed Deposits online: Enjoy attractive interest rates up to 7.5% p.a. with flexible tenures.

Both options provide liquidity and ensure your wealth grows alongside your retirement savings. Opening an account is simple—just visit the DBS Bank website or your nearest branch.

Conclusion

Understanding what is PF and how it contributes to your financial stability is essential. With the availability of UAN, the process of ‘how to transfer PF online’ has been made straightforward, even for those wondering how I can transfer my PF account to another account. Additionally, financial tools like online savings accounts and Fixed Deposits online can complement your PF by offering additional opportunities to grow your wealth. By integrating these strategies, you can ensure a robust and secure financial future.

Frequently Asked Questions (FAQs) - Transfer PF Online

1. Do I need to transfer my PF to a new company?

   Yes, transferring your PF when changing jobs to maintain continuity and grow your retirement savings. You can initiate this process via the EPFO portal.

2. What are the rules for PF transfer?

   To transfer your PF, ensure that your Universal Account Number (UAN) is active and linked with Aadhar, PAN, and bank details. Both previous and current employers should have registered digital signatures with the EPFO.

3. How can I link my old PF account to my new company?

   To link your old PF account to your new employer, log in to the EPFO Unified Portal, navigate to ‘Online Services,’ and select ‘One Member – One EPF Account (Transfer Request).’ After verifying your details, choose either your previous or current employer for attestation. This process ensures your PF accounts are seamlessly linked.

4. Is Form 13 mandatory for PF transfer?

   Yes, Form 13 is required for PF transfers. However, if you opt for an online PF transfer, the form is auto filled and submitted digitally.

5. Is it possible to opt for employee’s provident fund transfer without the company’s approval?

   No, employer attestation is required for PF transfers. You can select either your previous or current employer for verification during the process.

6. How many online PF transfer requests can an individual submit?

   Only one online transfer request for PF can be submitted per previous PF account. Double check all details before applying to avoid delays.

Open a DBS Bank Account Now

*Disclaimer: This article is for information purposes only. We recommend you get in touch with your income tax advisor or CA for expert advice.