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EPFO Transfer Rules

EPFO Transfer Rules: Many times employees feel difficult to transfer their PF (Provident Fund) after changing the job. But now, the Employees Provident Fund Organization (EPFO) has made this process online and simple. Now employees can transfer their PF balance to a new company without any hassle, which increases their savings and the financial future is secured.

Online PF transfer process: Now you do not need to undergo a long process to transfer PF from the old company to a new company. Just follow some simple steps:

Activate UAN – First of all, make sure your universal account number (UAN) is active and is link to your Aadhaar card, bank account and mobile number.

Login on the EPFO portal-EPFO member portal (unifiedportal-mm.epfindia.gov.in/memberinterface/) go and login to your UAN and password.

Choose the ‘one member a PF account’ service – after that you will get the option to request transfer, through which you can transfer your PF.

Verify the information – You have to confirm your personal information and employment details.

Certified via OTP – Next, you will get OTP on the registered mobile number, using which you have to certify the process. Now you have to submit the transfer request, and your PF account will be transferred to the new company.

EPFO Transfer Rules

It is necessary to note that the date of ‘exit’ should be updated by your old employer in the system. This can be done through the ‘Management> Mark Exit’ option of the EPFO portal. Only one transfer request can be made, so make sure that all information is correct.

Benefits of PF Transfer

• Benefits of compound interest – Transfer to PF provides compound interest, which increases your fund rapidly.
• There is no unnecessary deduction – transferring no unnecessary deduction under pension rules.
• Tax Savings – By keeping the same PF account, you can also avail tax savings.

Thus, your PF transfer time has reduced through EPFO’s new online system and this process has been made much more simpler.