How to transfer your provident fund from company managed PF Trust to EPFO? Steps explained

Transfer of PF accounts is required when an employee moves from one company to another. In such a case the member has a previous PF Account and a present account and the transfer is affected to the present account from the previous one. Transfer of PF accounts is also necessitated when members wish to consolidate multiple PF accounts into one. This ensures that there is continuity of service, funds are tax-free and pension benefits are maintained.

Why PFs are transferred

The provident fund money is a source of income after retirement. Transferring the PF amount instead of withdrawing gives the member the benefit of compounding of funds. It works in a way that if a member does not withdraw his PF money on change of job and gets it transferred to his new account then the same money would get doubled.

PF transfer lets the past service be transferred into the current member ID. If the total service is more than 5 years then TDS is not charged on PF withdrawal. By clubbing past service, a member may cross the 5 year mark thus saving on TDS. Members are eligible for pension benefits if they have served for more than 10 years. Transfer of PF accounts ensures that the previous services do not lapse and continue to be added to the future employment.

Filing PF transfer claim

The EPF member must be registered on the member portal to submit an online transfer claim application. Members should submit a Transfer Claim Form (Form 13) to the Trust while sending another Transfer Claim Form (Form 13) to the PF Office for transferring the service details under the Pension Fund to the new account. As members file an online claim on the Portal, they have the option to download Form 13 and later physically submit it to the Trust.

Information needed for online PF transfer

The employee should have activated his Universal Account Number (UAN).

The Aadhar number and bank account of the employee should have been seeded against the UAN.The mobile number used for activation should be active as OTP will be sent to the number.The date of exit for the previous employment must have been entered. The employer should have approved the e-KYC.

Steps to transfer PF from trust to EPFO

Log in to the EPFO Unified Portal.Click on One Member – One EPF Account (Transfer Request)' under online services.Verify personal information and PF account for present employment.Click 'Get Details' for PF account details of previous employment.You can choose either your previous employer or current employer for attesting the claim form.Click on 'Get OTP', enter the OTP and click on Submit.

The system often generates two versions of Form 13 once you submit the online request. One moves online to the EPFO to transfer your pension service details. Form 13 will be available for download in PDF format. This needs to be printed, signed and submitted physically to the Trust of your previous employer.

The Trust processes Annexure K once it receives your physical Form 13. Annexure K is an important document which details your total accumulation, interest and service history. The Trust uploads the Annexure K to the EPFO portal and sends the actual funds to the regional PF office.

How to check if PF amount has been transferred?

Members can check this by viewing their passbooks. The member has to log in to his member unified portal and go to View Passbook. He must then enter his UAN, password and captcha to log in once again. The member can then view the passbook of all his MIDs. If the PF has been transferred then the same will be shown as a credit entry in the latest passbook.