How to Transfer EPF Balance Online: Step by Step Guide

When an employee is moving from one company to another, he/she needs to transfer the Employee Provident Fund as well.

The Ministry of Labour and Employment generates a Unified Account Number for each member of EPFO, which is later on assigned to each member by the EPFO. The introduction of UAN has made the transfer process simpler and transparent as the account number remains unchanged.

Employee provident fund or EPF is a monetary benefit and saving scheme managed and monitored by the Employee Provident Organization of India.

Every month, the employee and employer contributes an equal amount of 12% of the salary of the employee towards the EPF corpus. Any business or organization that has more than 20 employees are mandated to register with the EPFO.

Employee provident fund acts as a saving tool and retirement relief for the employees.

Even if an employee fails to transfer the EPF fund to a new account or forgets to merge both via UAN, the account does not cease to operate. Although there might be no contributions made to the old account, it will remain operative and also will gain interest unless it is flagged inoperative.

Once an account is flagged as inoperative, it won’t earn further interest and if the inoperative status doesn’t change for seven years, the EPFO transfers the unclaimed amount to the Senior Citizens’ Welfare Fund (SCWF). This amount will stay with the Senior Citizens’ Welfare Fund (SCWF) for 25 years. If the account holder does not claim this amount after 7+25 years, the amount will be transferred to the central government.

How to Transfer EPF Online? Step by Step Guide

Register on the EPF Member Portal

You need to register to the EPF member portal to initiate the transfer process.

Online Claims Transfer Portal

You should access the Online Transfer Claim Portal to register the claim for transfer of the EPF. The login credentials of this portal is the same as that of the EPFO member portal.

Checking Eligibility

To file a EPF transfer claim online, your previous and new member IDs should be available in the EPFO database. The employer must register the digital signatures of authorized signatories with EPFO on the portal. It is critical to check the eligibility of the online transfer claim before applying. In some cases, submission of Form 13 is also mandatory.

Online Process

Once you check your eligibility and turn out eligible to make the transfer online, click on the ‘Request for transfer of funds’ and enter the PF numbers of your previous and current employer. The claim should be attested online by either your previous or current employer. Here is the step-by-step process of the same.

  • Log in to OTCP Portal
  • Under the CLAIM menu option, click on “Request for Transfer of EPF Account.”
  • The Form shown will be ‘Form 13’
  • Enter Personal Details ( Part A)
  • Enter Previous EPF account details (Part B).
  • Enter your present EPF account details under Part-C of the application.
  • You can either submit the online transfer Claim form to your present employer or your previous employer. Choose either of them.
  • Enter CAPTCHA code and click on “Get PIN”
  • You will get a Pin on your mobile number registered with EPFO.
  • Verify the PIN and click on SUBMIT.

Tracking and Authentication

You can track your application status and progress of your application. Save the printable Transfer Claim Form (Form 13) to your system. You need to sign the form and submit it to the employer to finish the claim process.

The transfer claims can be submitted either by the previous or current employers. The employer is authorized to view all requests, verify and correct the member data, and approve and submit the requests through the portal. If there are any discrepancies in the application form, the employer might edit and send you the revised claim form. Follow these steps to check the status of your claim.

  • Click on ‘CLAIM’
  • Select ‘View status of the Transfer Claims’ from the dropdown menu

Conditions under which you can withdraw from Provident Fund account

The EPFO allows you to partially withdraw money from your EPF corpus under certain conditions. The conditions are – purchase/construction of the house, repayment of a loan, non-receipt of the wage for two months, the marriage of self/daughter/son/brother, for medical treatment of family members etc.

You can withdraw the complete amount from EPF corpus under unemployment situations. If a person is unemployed for a month, he/she can apply for 75% of his/her EPF corpus. The balance 25% can be withdrawn if the member remains unemployed for more than two months.

The withdrawal process also can be done online using your EPFO member portal. Experts suggest not to withdraw from your EPF corpus unless necessary. The recent amendment regarding the EPF claim also covers Covid19 related emergency non-refundable claims.

FAQs

Should I register at the member portal to file a transfer claim online?

Yes. All members are required to be registered on the member portal to file the transfer claim online.

What are the  prerequisites to file the transfer claim?

In order to file a transfer claim,

  • Both previous and present PF account numbers (member IDs) should be available in

EPFO database.

  • The employer must have digital signature certificate of his authorized signatories with EPFO

Can I edit my details available in the EPFO database?

The members do not have the authority to edit or update his/her details such as name of the father, relationship, date of birth of the member etc,  into the EPF database.

Should I submit the hardcopy of the filed claim to the employer?

Yes, the members should take a printout of the claim submitted online via the membership portal and should submit it to the employer after signing it.

How many days will it take for PF transfer online?

Usually the EPF transfer request will take up to 20 days or less (depending on the transaction) from the date of submission of the request.

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About FinanceGAB

Ajeet Sharma is a financial blogger and I am blogging since 2017. Financegab is a personal blog dedicated to personal finance. The main aim of this blog to help people to make well-informed financial decisions.
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