{"id":23013,"date":"2024-02-08T20:04:35","date_gmt":"2024-02-08T20:04:35","guid":{"rendered":"https:\/\/bestbrainz.com\/info\/?page_id=342"},"modified":"2024-02-08T20:04:35","modified_gmt":"2024-02-08T20:04:35","slug":"how-can-i-transfer-my-pf-money-to-my-bank-account","status":"publish","type":"page","link":"https:\/\/forms24.co.za\/data\/how-can-i-transfer-my-pf-money-to-my-bank-account\/","title":{"rendered":"How can I transfer my PF money to my bank account?"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"why\"><strong>Why transfer your PF?<\/strong><\/h2>\n\n\n<p class=\"wp-block-paragraph\">Once an individual starts his career by taking up employment in any of the PF registered organization, an employee would be registered for PF purpose and both employee and employer contributions to employee\u2019s PF and the fund earns interest till withdrawal. Further, it is not uncommon especially in early or mid-years of the career, to switch job for various reasons with or without break. In such scenarios, what happens to the PF account of the employee already created with the previous employer?&nbsp;The employee will have two options in such cases.<\/p><div id=\"forms-3238547971\" class=\"forms-atf forms-entity-placement\" style=\"margin-top: 15px;margin-bottom: 20px;\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-9198760278752355\"\n     crossorigin=\"anonymous\"><\/script>\n<!-- Responsive ads atf -->\n<ins class=\"adsbygoogle\"\n     style=\"display:block\"\n     data-ad-client=\"ca-pub-9198760278752355\"\n     data-ad-slot=\"8381596201\"\n     data-ad-format=\"auto\"\n     data-full-width-responsive=\"true\"><\/ins>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/div>\n\n\n<ul class=\"wp-block-list\"><li>Employee\u2019s contribution with interest can be withdrawn if the employee continues to be on break for up to 60 days; or<\/li><li>Transfer the balance to the current employer<\/li><\/ul>\n\n\n<p class=\"wp-block-paragraph\">As already mentioned, in order to make it an ideal saving for retirement it is always better to transfer the PF balance instead of withdrawing. This is also advisable from the tax standpoint as withdrawal of PF within 5 years of continuous service attracts tax.<\/p>\n\n\n<h2 class=\"wp-block-heading\" id=\"how\"><strong>2. How to use UAN to transfer PF online?<\/strong><\/h2>\n\n\n<p class=\"wp-block-paragraph\">The Employees\u2019 Provident Fund Organisation (EPFO) has been taking several measures to simplify the operation of EPF account both for employer and employees. Keeping up with technology revolution, EPFO is also striving towards making all the process related to EPF electronic, more specifically PF transfer and withdrawal of PF which are generally tedious and time-consuming.\u00a0EPFO introduced\u00a0Universal Account Number (UAN), which acts as an umbrella for the multiple Member Ids allotted to an individual by different employers. UAN enables linking of multiple EPF Accounts (Member Id) allotted to a single member. UAN offers a bouquet of services like dynamically updated UAN card, updated PF passbook including all transfer-in details, facility to link previous members\u2019 ID with present ID, monthly SMS regarding credit of contribution in PF account and facility for auto-triggering transfer request on change of employment.<\/p>\n\n\n<h2 class=\"wp-block-heading\" id=\"Info\"><strong>3. Info or documents to keep ready before transferring the PF online<\/strong><\/h2>\n\n\n<p class=\"wp-block-paragraph\">While the PF transfer was possible online earlier under \u2018Online Transfer Claim Portal\u2019, with the introduction of UAN, the process of transfer is revised and shifted under \u2018unified portal\u2019. However, in order to make online PF transfer, please ensure the following:<br \/><strong>i.<\/strong>&nbsp;The member should have activated his UAN in UAN portal and mobile number used for activation should also be active<br \/><strong>ii.<\/strong>&nbsp;Bank account and bank IFSC code of employee should be seeded against the UAN &nbsp;Seeding Aadhar number and PAN against UAN is not mandatory for raising transfer claims.<br \/><strong>iii.<\/strong>&nbsp;The employer should have approved the e-KYC<br \/><strong>iv.<\/strong>&nbsp;The previous\/current employer should have digitally registered authorized signatories in EPFO<br \/><strong>v.<\/strong>&nbsp;PF account number of both previous and current employment of an employee should be entered in EPFO database<br \/><strong>vi.<\/strong>&nbsp;Only one transfer request against the previous member ID can be accepted<br \/><strong>vii.<\/strong>&nbsp;Personal information and PF account related information is shown in EPFO should be correct<\/p>\n\n\n<h2 class=\"wp-block-heading\" id=\"Procedure\"><strong>4. Procedure to transfer PF online<\/strong><\/h2>\n\n\n<p class=\"wp-block-paragraph\">Now we know that PF transfer can be made online and above criteria need to be fulfilled. Let us understand the procedure step by step with the help of screenshots:<\/p>\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 1<\/strong><\/h3>\n\n\n<p class=\"wp-block-paragraph\">Login to&nbsp;<a href=\"https:\/\/unifiedportal-mem.epfindia.gov.in\/memberinterface\/\" target=\"_blank\" rel=\"noreferrer noopener\">Unified portal (member interface)&nbsp;<\/a>by using your credentials i.e., UAN number and password<\/p>\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/assets1.cleartax-cdn.com\/s\/img\/2018\/03\/07113834\/Image-0-1.png\" alt=\"Login to Unified portal (member interface) \" class=\"wp-image-18335\"\/><\/figure><\/div>\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 2<\/strong><\/h3>\n\n\n<p class=\"wp-block-paragraph\">After login, click on \u2018One Member \u2013 One EPF Account (Transfer Request)\u2019 under Online Services<\/p>\n\n\n<h3 class=\"wp-block-heading\"><img loading=\"lazy\" decoding=\"async\" alt=\"Image 1 (1)\" width=\"783\" height=\"387\" srcset=\"https:\/\/assets1.cleartax-cdn.com\/s\/img\/2018\/03\/07114050\/Image-1-1.png 783w, https:\/\/assets1.cleartax-cdn.com\/s\/img\/2018\/03\/07114050\/Image-1-1-300x148.png 300w, https:\/\/assets1.cleartax-cdn.com\/s\/img\/2018\/03\/07114050\/Image-1-1-768x380.png 768w\" src=\"https:\/\/assets1.cleartax-cdn.com\/s\/img\/2018\/03\/07114050\/Image-1-1.png\"><strong>Step 3<\/strong><\/h3>\n\n\n<p class=\"wp-block-paragraph\">Verify personal information and PF account for present employment:<\/p>\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 4<\/strong><\/h3>\n\n\n<p class=\"wp-block-paragraph\">PF account details of previous employment would appear on clicking on \u2018Get details\u2019 below.<\/p>\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 5<\/strong><\/h3>\n\n\n<p class=\"wp-block-paragraph\">You have the option of choosing either your previous employer or current employer for attesting the claim form based on the availability of authorized signatory holding DSC. Choose either of the employers and provide member id\/UAN:<\/p>\n\n\n<h2 class=\"wp-block-heading\"><strong>Step 6<\/strong><\/h2>\n\n\n<p class=\"wp-block-paragraph\">In the next step, click on \u2018Get OTP\u2019 to receive OTP to UAN registered mobile number and enter the OTP and click on submit.<\/p>\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/assets1.cleartax-cdn.com\/s\/img\/2018\/03\/07120827\/Image-5-1.png\" alt=\"Image 5 (1)\" class=\"wp-image-18341\"\/><\/figure><\/div>\n\n\n<p class=\"wp-block-paragraph\">The employer will digitally approve your EPF transfer request by accessing employer interface of the unified portal.&nbsp;Fill up&nbsp;<a href=\"https:\/\/www.spmcil.com\/UploadDocument\/Form%2013-Transfer%20of%20EPF%20Account.ef23ef33-f252-4e0e-907c-133b2ed861e0.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Form 13<\/a>&nbsp;with details including PF number from both previous and current employer and download the transfer claim (pdf format). Submit the physical signed copy of the online PF transfer claim form to the selected employer within a period of 10 days.<\/p><div id=\"forms-3539150749\" class=\"forms-content forms-entity-placement\"><div style=\"width: 300px; padding: 20px; margin: 0 auto; border: 1px solid #ddd; border-radius: 8px; background-color: #f9f9f9; text-align: center; font-family: Arial, sans-serif;\">\r\n    <p style=\"font-size: 16px; margin: 0 0 10px;\">Need Information or Confused about Something ? <\/p>\r\n    <a href=\"https:\/\/onlineapplications.co.za\/ask\/\" style=\"display: inline-block; padding: 10px 20px; background-color: #007BFF; color: #fff; text-decoration: none; border-radius: 4px; transition: background-color 0.3s;\">Ask a Question<\/a>\r\n<\/div>\r\n<\/div><div id=\"forms-590871673\" class=\"forms-btf forms-entity-placement\" style=\"margin-top: 15px;margin-bottom: 20px;\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-9198760278752355\"\n     crossorigin=\"anonymous\"><\/script>\n<!-- Responsive ads btf -->\n<ins class=\"adsbygoogle\"\n     style=\"display:block\"\n     data-ad-client=\"ca-pub-9198760278752355\"\n     data-ad-slot=\"5513273173\"\n     data-ad-format=\"auto\"\n     data-full-width-responsive=\"true\"><\/ins>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/div>\n<div id=\"forms-1513663520\" class=\"forms-cpc forms-entity-placement\"><hr>\n<h1>Did You Know : Top 15 Free Online Learning Platforms<\/h1>\n\n<ol>\n  <li>\n    <strong>Free Online Education Degrees : Coursera:<\/strong>\n    <p>Coursera partners with universities and organizations worldwide to offer a wide range of courses. 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It offers a free trial period.<\/p>\n  <\/li>\n<\/ol><\/div>","protected":false},"excerpt":{"rendered":"<p>Why transfer your PF? Once an individual starts his career by taking up employment in any of the PF registered organization, an employee would be registered for PF purpose and both employee and employer contributions to employee\u2019s PF and the fund earns interest till withdrawal. Further, it is not uncommon especially in early or mid-years &#8230; <a title=\"How can I transfer my PF money to my bank account?\" class=\"read-more\" href=\"https:\/\/forms24.co.za\/data\/how-can-i-transfer-my-pf-money-to-my-bank-account\/\" aria-label=\"Read more about How can I transfer my PF money to my bank account?\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-23013","page","type-page","status-publish"],"_links":{"self":[{"href":"https:\/\/forms24.co.za\/data\/wp-json\/wp\/v2\/pages\/23013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forms24.co.za\/data\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/forms24.co.za\/data\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/forms24.co.za\/data\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forms24.co.za\/data\/wp-json\/wp\/v2\/comments?post=23013"}],"version-history":[{"count":0,"href":"https:\/\/forms24.co.za\/data\/wp-json\/wp\/v2\/pages\/23013\/revisions"}],"wp:attachment":[{"href":"https:\/\/forms24.co.za\/data\/wp-json\/wp\/v2\/media?parent=23013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}