If you are changing jobs and you need to transfer your PF account, then there is no problem in it. Transferring your Employee Provident Fund (EPF) balance while changing jobs has now become even easier due to the online transfer facility of the Employees' Provident Fund Organization (EPFO). Through this facility, employees can transfer their provident fund balance to the new employer without any interruption, thereby securing their retirement savings. This process helps in accumulating the retirement corpus and also provides the benefit of compounding. Apart from this, it preserves the service history, which is important for pension eligibility and avoids unnecessary tax deductions on early withdrawal. Also, it is comforting to know that your financial future is secure when changing jobs.

How is PF transferred?
EPFO has made the PF transfer process easier with the online system available on its member portal. Members have to ensure that their Universal Account Number (UAN) is active and linked to Aadhaar, bank account, and mobile number. After logging in with UAN and password, users can submit transfer requests through the ‘One Member-One EPF Account’ service. In this system, users have to confirm their personal and employment details, select an employer for claim attestation, and authenticate the process with an OTP sent to the registered mobile number.

This simple process not only saves your time but also saves effort. When an employee moves from one company to another, the exit date is updated in the system by the previous employer. This can be done on the EPFO ​​portal through the ‘Manage > Mark Exit’ option. It is also important to note that only one transfer request can be made against a previous PF account.

Check claim status
EPFO also provides its users with the facility to track claim status. If the transfer is processed online, there is no need to submit a physical Form 13. However, if multiple UANs or employment in exempted institutions is involved, Form 13 may be required along with the offline manual process. This ensures that all situations are covered, thereby providing flexibility for multiple job histories.

Benefits of transferring PF instead of withdrawing it
EPFO always advocates transferring the PF account. According to EPFO, transferring the PF amount instead of withdrawing it gives the member the benefit of compounding, which increases the amount in the PF account faster. This method not only helps in increasing the retirement fund but also ensures that the employee retains the financial benefits associated with their service history.

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