Withdrawal or Transfer of Employee Provident Fund

In our earlier post Basics of Employee Provident Fund: EPF, EPS, EDLIS we had talked about What is Employee Provident Fund(EPF), How is it Calculated, What is Employee Pension Scheme(EPS),  Employees Deposit Linked Insurance Scheme (EDLIS), what are the EPF interest rate, how much would one save in EPF,  about the annual statement sent my EPF office  and how one can find it out online. This post will focus on how to withdraw, transfer EPF account.

Withdrawal from EPF,EPS

Q: At the time of change of Job what happens to EPF? Can one withdraw the entire amount?
A: 
Yes, legally it is mandatory to transfer EPF Account at the time of job change. But, people generally don’t do it; instead of transferring, they withdraw the amount.

In case of EPS, if the service period is less than 10 years, you’ve option to either withdraw your corpus or get it transferred by obtaining a ‘Scheme Certificate’. Once, the service period crosses 10 years, the withdrawal option ceases.

Q: Are there in any tax implications, if I withdraw the EPF balance at the time of a Job change?
A:
 In case you are a member of recognized provident fund it depends on if contribution is over 5 years or not, including transfers from different companies.  For ex: an employee who has worked with X company for say 3 years, then he resigned from that organisation and joined Y company, wherein he worked for 2 years, then resigned from there to join establishment for 2 years but during these 7  years of service he has not withdrawn but transferred his Employee provident fund, then we say continuous service of 7 years.

If you withdraw before completing a period of 5 yearsthen all your previous years income gets recomputed as if the fund was unrecognized from the very beginning  (i.e., the tax benefits you received on your own contribution u/s 80C/88 in earlier years will get forfeited) and further the employer contribution and interest received will be added to your current income subject to relief under section 89. In other words Payment received by the individual in respect of the employer’s contribution along with the interest accrual thereon is taxed as “salary”. Interest on the employee’s contribution is taxable as “other income”. Payment received in respect of the employee’s own contribution is exempt from tax (to the extent not claimed as a deduction earlier).

I-T provisions provide that the trustees of a recognised PF or any person authorised by the regulations of the fund to make the payment of the accumulated balance to the employee should deduct tax at source(TDS) while paying the amount. Further, the person liable to deduct tax has to issue the certificate of tax deducted at source (Form 16) within the specified time frame to the employee depicting the details of taxes withheld from the accumulated PF balance and also comply with other salary-related compliance necessities. Ref:Taxguru.in: Withdrawal from Provident Fund (PF) Account before Completion of Five years taxable?(Mar 2012)

So the next time you think of withdrawing your PF, you must as an individual also assess whether the same is taxable or exempt. More such queries are also on onemint:Tax on Provident Fund Withdrawal(Mar 2011) or Taxguru.in: Withdrawal from Provident Fund (PF) Account before Completion of Five years taxable?(Mar 2012)

Q. How can you withdraw the EPF?

Employee can withdraw from EPF by filling Form 19(pdf)  which is available with the HR department of his ex-employer or can download it from EPFI webpage of download forms. One can withdraw only after  a waiting period of two months after resigning. The rules are that an employee should not be in employment for two months after resigning if he has to withdraw his P.F amount. Form is submitted to the regional provident fund Commissioner office after which the employee receives his amount along with interest within a period of 90 days.

Q. Are Withdrawl of EPF and EPS related?(Ref:Citehr:2007)

No Eps and EPF are not linked . You can withdraw the PF once you leave the organization after filling Form 19. In case of EPS, if the service period is less than 10 years, you’ve option to either withdraw your corpus or get it transferred by obtaining a ‘Scheme Certificate’. Once, the service period crosses 10 years, the withdrawal option ceases .For pension, withdarwal benefit, scheme certificate etc. application should be through ex-employer. For pension, Form 10D(pdf format) is to be used. For withdrawal benefit & scheme certificate fill Form 10 C(pdf format) which is available with the HR department or one can download it from EPFI webpage of download forms

Q.Is it possible to commute pension fully or partly under EPS?
A: Commutation of Pension means payment of lump sum amount in lieu of a portion of pension surrendered voluntarily by the pensioner based on a duration of period in relation to the age. Earlier there was a provision under EPS allowing commuting of one third of monthly pension by paying 100 times the original monthly pension. However, the amended scheme w.e.f 26 Sep’ 2008 doesn’t allow it anymore. But if  interested in knowing about Commutation of Pension Government of Tamil Nadu Directorate of Pension webpage can be read.

Articles that might be helpful: Hub:How to withdraw your provident fund or PF in India?(2010)

Q: How do I know the status of my withdrawal application?
A: 
Visit webpage Claim Status on epfindia.com. Select the EPFO Office where your account was maintained and furnish your PF Account number. Document Know Your Claim Status (pdf format) lists the steps in detail with images at each step. Please be aware of the tax implications of withdrawal.

Transfer of EPF account

How to transfer EPF? 

Ideally, you should initiate the process of transferring your EPF balance as soon as you join your new organization and are allotted a new PF account number, which is an alphanumeric number.  Quoting from earlier post Basics of Employee Provident Fund: EPF, EPS, EDLIS PF format is :

EPFO Office Code/Establishment Code(Max. 7 Digits)/Extension(Max. 3 digits)/Employee Account Number (Max 7 digit)(Earlier it was EPFO Office Code(first two letters ),  Employer’s/Company code( 5 digits)/ Employee’s Account Number . In this case you can search the new Code at EPFI Establishment Information Search This is also available on 1st step mentioned above: Member Balance Information Search Your Establishment Code here..)

In the EPF books of account, entry is under the name of employer. When ones take up a new job in the interim, he assume a new identity for the EPF office. A resigned employee who joins another company is left with an option of transferring the his previous PF account to the current PF account, by filling the Form 13(pdf).(Ref:Business Gyan Apr 2009)

  • When an employee joins a new company and he wishes to transfer his previous company provident fund amount, he should inform the HR department or Accounts department of the new company.
  • The employer will issue Form 13, in which the member has to fill the details of the previous company like – name, address, provident fund account number and address of the provident fund office where the account was held.
  • On Form 13, the signature of the previous employer is not required.
  • Once he fills the required details and submits it to the current employer, the current employer will forward it to the provident fund office for the transferring process. The new regional PF office then gets in touch with your previous regional PF office to effect the transfer.
  • The time taken for transferring the fund from one account to other account normally takes about 30-40 days from date of submission.

The process is  same even if you want to transfer your old PF account in the middle of your new job. epfindia.com Form 13 (pdf format)

What are Problems Faced in withdrawing /transferring EPF/EPS and the remedies.(Ref:Business Gyan Apr 2009)

On many occasions, members face problems in withdrawing the provident fund monies. Some of the normal reasons for the problems and the solutions to overcome these are quoted here below:

Mismatch of Signature of the employer: Employer should inform the PF office through a formal letter authorizing the signature of the concerned authority. If the PF officer is still not convinced with this letter, a fresh application has to be submitted again.

Mismatch of Signature of the member :If the signature mismatches or they have changed their signature, they need to inform the provident fund office through their employer. If the PF officer is still not convinced with this letter, a fresh application has to be submitted again.

Mismatch of Provident Fund Account number of the member: If the PF Account number has been mentioned wrongly by the member, then the application will be returned back to the employer. The employee has to correct the details and get it counter-signed by the employer.If the PF Account number has been reported wrongly by the employer in their annual return, then it needs be corrected through a formal letter to the PF department explaining the problem and correcting the same.

Incorrect bank account details furnished by the member: The correct details with regard to account number, name of the bank, branch address, MICR code of the bank (MICR is a 9 digit number printed on the cheque leaf, next to the cheque number) have to be filled in again and re-submission required.

 Incorrect address given by member: The correct details have to be filled in again and re-submission required.

 Mismatch of date of joining / resignation: If the date of joining / resignation has been mentioned wrongly by the member, then the application will be returned back to the employer. The employee has to correct the details and get it counter-signed by the employer.

Communication from PF department while processing the request would not have reached the employer :The employer / employee needs to check with the PF office and find out the reason for not receiving the communication. If not traceable, then a request has to be made to the PF office for re-sending the communication.

Failure of employer to remit the PF amount recovered from members to PF Account: It is the duty of the employer to remit the PF monies (which are recovered from employees) to the authorised banks for the credit of PF department. It is a statutory violation if the recovered monies are not remitted on time.

If the employee comes to know that the employer has not remitted the PF monies that are recovered from him, then he can lodge a complaint to the PF office against the employer insisting for the recovery.

Member might have changed his / her official name and the same has not been informed to the provident fund office: If the employee has changed his / her name and the same has not been informed to the PF office, then the application will be rejected when the PF office compares the data with the returns being filed by the company. In such a situation, the concerned employee has to request through a formal letter informing about the change in name and also, attach the notification copy of the Gazette publication.

Change in Authorised Signatory of the employer when the application is in process: Sometimes, the authorized signatory would have been changed when the application is in process and it would lead to rejection of the application. In such a situation, the employer has to get the application re-signed by the concerned authorized signatory who is active at the appropriate period of time.

What if EPF is not transferred?(Ref:Livemint May 2010:Employee provident fund is for keeps, don’t withdraw it midway)

The good news is that even if you don’t transfer your previous balance, your previous accounts are live and accessible. You can withdraw or transfer the balance to your current PF account.

However, remembering your employer and your EPF number may not be easy. So, keep all EPF slips. Says Amit Gopal, vice-president, India Life Capital Pvt. Ltd, an investment and legal consulting firm: “After a considerable waiting period, EPFO (Employees’ Provident Fund Organisation) will transfer funds to an unclaimed deposit account. Your funds will not earn interest during that period but once you make a claim, the interest due is paid even for the period your fund was sitting in the unclaimed deposit account. But, according to procedure, to withdraw your money is quite cumbersome. A better strategy is to remember to transfer your account at the time of changing jobs.”

A must read article Transfer of EPF Provident account Balance by Anup Mukherjee is about getting his wife Madhu’s EPF account transferred(2011) . Some great information

EPF withdrawal or Transfer Issue ?

Jagoinvestor article on RTI for EPF Withdrawl and Transfer issue (Mar 2012) talks about how one can file a RTI(Right to Information) if one is unclear about what your EPF status is or if one’s EPF transfer work has even started? Why did one’s EPF money still not credited in  bank account etc etc… You can ask all these questions and you should be getting the 100% right and clear answers within 30 days. The only point here is that you should be doing it the RIGHT way. The three steps to file are:

  1. Buying a Postal Order of Rs 10 from Post Office
  2. Drafting your RTI letter
  3. Sending the RTI letter by Registered Post or Speed Post

The article has details on each of the step, with sample letter ,filing RTI online, filing two RTI applications for Transfer of EPF. Note Before filing the RTI , a good idea would be to file a EPF grievance redressal form online

Should one withdraw or transfer EPF account?

With employer matching one’s contribution and a tax-free guaranteed return of 8.5%,EPS is attractive. If one contribute 12% of his basic plus dearness allowance every month (assuming you are 25 and earn Rs20,000 per month) to your EPF account and your employer matches the sum, by the time you retire, you would be able to save Rs1.38 crore, assuming the interest rate remains at 8.5% and you get a modest hike of 5% a year in your salary. As it is cut from salary before it is credited to our account, it becomes forced savings. We recommend you to transfer EPF account and not withdraw.Let Compounding, eighth wonder of world do it’s magic.

References:EPFO website, TaxGuru.in: FAQ on EPF, TheMoneyQuest: EPS EPF Facts you should know about.

Related Posts:

In this article we have tried to explain the process of withdrawing or transferring Employee Provident Fund(EPF), Employee Pension Scheme(EPS). We hope it was helpful. If there is an error, mistake, some information is missing please let us know. Did you withdraw or transfer your EPF account?  Please share your experience, it will benefit others.

54 Responses to Withdrawal or Transfer of Employee Provident Fund

  1. Raj Kishore says:

    Hi Sir,

    Can a present company transfer an employees previous pf amount to current current company Using by UAN number. If so or if not….. what are the procedures at present I would like to know. If a present employer can transfer easily of an employees previous PF amount to their current company…… Can they present company transfer the amount without any consent of previous company ?

    I need as on date updates 26-03-2015

    • Kirti says:

      Hello Sir,
      Till Oct 2014 every employee had a Provident Fund (PF) account number which was associated with the employer. Change of job meant another Provident Fund number. It involved transferring from one account number to another. Multiple account numbers have been a major area of concern as a majority of grievances of employees are related to transfer of funds from one account number to another.

      To address this problem EPFO has launched a Universal Account Number (UAN) driven Member Portal to provide a number of facilities to its members through a single window. Member has to activate his registration to avail various facilities such as UAN card download, member passbook download, updation of KYC information, listing all his member ids to UAN, file and view transfer claim. It is a major improvement by EPFO.

      How will UAN help you?
      No need for fund transfer: Earlier, transferring EPF account from one employer account to another was a tedious process. But the UAN will do away with the need to transfer your funds at all. All you have to do is furnish your UAN and KYC details to new employer. Once the new employer verifies these details, the money from the older account will get transferred to the new account. But for old accounts (opened before the allotment of UAN), you still need to apply for funds transfer either in digital or physical form.
      No employee involvement in withdrawals: At present any request for EPF withdrawal has to be signed by your previous employer and then sent to the EPFO. There would be no need for transfer requests as money lying at your previous account would automatically get transferred to your new account once your present employer verifies your KYC details.

      So if you have a UAN number you can transfer your old EPF account to new employer. Our article UAN or Universal Account Number and Registration of UAN explains it in detail.

  2. Raj Kishore says:

    Hi Sir,

    Can a present company transfer an employees previous pf amount to current current company Using by UAN number. If so or if not….. what are the procedures at present I would like to know. If a present employer can transfer easily of an employees previous PF amount to their current company…… Can they present company transfer the amount without any consent of previous company ?

  3. Nikhil says:

    Hi ,
    I have currently working in pune. I have already resigned and going to start my own business.I heard that there is some new rule implemented by govt and we can’t withdraw amount from my PF account. My pf account is in Mumbai thane and I am working with this company from last 7 years.

    Thanks in advance for your help.

    • admin says:

      Thanks Nikhil for your query.
      It is considered illegal to withdraw from EPF if one is working. As you have left the job then you can start the withdrawal process after two months of leaving the job

  4. anil kumar b says:

    I have worked incentral Govt organisation for 5 years. after that i resigned and joined in other PSU organisation. My PF amount is maintaining by Central Recordkeeping Agency(CRA, NSDL). I want to withdraw my amount. kindly suggest me in this regard.

    • admin says:

      From what I found out, Central Recordkeeping Agency (CRA) is the agency for the New Pension System (NPS). The NPS was introduced by Government of India for its new recruits (except the Armed Forces) w.e.f. January 1, 2004. More information on NPS is available at Wikipedia:NPS and NSDL:CRA
      NPS scheme is structured into two tiers:
      Tier-I account: This NPS account does not allow premature withdrawal and is available from 1st May, 2009
      Tier-II account: The tier-II NPS account permits withdrawal.
      As NPS is different from EPF different rules would apply. Please us know if you know something different.

  5. anil kumar b says:

    I have worked in a central government organisation for 5 years. I resigned and joined in some other organisation. My PF amount is maintaining by central Recordkeeping agency(CRA, NSDL). I want to withdraw my PF amount. Please suggest me in this regard.

  6. Deval says:

    Very Nice Article !!
    Please suggest what should I do? Here is my situation:
    I worked for HP Bangalore for 4 years (HP maintains HP’s PF Trust), after that I left HP and did Full time MBA (Duration- 2 years). Now I joined a new company in Gurgaon which created my new PF account with Govt. EPF.
    Since my amount is still with HP’s Trust(This is 6th Year), should I transfer my amount to new PF account?
    Or Should I withdraw PF amount?? In the case of withdrawal, will my amount attract taxes as I completed only 4 years with HP( For exclusion of taxes it is mandatory to complete 5 year membership with trust) or Zero taxes as I completed 6 year of membership (4 years job + 2 years MBA)?
    Since I skeptical of EPF transfer from one company to another ..it takes hell lot of time and then also no guarantee that your amount will get transfer and what happen if I switch to one company to another ..all the time my money will be stuck..

    • admin says:

      Thanks Deval.
      As discussed in our article Withdrawal from EPF,EPS
      In case you are a member of recognized provident fund it depends on if contribution is over 5 years or not, including transfers from different companies. For ex: an employee who has worked with X company for say 3 years, then he resigned from that organisation and joined Y company, wherein he worked for 2 years, then resigned from there to join establishment for 2 years but during these 7 years of service he has not withdrawn but transferred his Employee provident fund, then we say continuous service of 7 years.
      So you would have only 4 year of membership.
      Don’t be so skeptical of EPF transfer, with automation it is getting faster and transparent.

  7. Ruchi Mungre says:

    Hello,

    I am facing a serious typical case of PF withdrawal. I had left my previous organisation in July 2011 and submitted PF withdrawal form for the same. From last 7-8 months company is telling me that the form is in process, but now I came to know that in my account, they had deposited some other employee’s amount, because of which I cannot withdraw my amount.

    Can some one please help me in this. Now what should I do to rectify this problem.

    • admin says:

      It seems RTI is one of the alternative that you can try.
      As mentioned in EPF article,
      Jagoinvestor article on RTI for EPF Withdrawl and Transfer issue (Mar 2012) talks about how one can file a RTI(Right to Information) if one is unclear about what your EPF status is or if one’s EPF transfer work has even started? Why did one’s EPF money still not credited in bank account etc etc… You can ask all these questions and you should be getting the 100% right and clear answers within 30 days.
      Please go through the steps in detail if interested in filing RTI.

      Best of Luck – Hope you are able to withdraw your EPF. Please let us know about your actions and status updates, as help for readers.

  8. Hello! I just now would want to give a large thumbs up for your great information you may have here during this post. I’ll be returning to your blog to get more detailed soon.

  9. Rajesh E P says:

    Hi

    I worked in one company in Bangalore from Nov 2008 till March 2010.In April 2010 my company transferred me to its sister concern and their they created a new account.My new company themselves initiated the PF transfer process. My admin in the first company informed me in march 2011 that my pf amount got transferred to new account.When I checked my PF balance in old account i got the message that my account is settled.Then i checked the claim status of my old account, it shows that transfer for account got approved.In May 2011 i left my second company and in may 2012 i submitted the application to withdraw my PF. within 23 days i got the message that amount is credited in my bank account. But the amount that got credited was much less that what it should have been. From the details i have, i understand that they have only credited amount only from my second company. Whatever i transfered is not credited.I checked the claim status of my second account.i could see 2 claim ids. one is for withdrawal which says it is approved and the other for trasfering to new account it says it is under process. Please let me know how to proceed to get my full amount.

  10. ketanmorekar says:

    Hi, i just want to know that i left my service in 2006 and i have not submited my pf form and even not take my seetlement from company but after 6 years i give call to ex-employer for pf they says they do not have any record and u will not get pf. pls suggest me is any other way to get pf after 6 yrs and getting stamp from employer

  11. Munish Katyal says:

    I had worked in a company in Mohali for 6 years and my PF was getting deposited in Chandigarh PF office. I left the Mohali job in July 2010 and joined a company in Noida same month. While joining new job, i choose to transfer the PF account. I filled all the forms in new company and the finance person of company told me that a new PF account will be created with Delhi EPF office and my transfer form is sent to PF office. I was getting the salary from my Noida company and PF was getting deducted from salary.
    Due to some reason, i have to leave the Noida job on August 2011 and i started looking for new job in Gurgaon. I joined a new company in Gurgaon in Nov 2011 and again choosen the option to transfer the previous PF balance.
    I come to know that i can check my PF balance online. So i checked and found that my Chandigarh PF account is still there and not transfered to Delhi PF account (noida job). So currently i am having 3 different PF account, one in Chandigarh (my first job), second in Delhi (second Noida job) and third Gurgaon one.

    What is best for me. Please advice

    • admin says:

      Please consolidate all your EPFs to one. Contact finance dept. of your current job with all the details and they would help you. For they would be submitting the forms for EPF transfer.
      We would be obliged if you can update our readers on what you did.

      • Munish Katyal says:

        I have filed an E-ticket in the company and i got reply:

        Dear Munish,

        Thank you for raising E-Ticket.

        We will not be able to check transfer amount as the PF dept doesn’t entertain third party.

        Hence request you directly contact PF dept directly.

        • admin says:

          Thanks Munish for getting back to us.
          Your company rightly said that will not be able to check transfer amount as the PF dept doesn’t entertain third party. You yourself has checked for your Chandigarh account.
          You should raise the ticket for transferring the old EPF accounts to your new account.

          • Munish Katyal says:

            I have asked about the status of my Form 13 in my current company. If they have forwarded the same. Also i have logged an grievance in EPFIGMS

          • admin says:

            Thanks a lot for updating us Manish. Hope you hear from EPFIGMS - the grievance website of EPF. Keep us posted.

  12. Zaid says:

    I am migrating to another country. I have completed 5 years of service with my current employer. I plan to withdraw my PF after a year (hopefully dollar will cool down a bit by then). Will my PF withdrawal be tax free at that time even if I have moved out of India this year? My company has a trust PF account. I am not leaving the company. I have managed to get a transfer to my company’s office in my new adopted country.

    • admin says:

      Zaid technically it is illegal to withdraw from EPF if one is employed. But we have seen that people are able to withdraw after submitting application after 2 months of leaving the service.
      If you have worked for 5 years then your withdrawl will be Tax-free.
      Please check with your company’s finance dept. and update us. Our readers and we will appreciate it.

  13. vasantha Srinivasan says:

    Withdrawal Of EPF- i was working with Delhi Public School,Nerul,Navi Mumbai from 2006 June to November,2007.I resigned the job by November and now settled in Hyderabad, A.P.The DPS,Nerul said my EPF amount has been credited and check your bank account. Found no amount has been credited via cheque from EPF. Office.When i approached the EPF-Office Washi, gave some details of cheques that have been credited. From the details given it was notived that the Bank account number was not the correct one and this may be the reason obviously the amount has not been credited and not sure it is the mistake of EPF Office or DPS,Nerul management.How everit’s been 5 years now and I have not received any amount till date.N number of request applications through cowrier, registered post email have been sent to both of them. I do not know my EPF account number also as it is been maintained by the School.
    Kindly suggest what can be done, who wpuld be the right contact to approach for this issue.

    • admin says:

      Sorry to hear about your experience Vasantha. I am not sure what steps you can take if the money is transferred and EPF account is closed and you do not even know your EPF number.

      You might try the RTI act. Link at jagoinvestor might help.

      You can learn something from the mistake- Please get all the details related to finance.
      Please keep us updated about your action!

  14. Prateek says:

    Hi,

    I have worked in a company for 22 months and will be going for higher education for 2 years. I have 2 queries :

    1. If I withdraw the PF now and TDS is deducted, even though I am unemployed, my earning this year wont cross the 2 lakh limit by much, so can I file a return and get the refund ?

    2. Also, as it is mentioned, that one should be in service for 5 years. Now, if I dont withdraw the PF, and it is dormant for 2 years when I am studying, will these 2 years also be counted in the 5 years ? Or do I need to be employed for 5 years ?

    Thanks.

    • admin says:

      1. Yes you can file a return and get refund. Please check that if you have claimed some 80C section on EPF that might get reversed and you would have to pay tax on it.

      2. But logically speaking you should be able to transfer your dormant account or make it active and these 2 years would BE counted.
      It’s better if you also talk to your company Finance dept and a Charted Accountant. In any case it would help our readers if you could update us with your findings.

  15. Gaurav says:

    Hi

    I am leaving the company after around 3 years of service, for higher education and will be joining a new job after roughly 2 years.

    My query is can i keep the amount with my current employer and transfer it when i join my new job??

  16. Can i withdraw my pf amount for my grandfather operation purpose in the period of servicing present company.

  17. Niresh says:

    Hi,

    I joined in a company X on 2008. Another company Y acquired X on 2011.

    Company Y created new PF account for me. Now I have 2 PF accounts. Now my company Y asked me to transfer PF account from X to Y.

    I have planned to change the company now.

    Overall I have PF account for 4.5 years only. So if I withdraw the money then I need to pay tax.

    I have questions:
    1. If I change my job immediately to company Z. Can I directly transfer my both X & Y account to Z?

    2. Or else should I transfer account from X to Y and then Y to Z?

    What will be your suggestion?

    Thanks,
    Niresh

    • admin says:

      Our suggestion is transfer both the accounts to Z. No need to go through X to y and then Y to Z.
      Quoting from similar query at policywala
      If you’ve multiple PF accounts, there is a provision by which you can club the PF money from all your previous employer’s accounts and transfer the same to your current employer PF account number through ‘Form 13’. Example – Mohan worked in three companies — X, Y and Z — before joining current employer, W. Mohan will need to submit three separate ‘Form 13’s (for previous employers – X, Y and Z) to current employer, W. The current employer W will then get accumulated PF balances transferred to current PF account number being maintained with W.
      Niresh please keep us updated so that other reader benefit!

  18. vinesh gupta says:

    Hi,
    I have left my old company 1 yrs back and now planning to transfer my pf amount from old company to new company i have heard that it takes about 6 to 8 months to transfer PF amount i have one simple Question what will happen to my transfer request if i leave the current company also before the amount is transferred to my current pf account but request for transfer is processed by current company will it still get transferred or request is cancelled.
    Thanks in advance.

    • admin says:

      Vinesh Now with use of technology it is fast (some even have got in 2-3 months). For an EPFO office your account is with a particular company till it is closed or withdrawn. If you leave the current company the transfer would still get through.

  19. Alok Mishra says:

    Hello,

    Thanks for your wonderful post. Its exactly what I was looking for! But I have a small question for you, if you have the time.
    I resigned from my previous job last year. About 2 months ago, I submitted my PF withdrawal forms at the PF office in Bangalore. Yesterday I got my PF money, but I noticed that its lesser than what I had estimated, After some rough calculations, I found out that the Pension fund money has not been credited.
    I checked the photocopies of the forms again, and to my horror, I found that the bank account number in the pension form (Form 10C) had missed a digit, and thus invalid. As you mentioned above, in this case, I should resubmit the form.

    So now, my question to you is, should I submit both the EPF form (Form 19) and the Pension Fund form (Form 10C), or just the form 10C since I have already got the money for EPF? Because the EPF form had the correct account number in it.

    • admin says:

      Thanks Alok. I must congratulate you for smart move of having photocopies of the submitted form. And congratulations for getting it in 2 months. I am still struggling in getting mine :-(
      Coming to your question, submission of form 10C only should be required. But it’s best to check with the HR dept of your ex-employer. Please keep us updated as it might benefit other readers.

      • Alok Mishra says:

        I went to the PF office at Richmond Circle in Bangalore. They instead gave me a new form called a re-authorization form in which there are fields to fill up for the correct bank details. It also needs to be attested by my previous employer. He also told me that only this form with a cancelled bank account cheque needs to be provided. No need to resubmit the forms again.

        • admin says:

          Thanks a lot for sharing with us. We really appreciate it. You are in Namma Bengalru -that’s good to know.
          Good to see that you took the action. Hopefully you will be rewarded soon!
          Googled and found that Reauthorization form needs to be submitted when the bank account number mentioned in form is Invalid as was in your case.
          Could you let us know atleast what you filled in . If you could tell us more about the process others we would be obliged.
          Ref:citehr
          1) What details need to fill in reference section (e.g. intimation No.)
          2) what need to be fiilled in the sentence “AG under copy to the undersigned”.

          • Alok Mishra says:

            The form is pretty straight forward for the bangalore PF office. I never had to fill the details you have mentioned. (maybe they have different forms?) You have to fill up the PF account number that is already known. And of course the correct name, bank address and account number with the seal and signature of the employer who attests to verify your signature in this form which is mandatory. The official there told me that they will fill up the rest of the columns.

          • admin says:

            Thanks a lot Alok for sharing. Just be careful of them filling rest of columns..
            I did the same and in EPS withdrawal form they check want pension certificate. As I did not meet the criteria(service less than 5 years and age less than 50) my application got rejected. Had to submit another form!

  20. aniruddha roy says:

    Hi
    I have worked in a giant mnc for 5 yrs.I have resigned in 2012 and joined in a smaller mnc with a better salary. I have almost 8-9 lacs of epfo deposited in my old company epfo account.
    My question is should-
    1)I transfer my epfo or should i withdraw the money and put the money in a Fixed deposit.
    2)I am scared that probably it is easier for me to withdraw my epfo from a bigger company than a smaller company?
    3) If i didnt withdraw the money but transferred the money in my new company and then I die will it be easy for my family to get that money?
    Kindly suggest my queries.
    Aniruddha

    • admin says:

      Very thought provoking questions and I can understand your confusion. I don’t think size of the company matters in withdrawing from EPF. Though logically it should not be difficult to withdraw money by family after one’s death but as government is involved We never know-how much time would they take? But with EPF moving the online way I think soon that would get streamlined.

      I tried to place myself in your shoes to come up with a suggestion. One question I have is how many more years do you intend to continue working? For 8 to 8.5% tax free return is a good investment procedure with bonus of employer’s contribution too. If young (less than 50) I think I would transfer the EPF account.

      Hope we have been able to help you. Please keep us updated about your decision and how difficult it was to withdraw or transfer money from EPF?

  21. Rajesh M says:

    I had resigned from a job in 2005, & joined business for 2 yrs after which i rejoined a job in 2007. recently in 2011, i resigned & joined another job.
    I had not transferred my EPF from my companny in 2005 till now.
    can i do so now, as i’ve to transfer funds from 2 accounts.
    Pls advise…

    Best Rgds

    Rajesh
    Chennai

    • admin says:

      Yes Rajesh you can do so and Should do so ASAP. Quoting from citehr.com
      An Employee can have more than one PF accounts, But it is always recommended to transfer your amount to new PF account from previous one instead of withdrawing.

      Please keep us updating.

  22. Debayan says:

    Hi,

    Very nice post.

    Say I left company X on 2010 (acc with EPFO)and joined company Y (acc with company’s own trust). Now on 2012 I joined 3rd company Z (acc with EPFO).

    Now I have 2 question ..

    1. Could I have transfered my EPFO (of X) to company Y’s trust, any time say mid of 2011?

    2. As EPFO acc(of X) stopped, now after joining Z, Can I continue with same EPFO (of X). Or should I open New EPFO acc (at Z) and transfer all from earlier EPFO acc(of X) and trust acc (of Y)?

    Thanks!

    • admin says:

      Thanks Debayan.
      Q1: Could I have transfered my EPFO (of X) to company Y’s trust, any time say mid of 2011?
      Yes you could have transferred your EPF in mid 2011

      Q2:As EPFO acc(of X) stopped, now after joining Z, Can I continue with same EPFO (of X). Or should I open New EPFO acc (at Z) and transfer all from earlier EPFO acc(of X) and trust acc (of Y)?
      As EPF account is associated with the employer a new EPF account gets opened on joining a new organization.
      You can transfer from your earlier EPFO account of X.
      Regarding Trust account of Y it’s best you speak to your HR or Finance dept of Y company.
      I hope you know why you are hopping jobs. After a particular time HR doesn’t look Job hopping kindly.
      And when you are changing your jobs you are taking care of your old salary account and tax liability as we mentioned in our article Changing Jobs:Take Care Of Bank Account,Tax Liability

  23. Thirunavakarasu Mudaliar says:

    My Question is whether we can withdraw the pension along with epf when we leave a fir?

  24. [...] our earlier posts on Employee Provident Fund Basics of Employee Provident Fund: EPF, EPS, EDLIS, Withdrawal or Transfer of Employee Provident Fund. For employees who are covered under PF, besides their compulsory contribution to PF(Employee [...]

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