How to transfer an old Provident Fund (PF) to a new Provident Fund (PF) account online in 2024

Here’s all one needs to do to transfer the old PF to a new PF account online:

What eligibility and documents are required to transfer PF online?

The introduction of UAN has revised the procedure for transferring PF online from the ‘Online Transfer Claim Portal’ to the ‘unified portal. So, to transfer your Provident Fund (PF) online, one will need to meet the following eligibility criteria and documents:

Eligibility criteria for PF transfers:

• Must be a full-time employee for an organisation under EPFO.
• Hold an activated UAN for the EPF account.
• Verified salary bank account
• Valid DoJ, DoE, and reason for leaving the organisation

Documents required for PF transfer:

• Activated UAN (Universal Account Number)
• Updated PF transfer form: Form 13
• Old and current PF details
• Aadhaar card
• PAN card
• Bank account details for salary deposits
• Current employer details
• Previous employer details

How do I transfer an old PF to a new PF account online?

The Universal Account Number (UAN) is a unique identifying number provided by the EPFO to each employee who contributes to the Provident Fund. It serves as the one point of contact for all PF services and transactions. Here’s a step-by-step guide to transferring Provident Fund (PF) accounts online.

Step 1: Log in to the EPFO website through the Universal Account Number (UAN) and password.

Step 2: After login, navigate and click on ‘One Member, One EPF Account (Transfer Request)’ under the ‘Online Services’ tab.

Step 3: Verify your eligibility to transfer the PF balance to another account.

Step 4: Enter the details of your previous employer, including their name, PF account number, and the state where it is registered.

Step 5: Confirm the accuracy of the details of your previous employer and the PF account number. 

Step 6: Provide the required details of the current employer, that entails their name, PF account number, and the registered state.

Step 7: Confirm the accuracy of the details of your current employer and the PF account number.

Step 8: Review all the details entered in the form and click the “Get OTP” button.

Step 9: Enter the OTP received on your registered mobile number. Click the “Submit” button to initiate the transfer request. After submitting the transfer request, a tracking ID will be generated, which you can use to check the status of the transfer. The PF balance should be reflected in your current employer’s account within a few days of initiating the transfer.

Why does one need to transfer PF?

• Job change: When employees switch jobs, especially if they move to a different company, they might need to transfer their PF account from the old employer to the new one. This ensures that their savings continue to accumulate in one place without disruption.
• Consolidation of PF accounts: Individuals who have worked at multiple organisations might have multiple PF accounts. Transferring these into a single account makes it easier to manage their savings and keep track of the total corpus.
• Maintain account continuity: Transferring the PF account helps maintain the continuity of the account, which is beneficial for the compound interest to grow. It is advantageous because PF accounts that are inactive for a certain period may stop earning interest.
• Avoidance of withdrawal taxes: In certain jurisdictions, premature withdrawals from the PF account may be taxable if drawn before, usually, five years. By transferring the PF instead of withdrawing it, an individual can avoid potential taxes.
• Loan eligibility: The amount in the PF account can be used as collateral for loans for specific purposes like house construction, education, and medical treatment. A consolidated and larger PF account enhances eligibility for such loans.