The Government of India will pay the employer and employee contribution to the EPF account of employees for another three months from June to August 2020. The benefit is for establishments with up to 100 employees and where 90% of those employees draw a salary of less than Rs 15,000 per month. The contribution to EPF is reduced to 10% from 12% for non-government organizations.
Employee Provident fund (EPF) is an ideal investment option for any salaried individual, owing to its E-E-E (exempt-exempt-exempt) nature. This means investment in EPF, interest from EPF, and withdrawal from EPF after 5 years is exempt. In this article, we will discuss how to do PF transfer online.
How to Transfer EPF Online
Steps to transfer PF online
There is a possibility that an employee might find better job offers and shift companies in his/her pursuit for career growth. While changing jobs is easy, transferring the EPF can be a hard task, involving time and effort on the member’s part. To minimize the effort involved, the government has introduced online EPF transfer. Individuals who wish to transfer their EPF need to follow these basic steps.
Transferring your Employees’ Provident Fund (EPF) account from your old employer to a new employer is no more a hectic task now. The Employees’ Provident Fund Organisation (EPFO) has simplified the process to such an extent that an EPF account holder can now transfer EPF online by logging in at the Unified EPFO member portal — unifiedportal-mem.epfindia.gov.in/memberinterface/. To make it more simple for the EPF account holders, EPFO has unveiled step by step guide from its official Twitter handle.
Here is the step by step guide unveiled by the EPFO
- Login at the official Unified EPFO member portal — unifiedportal-mem.epfindia.gov.in/memberinterface/;
- Log in with your UAN and password;
- Go to ‘Online Services’ and click ‘One Member — One EPF Account (Transfer Request)’
- Click at ‘Get Details’;
- Your PF account details of previous employment would appear;
- Choose either previous employer or current employer for attesting form;
- Click at ‘Get OTP’ to receive OTP on UAN registered mobile number;
- Enter the OTP received on UAN registered mobile number; and
- Click at ‘Submit’ option.