While changing jobs may tempt you with a new role and a new salary, transferring PF money seems like a big hassle. But now this is no longer a hassle, the Employees’ Provident Fund Organisation (EPFO) has made a big change and has started the facility of Automatic Fund Transfer for PF account holders. Therefore, now account holders will not need to request for PF transfer manually when changing jobs.
EPFO has made this process very easy through its automatic EPF account transfer facility. This feature ensures that your EPF balance is transferred from one employer to another without any form filling or paperwork. The process has become very efficient now, with regular SMS or email notifications updating you about the transfer status.
What is EPF Automatic Transfer Facility?
The EPF Automatic Transfer facility allows you to seamlessly transfer your EPF balance from your old employer to the new employer when you change jobs. Earlier, employees had to manually apply for the transfer of their EPF funds, but with this facility, the transfer is now initiated automatically when you link your Universal Account Number (UAN) with your new employer.
This ensures that your EPF account remains consistent throughout your career, making it easier for you to manage retirement savings.
How does the Automatic Transfer Facility work?
The process of automatic EPF account transfer is quite easy. Let’s know how it works (How Does the Automatic Transfer Facility Work?).
- Universal Account Number (UAN): Every EPF member has a unique UAN. That means no matter how many jobs you change, your UAN remains the same.
- New Employer Registration: When you join a new company, your employer registers your UAN under his establishment on the EPFO portal. This step links your new employment details to your existing UAN.
- Automatic transfer triggered: Once your new employer registers your UAN, the EPFO system automatically starts transferring your EPF balance from your previous employer to your current employer.
- Intimation via SMS or Email: Once the transfer request is initiated, EPFO sends a notification to your registered mobile number and email linked to your UAN, informing you about the status of the transfer.
- Successful Transfer: The EPF balance from your old employer is credited to your new EPF account within a few days.
Terms and conditions for automatic EPF transfer
- For the automatic EPF transfer facility to work, the following conditions need to be fulfilled:
- Active UAN: Your UAN should be active and linked to your old and new employers.
- Aadhaar Verification: Your UAN must be verified with Aadhaar. This ensures that your identity is valid across all employers and helps in smooth transfer of funds.
- Mobile number and email: Your mobile number and email must be linked with your UAN to receive notifications and updates sent by EPFO.
- Previous EPF Account: Your UAN in your old EPF account should be correctly mapped and updated with required KYC details.
If any of these conditions are not met, you may need to raise the transfer request manually through the EPFO portal.
What if automatic transfer doesn’t work?
In some cases, automatic transfer cannot be initiated due to discrepancies in UAN linking, KYC details or other factors. If automatic transfer does not work, here is what you can do:
- Update your UAN details: Make sure your UAN is correctly linked with your Aadhaar, PAN and bank details on the EPFO portal as incomplete KYC may lead to delay in transfer.
- Manual Transfer Request: If the automatic transfer fails, you can log in to the EPFO member portal and apply for EPF transfer manually under the ‘One Member One EPF Account’ service.
- Contact EPFO: If the issue persists, you may contact EPFO help desk or visit the nearest EPFO office for assistance.
To check the status of your EPF transfer, follow the steps given below:
- Visit the EPFO portal: Log in to the EPFO member portal using your UAN and password.
- Go to ‘Track Claim Status’: To check the status of your EPF transfer request, go to the ‘Track Claim Status’ option on the portal.
- Check SMS/Email: Keep an eye on your registered mobile number or email for notifications from EPFO regarding the status of the transfer.
EPFO’s automatic EPF account transfer facility has made the process of switching jobs easier for employees. If you are also going to join a new job soon, make sure that your UAN is up-to-date and linked to KYC details to take full advantage of this service.
