Employees Provident Fund
Now on the new member portal of EPFO (Employees Provident Fund Organisation), after changing jobs, salaried employees can use two methods to transfer EPF account balance from their old employer to the existing account. The aim of this new feature is to simplify the process of transferring provident fund balance, reduce paperwork and help employees pool their retirement savings in one place without any delay.
This step has been taken after the major database consolidation and software upgrade of the EPFO member portal, due to which the portal remained closed for almost two weeks. There were several delays in restarting the retirement fund body’s online services for members and employers. EPFO has said on its website that although the services have now started, there may be some delay in PF claims and other service requests during this period.
What are the ways to transfer your PF balance?
Salaried employees can initiate a request for transfer of their EPF balance in one of two ways. However, they will first have to log in to the EPFO member portal using their Universal Account Number (UAN).
Through Request for Transfer of Account section: This option is available in the ‘Online Services’ tab of the EPFO member portal and with this you can easily start the transfer process.
Through the Member Service History section: Under EPFO 3.0, members can view their previous and current job information through the “Member Service History” tab on the portal. This section also shows pending EPF transfer claims and if there is no claim, the status shows “no”. It also provides the option to make a “Service Transfer Claim” through Form 13 by clicking on the “Claim” link. If you do not know your UAN, you can check the number on your latest salary slip or simply ask your employer about it.
How to apply for transfer
Whichever option you choose, you will be redirected to the ‘Online Service/Transfer Request’ page where you can apply for transfer of old account to the existing account by following the steps given below:
- Step 1: Enter your previous employer’s Member ID and other required details, then click on ‘Get Details’.
- Step 2: To verify and submit the request, you will receive an OTP on the mobile number linked to your Aadhaar.
- Step 3: EPFO Member Portal gives information about the existing establishment to which the transfer will be made. Check it out.
- Step 4: Once submitted, EPFO will process the transfer and transfer the balance to your existing EPF account.
What are the benefits of EPF?
EPF is a savings scheme of the government, whose objective is to provide financial security to salaried employees after retirement. Under this scheme controlled by EPFO, both the employee and the employer deposit 12 percent of the employee’s basic salary and dearness allowance in EPF.
According to the EPF-2026 framework, this contribution is limited to Rs 1,800 for both the parties, although they can deposit more money in the scheme as per their wish.
The interest rate of EPF for FY 2025-26 is 8.25% per annum. The government reviews this rate every quarter and calculates it every month on the closing balance of the EPF account, but it is credited annually at the end of the financial year.
