How to Transfer PF Amount to Bank Account Easily Online
How to transfer PF amount to bank account—this is something every working person should know, especially when switching jobs or in urgent need of funds. Imagine you’ve changed your company or are facing a financial emergency and need to access your savings. That’s when your Provident Fund (PF) becomes a financial lifeline.
But how do you make sure your hard-earned PF doesn’t get stuck with your old employer or lost in the system? Don’t worry, we’ve broken it down in the simplest way so that you can transfer your PF amount to your bank account without any stress.
Contents
What is a Provident Fund?
Provident Fund (PF), also known as Employee Provident Fund (EPF), is a long-term savings scheme meant for salaried employees. A portion of your monthly salary is contributed to your PF, and your employer also adds an equal amount.
Upon retirement or resignation, you get this lump sum amount or can transfer it to your new employer’s PF account. EPF is managed by the Employees’ Provident Fund Organisation (EPFO).
Why Transfer Your PF Instead of Withdrawing?
Job changes are common in today’s career paths. When switching jobs, you have two options:
- Withdraw your PF (if you’re unemployed for over 60 days), or
- Transfer the PF amount to your new employer’s account
Why is transferring PF better than withdrawing?
- Keeps your retirement fund growing
- Maintains compound interest benefits
- Avoids TDS and tax penalties on early withdrawals
- Ensures uninterrupted savings
Use of UAN for Online PF Transfers
The Universal Account Number (UAN) is a unique number allotted by EPFO to help consolidate multiple PF accounts across different employers. It simplifies your PF transfers, linking all your accounts in one place.
Thanks to UAN, transferring your PF amount to your new employer’s account or your bank account is now seamless and digital.
Requirements to Transfer PF Amount to Bank Account
Before you begin the process, make sure the following are in place:
- UAN is active and linked with Aadhaar
- Mobile number used for UAN is working
- Bank account is seeded with EPF portal and verified by the employer
- Joining and exit dates from previous job are updated
- EPFO permits only one transfer per Member ID
Step-by-Step Guide: How to Transfer PF Amount to Bank Account
Follow these simple steps:
- Login to the EPFO Member Portal using your UAN and password
2. Go to ‘Online Services’ > ‘One Member – One EPF Account (Transfer Request)’
3. Verify your personal details and present employment PF account
4. Click on ‘Get Details’ to fetch previous employer’s PF account
5. Choose either current or previous employer to attest your claim
6. Enter the OTP sent to your UAN-registered mobile number and click Submit
Take a print of the auto-filled Form 13, sign it, and submit it to your employer within 10 days
The employer will verify and forward the request to EPFO. You’ll get an SMS notification when approved.
Track Your PF Transfer Status
- Go to EPFO Member Portal
- Login using your UAN and password
- Click on ‘Track Claim Status’ under the ‘Online Services’ tab
- View your PF Transfer Claim Status
Documents Needed for Online PF Transfer
Keep these documents ready:
- Valid ID proof (PAN/Aadhaar/Driving License)
- UAN
- Current and old PF account numbers
- Details of current employer
- Salary bank account information
- Updated Form 13
- Establishment Number
Benefits of Transferring PF Amount
- Avoids Tax Deduction on early withdrawal
- Maintains interest accumulation over time
- Easy access to your savings anytime after retirement
- Keeps your financial record clean with EPFO
Disadvantages of Provident Fund
While PF is a great saving scheme, it has a few drawbacks:
- Low Liquidity – You can’t access it freely before retirement or 2 months of unemployment
- Employer Default Risk – Some employers may delay or skip contributions without informing employees
Frequently Asked Questions
Q1. Do I need to submit a signed copy of the claim form to my employer?
Yes, after submitting the claim online, you must take a printout, sign it, and give it to your employer.
Q2. How do I track the PF claim status?
Visit EPFO portal → Login → Online Services → Track Claim Status
Q3. Can I withdraw PF multiple times?
Yes, up to 3 times for emergencies like medical, education, or housing needs.
Q4. Is EPF withdrawal taxable?
Only if withdrawn within 5 years of service. Post 5 years, it is tax-free.
Q5. What documents are required for PF transfer?
You need UAN, ID proof, current and old PF details, bank details, and Form 13.
How to transfer PF amount to bank account is no longer a headache thanks to EPFO’s digitization efforts. UAN has made the process smooth and trackable. So, the next time you change your job, don’t forget to initiate your PF transfer online. It’s safe, fast, and essential for your financial future.
Let your hard-earned money follow you wherever you go!
