How to close a PF account online? Keeping track of all your past PF accounts is not always easy. While a PF account is tax-free, it also earns interest. In addition to being tax-free, a PF account is often easy to lose track of as people often forget about their previous accounts. However, with EPFO’s helpline, it is as easy as logging on to the website and following a few simple steps.
Transfer PF balance to new employer
When you switch jobs and need to transfer your PF balance to your new employer, you have several options. First, you must complete Form 13(R) and submit it to the EPFO. Then, you can request the transfer of PF balance online. To do so, log in to the EPFO website with your UAN and password. Once you’ve provided the requested details, you can proceed to the next step.
The interest rate on PF deposits has increased from 6% to 8.5% in FY 2016-17 to FY 2020-21. However, this doesn’t mean that you should immediately withdraw your PF balance from your previous employer. It’s important to remember that PF withdrawals from your previous employer will be taxable. Therefore, it’s a good idea to transfer your PF balance before you switch jobs. While you’re at it, make sure to transfer your balance to the new employer.
Once you’ve verified the details of your PF account, you’ll be able to transfer it to your new employer. To do so, login to your EPF account and select the Online Services option. Enter your name, UAN, and previous employer details. To transfer PF balance to a new employer, you’ll need your member ID/UAN. You can also choose the employer that your previous employer closed down.
If you’re switching jobs, you’ll need to submit the form to the EPFO portal. If your UAN is linked to your Aadhaar, the transfer will automatically happen. You’ll also need to submit the first month’s PF contribution to your new employer’s EPFO account. Once this is complete, you’ll receive an SMS from the EPFO confirming that the transfer has been completed.
To transfer PF balance to a new employer, you’ll need to provide your Universal Account Number (UAN) and previous employers’ PF numbers. Once you’ve filled up all the necessary information, you’ll be taken to a page where you can enter your UAN and previous employer’s details. From there, you’ll need to confirm your identity and confirm the current employer’s details. Then, simply click on the “Continue” button to submit your request. Once you submit the request, you’ll get a tracking id for your records.
Withdraw PF amount during lockdown period
Employees’ Provident Fund (EPF) subscribers can withdraw a certain amount from their accounts during a 21-day period – not exceeding the basic income, dearness allowance, and three months of basic salary. However, the lockdown has led to several cases of Covid, a scam where the employees receive an amount far in excess of their actual salaries. The government is attempting to address the situation by relaxing the limits of withdrawals from PF and by providing a facility that will ease the liquidity crisis for employees.
Subscribers can now make withdrawal requests online by providing their UAN number. Once they have this number, they must update their bank account and aadhar details before requesting withdrawal. This is a simple process that can be completed in less than a minute. Then, the PF administrator will process the withdrawal. The resulting amount of money is usually enough for an immediate emergency. However, if you are unable to work or lose your job, you may want to wait until your retirement.
After confirming the withdrawal request, the employer will send you an OTP on your registered mobile number. Enter the OTP and validate your number. Once the verification is complete, you will be redirected to the member details page where you can enter your UAN and select a bank account. After entering your UAN, you will need to enter your address and the amount you wish to withdraw. The transaction will take a maximum of three days.
The Government of India has also announced that employees can withdraw an amount from their EPF account during a lockdown due to the coronavirus pandemic. As part of the relief measures, the government announced a new rule that allows EPF subscribers to withdraw up to 75 per cent of their account balance. Despite the high amount, this withdrawal is a temporary measure designed to help people deal with the difficult times during the lockdown.
To withdraw your EPF funds during a lockdown period, you must first get an active Universal Account Number (UAN). You will also need a working mobile number, as most employees use their UAN to access their account. Then, enter the bank account details to complete the withdrawal. Then, select the option to make a request. When you have completed the form, the EPFO will send the application to the employer to approve.
Apply for PF withdrawal via UAN
To apply for PF withdrawal through UAN, the user must first login to his or her EPF account. To sign in, he or she needs to enter the UAN and password of the EPF account. Then, the user should select the Manage tab. In the KYC section, verify the details provided under the ‘Know Your Customer’ section, and select the ‘Additional Service’ tab to fill in the details. Next, input the last four digits of the registered bank account, and select ‘Yes’ to receive an online certificate.
If an employee does not have a UAN, then he or she should fill up the PF Withdrawal Form 19. This form is applicable to the employees who were made eligible for PF contribution from their employers after 2014. However, if the employee had made contributions before 2014, then he or she may approach the nearest EPFO office for filing a PF Claim Form 19 without a UAN. The employee must also present his or her PF Account Number to the EPFO, along with his or her employer’s attestation.
Employees can also withdraw PF after they change their employer. After the age of 54, an employee can withdraw 90% of his or her account. If the employee is older than 54, he or she can withdraw up to six times his or her monthly salary. If the employee has been in the same job for more than 5 years, he or she can withdraw between 24 and 36 times his monthly salary. Aside from the withdrawal process, a UAN is also required to convert a PF to cash.
PF withdrawal through UAN can be done online or offline. To apply for PF withdrawal through UAN, the member must activate his or her UAN and login to the portal. Then, the user can complete the necessary KYC documentation and bank account information. After this, the form will be validated and the payment will be credited to the linked bank account. The member can also check the status of his or her withdrawal online by logging into his or her UAN online account.
Track PF claim status
In order to track PF claim status online, you must first log in to your EPF account. To do this, go to the ‘For Employees’ section on the website and click on ‘Member UAN/Online Service (OCS/OTCP)’. Once there, enter your UAN and captcha and click on ‘Track Claim Status’. A new page will appear with your claim status.
Next, go to the EPF claim status page. In the upper right-hand corner, you will see a link. Click on this link and enter your establishment code, which must be seven-digits. Click on the link and you will see a list of regional offices in your state. Click on the one that is relevant to you. Once you click on the link, you will be directed to the appropriate page.
You will see a form that will allow you to track your PF claim. Enter your bank account number, reason for leaving the company, and sign it. This form will take about 20 days. After that, you will receive a new PF account linked to your UAN. You can track PF claim status online if you are moving jobs. You can then transfer your existing EPF balance to the new employer’s PF account.
After you’ve completed the form, you can track your claim’s progress online. You can also cancel it if you discover a mistake after submitting it or if you change your mind. The best way to track PF claim status is to check your account regularly. You can even track the claim’s status online before closing it down. However, you should be sure to follow up with your employer and wait for it to approve.
The last time you checked your PF balance was when you closed your account. You may have deposited it in the wrong account. You can’t withdraw it if you’re changing jobs. Moreover, it’s not advisable to withdraw your PF unless you’re sure that you’ll be working in the new job for a while. If you’re switching jobs, you should transfer your EPF funds to a new employer. The transfer is a better option than cashing out the PF amount.