If you have worked in more than one company and you have PF account then you should transfer all your account money in one account at the right time.
PF account is a good way of saving for the employed people. A part is also deducted as PF from the salary of private employees, which is deposited in the PF account. But, private employees often keep changing their jobs, so they need to pay special attention to the PF account. Actually, many times the PF holders do not pay attention to the PF account when they do not need it and sometimes they need money then they find it difficult.
In such a situation, if you have worked in more than one company and you have a PF account, then you should complete some mandatory processes in time. By doing this, you do not face difficulties in times of need and you can easily withdraw money from your PF account. Know what those people who have changed jobs more than once, what should they do?
What should be done?
When you work in different places, then in one UAN also your multiple accounts are generated, which are according to each company. If this is the case with you too, then it is necessary to transfer the old account to the new account now. Only when you withdraw money by doing this, you are able to withdraw money from all accounts at once. You can see this information in your account on the official website of EPFO, how many accounts you have, which need to be merged.
How to merge accounts?
To transfer the money of all the accounts in one account, first you have to update the exit date in all the accounts, so that the EPFO gets to know that you have left the job. You go to the Manage option in the EPFO website and go to the option of Mark Exit and mention the date of exit in all the companies except the current company.
After this, by going to the Online Services option in the home page, click on One Member- One EPF Account (Transfer Request). After clicking on this link you will see your details. After this there will be step wise process, which you will see. In this, you will be asked for approval from the present or previous employer and according to you, choose from whom you want to get approved.
In this, you fill your details and after that you will get the information and money will be easily transferred through OTP.
Have to confirm?
Also, you will have to get it confirmed from the old company or the new company. In such a situation, you should try to stick to your present employer so that you can easily talk to the present company. Because money will be transferred to the account only after the approval of the company.
How much time will it take?
It will take you from 7 to 30 days. In this, first the present company will approve it and then the PF account will process it further. After this you may take 7 days to 30 days.
