Online EPF Transfer and Withdrawal

Online EPF Transfer and Withdrawal facility helps the employees more than the expected. This small initiative can increase the retirement saving considerably. The hassle of EPF transfer forces people to withdraw it or just leave the amount in the account. These inactive accounts don’t earn any interest. Online EPF Transfer and Withdrawal reduces this hassle. Hence now onward you should not delay.

You can start your online transfer of EPF right now.  This will result in greater saving. In Practice majority of the employees don’t transfer the amount after changing the job. According to EPF rules if you are only changing the job you can’t withdraw the amount. But to avoid the hassle employer as well as employees, both gives a false undertaking of unemployment. Hopefully this will end by online EPF transfer and withdrawal.

Must Read7 Ways to Check PF Account Balance

In this article I will tell you-

  1. How Online PF Transfer eases your hassle
  2. How Online PF Transfer Process Works
  3. How You Can Transfer PF Online Yourself
  4. What About Online EPF Withdrawal Process

Online EPF transfer and withdrawal, Provident Fund

Benefits Of Online EPF Transfer And Withdrawal

  •  This service makes transfer and withdrawal of the EPF transparent. The employee can track its application just by one click. They are not required to go from one desk to another.
  •  All the Applications of Online EPF Transfer and Withdrawal will be tracked centrally from the Delhi office. This makes regional PF officials more accountable.
  •  Application processing is faster. Now you can expect your PF transfer in 3 weeks.  Now EPFO Employees are required to data feed the physical application. This saves time.
  • Now it is the responsibility of EPFO to get the response from the employers. Usually after the resignation of the employee, the employer becomes reluctant to do paperwork for him. Now he has to only attest the application form just by one click.
  • Also, because of online application, there would be less error. This also makes application processing faster.

How Online EPF Transfer Works

Employee provident fund organization is the custodian of your Provident Fund. It invests your money in safe option so that you can get assured return after the retirement. But you have not to directly deal with it. Rather your employer deals with it. Your employer do the paper work, authenticate and deduct mandatory contribution from your salary.

Unlike Banks or any financial institution EPFO does not ask for any KYC documents for authentication, rather employer authenticates you.

In case of EPF transfer or withdrawal EPFO acts only after your employer’s authentication. Earlier this was done by physical paper.

You used to give the application form to the employer. Employers used to verify and send to the regional PF office. In the EPF office also files used to move at snail pace.

  • But in the online process you submit your application directly to the EPFO. Since it is in digital form, it is simultaneously sent to the regional PF office, your previous employer and present employer.
  • Now regional PF office tracks application with the employer.
  • Your employer(s) gets the message of application. Now it has to attest it. The Attestation authenticates the identity of the employee.
  • On the other hand employer itself also has to satisfy that the original employee has applied for PF transfer or withdrawal. That is why you have to submit signed hard copy of your application with the employer.
  • After this assurance, employer attest your application with the its digital signature. The employer does this process at the EPFO portal. The employer keeps your hard copy for the record.
  • Now EPFO has to work on the processing of transfer or withdrawal. \
  • If EPF transfer involves two PF offices, the EPF transfer process takes more time.
  • The application is sent from one office to another office. If you check the PF transfer status on this time, the message would be that transfer application is in the transit between in office and out office. This step takes maximum time of EPF transfer becuase some offices are slow in the processing.
  •  Also, your employer can also take several days just to attest the form. Therefore, online EPF transfer also takes 3-4 weeks.

Online EPF Transfer And withdrawal Actual Process

  • Your first step is to check eligibility for online transfer. This facility may not available for some people as few organizations have not given their digital signature yet. Between your past and present employer, one should have given the digital signature.
  • The employee can Fill the application form on the online EPF transfer page of EPFO website.
  • After Submission of application You have to download the printable application form. You have to submit this application form either to your present or past employer. This process is to validate that real employee is trying to transfer the EPF amount.
  • On the other side, copy of the application will directly go to the employer who has the digital signature. Another copy will go to the respective regional PF office.
  • After the verification from the employer(s), EPF will be transferred. EPFO commissioner also said that if required there would be provision of penalty also.

 The employee can also submit a Physical Application in his regional PF office for the transfer or withdrawal of EPF.

Instruction Video of Online EPF Transfer

There is a nice video of online EPF transfer procedure. This video gives live instruction of every step. The video is uploaded of EPFO itself.


What About Online EPF Withdrawal Process

Earlier EPFO announced that it will start the online EPF transfer and withdrawal process simultaneously. But it could not start any service on time. Earlier, whole initiative was stuck on unavailability of digital signatures. Then EPFO was waiting for the universal account number. Now this number has been given to the 4 crore employees.

But, mere UAN could not make online EPF withdrawal process a reality. Indeed, EPFO do not want to take any risk. It is wary of the fraud.

Therefore EPFO wanted to link the KYC of the member with the UAN. In this regard, employers are not cooperating, they are not verifying KYC of its employees.

The Aadhar can be very helpful for online EPF withdrawal. It has the biometric information. But members as well as employers are slow to link their Adhaar number with UAN.

Because of the supreme court’s decision EPFO can’t make Aadhar mandatory. Hence, it can only wait. Also EPFO do not want to introduce the online EPF withdrawal in a hurry.

However, we can hope that online EPF withdrawal would be implemented soon. Lately EPFO has rapidly endorsed the online facilities. Now you can download your PF passbook and check your PF balance online. The EPFO also launched an mobile application. The UAN portal has made the employee’s life very easy.

Recommended Read – It’s Your Money, Here Is The Rule To Withdraw PF Without Employer Signature

Universal Account Number

Finally EPFO has introduced the PF number portability. The Portable number is being called universal account number.  It will make the PF transfer much easier. In this initiative every employee is  allotted a unique number.  This number will work wherever they get employed within the India. So there will not be any need to even transfer the PF from one account to another. You can know the allotment status of your universal account number online. Your employer should tell this number. If the employer don’t tell the UAN number you can know it online as well.

Also Read– How to Check Your PF Balance Status Online

 What Should You Do

If your employer has given digital signature, then you must go through the online pf transfer process. Either offline EPF transfer process is still there.  It is not advisable to withdraw the PF money after changing the job. Retirement saving should be in inaccessible account.

Also ReadGet EPF Money Immediately After Resignation!

Online EPF transfer has made our life easy. Now you must transfer  your PF instead of EPF withdrawal, because PF transfer also saves your tax.

Now I am waiting for the online process of loan from the PF account. Let us see when will EPFO implement it.

What do you think online transfer and withdrawal will change the perception about the EPFO? Will people save more money for the retirement after this facility? How EPFO process made it tough to get or transfer your money. Share it

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I am the person behind this Blog. I started this blog just to share useful information. After getting overwhelming response this pastime became my passion. Job with CNBC Awaaz also helped me to explore the world of Investment, Saving, Insurance, and Tax. Now I am a full-time personal finance blogger.

  • Mahipal Reddy

    Hello Sir,

    I worked for 5 companies, 1st pf to second pf was transferred and then 2nd to 4th company account I transferred the pf, but third company’s pf i did not transfer to 4th. From 4th company I moved to USA and was getting only USA salary but no india salary from 2013 Dec onwards. In July 2014, 4th company was acquired by 5th company, and in the 5th company PF account was created but nothing is deposited as I am still in USA and no indian salary. SO most of my PF amount is with 4th company pf account and about 10000 rupees with third company pf account.

    1st company pf account: transferred

    2nd company pf account: transferred

    3rd company pf account: 10k

    4th company pf account: 1st+2nd+4th is with 4th company pf account

    5th company pf account: zero balance and left the company

    My questions are

    So in my service I was continuously getting the pf from July 2007 Till Dec 2013

    1. Can I withdraw PF from 4th company PF account without paying any tax ?

    2. Or is it mandatory to transfer from 3rd to 4th pf account ?

    3. Or is it required to transfer 3rd and 4th to 5th and then withdraw from 5th ?

    Basically I need a way to get pf without paying tax. Can you please kindly respond ?

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