Online EPF Transfer and Withdrawal from July 1, 2013 – Great News !

Starting July 1, 2013 , EPF account holders will be able to withdraw or transfer their EPF accounts from one employer to another employer online. EPFO has said that they are working on setting up a central clearance house which will be operational from July 1, 2013 . One of the major problems faced by employees is to transfer their EPF accounts from one company to another when they change their jobs or to withdraw their EPF accounts after leaving their job, which takes years and months, without them having any transparency in the system and process. They are frustrated, lost and have no idea where to ask for their EPF status and to whom . Because of this delay, a lot of people just let things go and the matter drags for years and years

epf (employee providend fund) transfer or withdrawal online

You can also Track the Status Online

The best part is that you will be able to track your request online and will be able to see which stage your EPF withdrawal or transfer is ! .

Permanent EPF account number for each person

EPFO has earlier said that they are working on the permanent EPF account number where a employee once allotted a EPF account number will be able to use the same Employee provident fund number when he/she moves to another employer. The new employer will deposit the provident fund money in the same permanent account number. This will solve a lot of issues, but this would be possible only after 1-2 yrs , the first focus is on introducing a online withdrawal or transfer service.

Verification of Details after the request is put ?

Once you apply for withdrawal or transfer, the verification of all the details from employer will be done by EPFO . All you would have to do is just initiate the transfer or withdrawal request online (Its not clear how it will happen or what you need to exactly do). After that EPFO department will take charge and do their part of work by contacting the employer. Here is how the transfer would work

The member makes his transfer application at his new or old office or directly to the EPFO through an online application. The process is then taken over by the EPFO, which gets data verification from both offices and gets the transfer done immediately. Now, EPFO would do the work of getting details from both old and new offices where transfer is involved, says EPFO Commissioner Anil Swarup. – SOURCE

This will help 50 million Employee provident fund account holders , lot of paper work will be saved and surely the harassment will reduce . (Read how you can withdraw/transfer your EPF , if your employer is not supporting or helping you) . at this moment , a lot of withdrawal’s happen because employees know that its more easier and do not want to take chance for future issues due to the complex process. Hence this move will help a lot to EPFO department in retaining employees with their EPF’s .

What should you do right now ?

While the EPFO has said that this will be operational from July 1, 2013 , still there might be delays from their end (you know how deadlines work in real life , remember what happened with DTC (Direct Tax Code) ?) . If you can really afford to wait and want to try out this online system, then wait for 2-3 months and then give this a shot, else follow the usual process at this moment.

Conclusion

While its a welcome move and we should trust the EPFO department, still you know what happened with the EPF Online Passbook system by EPF , which is not up-to the mark and there are tons of issues with it. It might happen that this online EPF transfer and withdrawal system is built , but there can be huge disappointment with the way it would work . We can only wait and watch at this moment.

What do you feel about this move ? A lot of people might have faced bad experience while transferring and withdrawing their EPF accounts and would have wondered why dont EPFO makes every thing online. Now it comes !

125 CommentsAdd Comment

  1. I think its better to transfer the funds through the offline route rather than waiting for the online facility to get started…

    The chances are minimal that it would get operational from 1st July 2013… Moreover, even if it gets operational, there would be many errors in the system initially as a result of which, the processing of your transaction may get even more delayed…

    I’ve experienced the same with the Service Tax Department wherein they werent able to get the systems in place for online filing of Service Tax Returns even after repeated deadlines …

      • Nitin Bourai

        its better to withdraw PF and invest in mutual funds (mid cap), this will definately give more returns as compared to pf ,
        say you are withdrawing 50k
        1 50 k invested for 20 years for a return of 15% in Mid cap mutual fund say HDFC mid cap opportunity fund = 8 Lac +
        2 50 K invested for 20 years in PF at 9% return = less than 3 Lac

        so decide where you want to keep your money a big difference of 5 Lacs

  2. Nagamohan

    In my experience these systems proposed by EPFO won’t work upto the expectations of the subscriber.There are many examples like EPF epassbook, claim status online, epf balance by sms all these initiatives give 2 to 1 year olddata only , that is not the purpose of having a online access .In my opinion the day dream of alloting permanent pf number would be cancelled very shortly just like the cancellation of alloting social security number.RTI applications on EPF transfer gives a little relief for subscribers that too in papers in reality we don’t know when the amount will be reflected in new account.

    I personally feel that , the EPF account can be opened in banks anywhere near to your house just like a PPF account with suitable documents from employer with a passbook and a account number.The employer has to remit the epf dues on the above account , once money credited the bank has to send message just like our ordinary accounts.We can update our passwords yearly so that we have the feeling of what is the total amount accumulated so far.While changing jobs the same number can be indicated to the new employer and continue With the account and create a huge corpus for retirement.In the present system because of the issues peoples with draws their money and missing the chances of power of compounding and huge corpus in the retirement.

  3. Ajit Padgaonkar

    EPF has not yet completed updation of data for two-three years.

    This announcement is impossible to be effective from 1st July, 2013.

    Minister is announcing that employee can view their updated balances any time, this is not yet implemented upto now in respect of many organisations.

  4. Ravi

    Employees’ Provident Fund Organisation may stop financing members’ insurance policies from provident fund following operational problems and corruption charges, sources said on Wednesday.

    The move comes after a large number of cases resurfaced where insurance policies have lapsed due to non-payment of premium.

    EPFO is considering a proposal to scrap a provision (paragraph 62 of the EPF scheme) that allows subscribers to pay insurance premium from the PF balance and an internal discussion has been initiated, official told FE citing an internal circular issued recently.

    Payment of insurance premium was one of the options offered by EPF scheme apart from the facility to withdraw money or take advances for buying a house, prepayment of certain loans, incurring social expenses like marriage and higher education of their children.

    Though the Employees’ Deposit-linked Insurance scheme under EPFO offers insurance up to R1.3 lakh in case of death, it is not enough to cover the future needs of a family. At present, an employee contributes 12% of his basic salary towards EPF and the employer makes a matching contribution with 3.67% going for EPF, 8.33% going for employees pension scheme (EPS) and 0.5% for EDLI

  5. Girish

    Thank you Manish for this information, I hope, this transfer/withdrawl will not suck as that of getting SMS updates or passbooks from EPFO sites.

    I pray, EPFO will behave smart this time. :)

  6. Anoop

    Hi Manish,

    I had changed jobs after working for 7 years with my previous employer and opted to withdraw the money from my PF account, which I got it easily as it was maintained by the trust :)
    However I checked with my employer regarding the pension amount and when would I get it back, but my employer has told that pension amount is maintained by EPFO and they have no control on when the credit of the amount will happen. Can you please let me know how do I go about claiming my pension amount?

    Thanks,

  7. syed ummar

    I also have EPF account and 5years back i left the job and my amount is with EPFO only. at present my employer is closed shops. then how epfo will check with my office? how can i get back my amount.

  8. Vishal

    How can we transfer the money from dormant account? (Accounts with no transactions for more than 3 years)

  9. subhasish Das

    Dear Manish ji

    Day before yesterday you have told me regarding EPF transfer problem – For RTI. Plz tell me how I will do the R.T.I.

  10. hrishig

    Looking at the interest rate offered , I am wondering will it be good if the same money is withdrawn and put in any Debt fund? The idea is not to withdrw this money for long term so if the money is added in debt funds and double indexation is used the resturns should be ideally much higher than PF. ( Best debt returns are around 13- 14% and PF is offering 8.5. So even if someone gets 10 -11 % after double indexation the savings will be huge. What do you think?

  11. Abhishek

    sir,
    from last 2011 feb, i have left my previous organization. Now can it possible to withdraw or transfer my PF in current organization.
    Pl reply.

  12. Lalit

    Hi
    I had applied for closing my nearly 3 year old dormant account but it has been rejected on 25th may 2013 with note saying rejection letter has been dispatched but I have not received any letter.
    Should i wait for the online closure process before trying again?
    How to close this account? I did not receive any reason for rejection. Can I file compliant to get rejection reason?

      • Lalit

        Yes I mean withdrawal. i sent 10c 19 cancelled cheque affidavit for late closure proof of identity pan card copy aadhaar card copy and sent it to my previous employer who verified and forwarded it to epfo chennai. however i received an sms saying that pf withdrawal has been rejected and they have sent rejection letter but i didn’t receive any email nor my previous employer received any communication.
        how can i find out why they rejected the application? its not possible for me to run to chennai from delhi. they never pick up the phone and don’t respond to emails.

        also should i wait till july 1 to refile again online. i don’t know why they rejected.

  13. Pramod

    I have requested PF transfer in Jun 2012 and now it’s 1year about to complete, but till yet I didn’t get amount in my new account.
    online status will says:
    “Your transfer request has been receive and the same is under process”
    above message is repeated 4 times while I inquired my PF transfer status.

    What should I do.. to get my money back..
    Even I am unable to view my new account detail using view balance option on EPF site.
    It’ll show there is no data for this PF account number and for old account It’ll show message that “account is settled”

  14. Neeraj

    Hi,

    Can you please provide info on whether actually Online PF withdrawal process will be started from 1st July or not?

    Regards,
    Neeraj

  15. Gopal

    As expected, the EPF team made just made that announcement and thats it, they vanished.. Just wished they did something about it, or at the very least make an announcement on expected date!

    What more do we expect from Govt. agencies :)?

    Regards,
    Gopal.

  16. Sovan Samanta

    Hi,
    Can you please provide info on whether actually Online PF withdrawal process will be started from 1st July or not?
    Please Sir…

    Regards,
    Sovan

  17. Lalit

    It has been delayed for more than one month. And as per the latest news it seems to be applicable only for online transfers . Online withdrawals are not possible it seems.

    Also it is only if both the companies in question are big companies that have a digital signature.

    • Lalit

      Union Labour & Employment Minister Sis Ram Ola released the revised transfer claim form previously called Form 13. The EPFO would be collecting digital signatures of employers in the next 15 days, a top official said, calling it step two.The third step would be the launch of web based services. The entire process is expected to be completed in a month, he said.

  18. Sharath

    Hi Manish,

    Any update on the implementation of this online process.

    Any inputs would be greatly appreciated as I was hoping to apply for my epf through online process after learning about it on your blog.

    Thanks in advance.

      • jains

        companies on both ends i.e. old employer and new employer need to register with EPFO in some digital manner before online transfer can be accomplished. Basically, EPF transfer process requires approval stamp from your old/current employer, this will need to be provided digitally to accomplish online transfer. Even though EPFO data is digital (that’s how we are able to see balance etc online), transfer process will take a some more time to become a reality

  19. sd

    Dear Friends,

    I left company XYZ in 2010 & joined another company ABC in the same year. But I didn’t consolidate the accounts, i.e. didn’t get my account transferred from XYZ to ABC. Because of that I have to 2 PF accounts, one opened for each company.

    Now I’m abroad working for an MNC (not an Indian company). I want to consolidate all my PF accounts into one, so it’s easier to manage & avail benefits thereof. My question is, since I’m not with ABC (or any company in India) anymore, how can I consolidate PF accounts of both XYZ & ABC (or transfer to ABC), so I have only one account.

    Your help is really appreciated.

    Thanks
    SD

  20. Lalit

    Bhai log kuch nahi hoga.
    Last time i applied for withdrawal it got rejected with made up reason missing document in 30 days
    this time i applied for withdrawal it got rejected with made up reason missing document in 10 days

    once online process starts it will get rejected with missing document or data in 3 days.

  21. Deepak

    I think you should add the word tentatively to our post heading I spent some of my valuable time going through this post and of no use. I am trying to transfer my pf from previous company for 2 long years and they have played every little trick under the sun to frustrate me. Frankly online PF status & greivance management in EPFO site rocks. They gave me the real scenario of why it is getting delayed.

  22. Praven

    Dear Sir,

    Thanks for your usefull information.

    I would like to know the current process of new employee pf & ESI registration process.

    In interview they asked me … From pf how much an employee can draw, if he has less than 10 years exp in pvt ltd company. & more than 10 years exp how much. ?

    What is the process for monthly filing of ESI ?

    Please reply me ASAP sir, i have interview next week.

    Thanks & Regards /-

  23. Praveen Deshmukh

    As I heard if service is continue for 10 years then PF account will be ceased and you will be eligible for pension. My question is if these 10 years are spend in different different organization then also you will be eligible for pensions.
    Like if 3 years service in organization A and 7 years in organization B, after organization A pf transferred from A to B.

  24. surender.m

    HI Manish,
    Two months ago,i filed RTI application to check status of PF tranfer request raised in year 2010 and I also got reply saying that tranfer has been done ,it will credited in 2012-13 statement. But how to get this 2012-13 statment.

  25. Sachin

    Hi Manish,

    I want to withdraw the PF amount for which I filled the form with the previous employer and got it apporved, but I don’t want to withdraw the Pension fund amount, either I can keep it as it is or later on I can get it transffered to my new PF account . Please suggest the best available option. Can this also be done using the online facility.

    Thanks in advance.

  26. Deepika

    i have worked in a company for 5 months and resigned. I applied for PF withdrawl and my application got rejected. But there is no rejection reason available online nor have i received any courier. My PF account is in Gurgaon,Haryana.

    Can you please suggest what i should do now? Shall i reapply for withdrawl or better opt for PF transfer?

  27. sunil dutt

    sir
    thanking you for easy withdrawal pf sir my company is not submit
    my pf withdrawl from at his pf office they taken allredy abov one and half month
    please tel me how i withdrawal my pf i alredy sended my company to my pf from
    befor two mounth
    thanks regards
    sunil dutt

  28. mitul

    Hello Manish,

    I am regular visitor here for better info. you guys are doing great job. best wishes for you.

    I am posting my first query here, I have initiated Transfer of PF from Bandra RO to Bangalore RO. its been 2 years & 4-5 grievances, still there is no solution.

    This is what i have got :

    This is with reference to your Grievance registered vide Registration Number ROBND/E/2013/12074.
    It is informed that after processing your grievance,the following action(s) has been taken:
    F/13 (Transfer claim) settled. & P.F. A/C Transfer from MH/BAN/ XXX to BG/BNG/XXX of Rs.X vide cheque no. 039919 credited date 25/02/2013 You are requested to approach your respective EPF Office. /Trust

    Then

    From grievance from Bangalore RO

    The said transfer will be added to your present account on receipt of softcopy of anneuxre K from Regional Office, Bandra

    Now i fill chocked. what to do ? What abt interest on that money ? when it will be transferred ? Any legal action/Consumer Forum i can seek ? Can you guide ?

    Regards,
    Mitul

    • I think the best solution for you is to file a RTI application seeking details. First you should file a RTI to Bandra office and ask if the amount has been transferred to Target office, If the answer comes NO , then you need to ask them again When it will be done . and if answer is YES, then file another RTI to Target office asking WHEN will you get it, I think this will take another 2 months, but this is the final solution for you !

  29. Kshitij_Peter

    Hi,
    I have filed online applications (for 2 of my previous accounts) and sent the signed copies to my ex-employers. For one of them it shows as Approved and second it shows pending.

    What are the steps/process after the ex-employer approves the transfer?

  30. Durgesh

    Hi,

    I applied for online pf transfer claim and it has already approved by my previous employer.
    it is currently in following status.
    “Current Status :Your request is In Transit between EPFO Out and In Office”.

    It is in this state for a very long time(2 month).

    Please advice.

  31. ramya

    i arready transfer my pf amount throw online to new job from my old job so how many day it will take time to transfer n how i will know my balance amount please kindly let me know the details

  32. sunny

    Hi,
    I worked for 9 mnths in ABC company changed my job and worked for 1 year for company then again shifted to third company.In each company i created a new pf account instead of transfer so currently i have 3 pf accounts.Is it possible to transfer only the money and not account to my latest pf account.If i withdraw my previous 2 pf account will it be tax free as my tax slab was under 2 lac in those companies.

      • mono

        when trying to transfer epf….after filling the form
        when pressing the preview button.
        a pop up is coming (..b;lah blah conduit.com..) and next page is not coming where the filled up form is shown..
        found the answer..
        issue with advertisement in browser from conduit.com..
        try using a different browser or a different computer.or reinstall firefox

  33. monomono

    clciking the preview button
    it shows
    success:in a pop up with an ok button ..
    clicked th eok button ..but the next page is not coming

  34. Aaisha

    I quit working with an entity of a company and was supposed to withdraw my PF as I had completed 7 years in the orgn however after 5 months of working in a different company , I rejoined a different entity of the same company where i completed 7 years. When i was filling my forms the HR confirmed that I should be able to withdraw my PF and so i applied for a new account however now I am told that I have to transfer my PF to new account of the current company. How should I proceed as I had completed 7 years in the 1st company will my no. of years start from 1st year in the new company (different entity of the same co.)? Am I at loss here?

  35. mono

    A NEW INFORMATION IF ITS GOOD FOR ANYONE…
    I APPLIED FOR ONLINE TRANSFER IN SEP AND SUBMITTED HARD COPIES
    TO MY PREVIOUS EMPLOYER..
    BUT IT WAS SHOWING waiting to get approved from previous employer..
    checked with previous employer…he said that he cant see anyone like me in his approval of epf page….just some days back..i registered for UAN…and then after couple of days the appove from previous employee is showing..
    earlier i saw the status..of epf transfer ..its was showing rejected.( no record exists in database..blah blah )….I think registering with UAN…solves this problem of epf transfer..

  36. Mahadevan

    Dear Manish,

    My employer made it clear that PF transfer can only be done online. Tried this but got the following message. Any suggestion on how to crack this??

    “Since membership details in respect of member ID TNMASxxxxxxx000yyyyyyy is not available on the portal, you cannot submit the transfer claim online. It is advised to submit physical claim thorough previous or present employer”

    Thanks in advance.

  37. Kirti

    Hi,

    I left the first job and join second. I had not applied for PF transfer. I work in second for 2 months and then join 3rd job. I had withdrawn the PF for 2nd job as it is for 2 months only. Now is it possible to transfer PF balance from my 1st employer to PF account with 3rd employer.

  38. Rakesh

    Hi,
    In my UAN my father name is showing incorrect. Is it this will be a problem during the time of PF withdrawal?

    After how many months I should apply for PF withdrawal after quitting the from the company? And approximately after how many months it will be credited to my bank account.

    Please also suggest me the best and fastest way to apply for PF withdrawal

    Regards,
    Rakesh

  39. Somesh

    Hi Manish,

    Great articale as always…..
    May be I have missed but just want to know is there any article on jagoinvestor on the whole online process of PF transfer and withdrawl(dont think u would have missed that:-)) after the process is online. This article is general and was published before the online process into play.
    May be a exact process infor and links might help people in a more staraigh way(As I have to google a lot for this…rest things i find easily on jagoinvestor).

    Thanks
    Somesh

  40. Rakesh

    Hi Manish,
    Can you reply to my query sent on December 5, 2014 at 9:32 pm
    My question was “In my UAN my father name is showing incorrect. Is it this will be a problem during the time of PF withdrawal?”

      • guest

        If a person’s investments already meet the 80C limit, is there any benefit in increasing PF contribution beyond the compulsory 12% of basic salary? I understand that interest from EPF is tax exempt and is a safe investment, but is there any other way by which it reduces tax to be paid? In the blog post ratrace2freedom dot blogspot dot in, specifically in an article titled voluntary-provident-fund-vpf, it is mentioned that since VPF goes from pre-tax income, it offers 50% higher return than same amount invested in PPF. I do not understand how that was calculated.

  41. guest

    I am still not clear as to how the author of that article arrived at 50% higher savings, but what you have stated does make sense – saving early helps avoid need to plan for investing towards end of financial year!

  42. Surendra

    Hello manish,
    I worked with a Company A for 2 years till April 2014. From April 2014 to September 2014 I workrd with Company B. Presently, I am working with another company. I raised request to withdraw the PF amount of Company B and got the same. The problem is with the PF amount of Company A. When I left Company A, I raised a request to transfer the amount to Company B’s PF account but till now its not been transferred. Now I am confused whether the amount will be transferred somewhere in the coming months or not (as I have already withdrew all the money in it) or should I cancelled the request and raised a new request to transfer the same to my present company’s PF account?
    Please help.

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