Should I continue to use the same PF account or to close it and open new one

POSTED BY Rajendran ON December 29, 2010 9:57 am COMMENTS (4)

Dear All,

  I am moving out of my current job after 6.5 years. My current PF account is in Hyderabad and currently I am in Chennai. My next employer too would be from Chennai.

 Can someone please help me out on what should I do with my current PF account? Should I encash the amount and create new one or should continue with the same one.

If you think second option is best then please guide me on the procuedure to be followed to do it.

I appreciate your time and effort. Thanks.

4 replies on this article “Should I continue to use the same PF account or to close it and open new one”

  1. Rajendran says:

    Thanks all for your help. I have decided to transfer the money from the current PF account to the new employer account. I don’t need any cash rite now and in the foreseeable future.

  2. Amit Kumar Singh says:

    Get a new PF account created with your new employer and transfer your previous company’s PF fund into it. Transfer would be initiated from your new company, so please contact HR of your company. They will assist you on that.

  3. Atul says:

    Hi Rajendran,

    I suggest you to transfer the PF account and treat this as investment.

    Unless you are in need of funds you can with draw.

    Regards

    Atul

  4. Arun says:

    This is what I’ve done, I was in Mumbai and moved to B’lore, with my new employer I opened a new PF account and filled the form 13 (previous company details, account number etc.) and submitted to my current employer for transfer of my funds from my Mumbai PF account.

    My new employer sent the form 13 to my previous employer and they took sometime and I got my balance transfer ed.

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