When you are changing your job you will generally face lot of difficulties with regard to the PF Funds. You have to face lot of problems while transferring your old PF account to new one. However, this new method will help you to transfer your old PF account to new one very easily.
To transfer money from PF, firstly the account holder has to activate UAN (Universal Account Number). The bank account number, Aadhaar number and other details of the account holder should be correct. KYC is required for the account holder to withdraw money from PF.
Here is the process of transferring money
First of all, you have to log in to the EPF account with the help of UAN number and password. After this, you will have to go to online services from the tab given above on the page. Then you will have to click on the One Member-One PF account transfer request in the drop down.
After this, you enter your UAN number and feed your old PF ID. After this you will get your account details. Here, you have to choose your old or new company to validate the transfer. Select your old account and then generate OTP.
After inserting the OTP, your company will get the request for online money transfer process. This work will be completed in three days.
After this, the company will first transfer the money and then the field officer of EPFO will verify it. After the official verification, your money will be transferred.
You can check your status on the track claim status to see if the acapy transfer request is completed or not, for offline transfer you have to fill Form 13 and give it to your old or new company.
You can withdraw money:
- If you are unemployed for two months, you can withdraw the entire money from your EPF account.
- 75 percent of the money can be withdrawn after one month of leaving the job.
- If you have not been working for ten years, then you can withdraw the entire money of your pension.
- PF full money can be withdrawn normally only after attaining the age of 58 years.