4 Things to Know Before Transferring EPF Balance

Earlier, employees had to create a new PF account while shifting to a new organization. Now, you can transfer the Employee Provident Fund balance online. Here are four things you should know on how to transfer the EPF balance.

1. Create the UAN number

Generate UAN number for the Employees Provident Fund Organisation portal, which was given to you at the start of your career. You will get an OTP on your registered mobile phone, after which you activate the UAN number.

2. Link Aadhar card

Link your Aadhar card with the UAN number for smooth retrieval of PF balance in the future.

Additional Read: Vital Documents that still Required to Link with Aadhar Card

3. Obtain PF number/ Member ID

Your new organization will generate a new PF number/ member ID after you submit all the details on the EPFO portal such as PAN, and UAN number.

4. Submit form 11 (F-11)

This form has your UAN number and all the details concerning your previous employment. It is beneficial in extracting the balance when you want to shift to a new organization in the future.

Your old Employees Provident Fund will be transferred to the new ID upon your application approval. Avoid redeeming the PF balance prematurely to maximize your profit.
Read More at: https://www.shoppingthoughts.com/know-transferring-employees-provident-fund-balance/

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