EPF account: What happens to PF account if you don’t transfer it while switching jobs?

The Employees' Provident Fund, or EPF, is a popular savings system established by the Employee Provident Fund Organisation (EPFO) and overseen by the Government of India.

Employees and employers both contribute 12 per cent of their basic salary and dearness allowance to EPF. The interest earned on the EPF is tax-free and can be withdrawn without penalty. Employees receive a lump-sum payment upon retirement, which includes accrued interest. In order to get this amount after retirement, employees need to make sure that they have got their EPF account transferred on time while switching jobs. 

If they don’t, the old EPF account continues to earn EPF interest rate but due to the non-contribution in the account, the interest earned in the EPF account becomes taxable. It also affects the continuity of the PF contribution which may finally dent the pension benefit of the EPF account holder.

Here is a step-by-step guide on how to transfer your EPF account while switching jobs: 

Employees need to follow the given steps in order to set up a transfer request online:

Step 1: Login to your EPF account using your UAN and password by visiting https://unifiedportal-mem.epfindia.gov.in/memberinterface/

Step 2: Click on the ‘One Member – One EPF Account (Transfer Request)’ option in the ‘Online Services’ section

Step 3: Carefully verify personal information and the present PF account details

Step 4: Click on ‘Get Details’ to view PF account details of the previous employment

Step 5: Choose either your previous employer or present employer for attesting the claim form depending on the availability of an authorised signatory holding DSC. Choose one of the employers and provide your Member ID or UAN in the required fields.

Step 6: Click on the ‘Get OTP’ button to receive the OTP to your registered mobile number. Enter the OTP in the space provided and click on the ‘Submit’ button to authenticate your identity. 

Step 7: Next, an online filled-in PF transfer request form will be generated that needs to be self-attested and submitted in PDF format to your selected employer. The employer will also receive an online notification about the EPF transfer request.

Step 8: The employer then approves the PF transfer request digitally. Once the approval is granted, the PF is transferred to the new account with the current employer. A tracking ID is also generated that can be used to track the application online. 

Note: The employee has to download the Transfer Claim Form (Form 13). In some cases, the employee has to submit this form to the employer to complete the process of EPF transfer.

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