Grateful PF Consultant in Ahmedabad
Top ESIC PF Consultant in Ahmedabad by Connect 2 Payroll Services Companies in India and USA. If a person changes jobs, is it possible for them to transfer their PF account?
Absolutely, you are able to move your Provident Fund account when you change jobs. However, there is a lengthy procedure that must be followed. This is the online and offline process flow.
➔ Offline methodology
Each worker who makes an EPF contribution has a distinct UAN. Your new employer must receive the Universal Account Number (UAN) from you.
Employers associate your new PF account with your UAN number. The request for a PF transfer may need to be approved by your former employer.
The EPFO moves the PF balance from the previous PF account to the new one after approval is complete.
The transferred cash is added to the new PF account, and employees continue to make PF contributions through their new employer.
➔ Online method
Through the EPFO web portal, employees can start the process of transferring their PF balance to their current employer's PF account. The term "online PF transfer claim" refers to this online transfer.
Fill out FORM 13, which is an application form for transferring the PF accumulation, if you want to transfer your PF online.
After the transfer request has begun in the online process, prior employers confirm and approve PF transfer requests.
The EPFO moves the funds from the old to the new PF account upon confirmation and consent from the former employer.
After two or three weeks, the employee can make another EPF investment.
Top ESIC PF Consultant in Ahmedabad by Connect 2 Payroll Services Companies in India and USA. EPF handles the interest rate whether it is done online or offline. The interest rate doesn't change during the course of the transaction.
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