How to transfer EPF fund online? Know here details
Employees of every company with more than 20 employees need to keep a part of their salary in Employees' Provident Fund (EPF) and it is mandatory.
Employees of every company with more than 20 employees need to keep a part of their salary in Employees' Provident Fund (EPF) and it is mandatory. The Employees' Provident Fund Organisation (EPFO) is the custodian of EPF contributions. It invests the money in various instruments to give investors better return. However, when you change a company, you can easily add the account with new company online through EPFO's website, epfindia.gov.in.
How to transfer EPF account from one company to another:
1. The process is very simple. The employee needs to register with the EPFO portal first. All the details are available on the website.
2. The employee may go to the link: http://memberclaims.epfoservices.in.
3. The employees can check eligibility for transfer claim online at www.epfindia.gov.in.
4. If previous and the present companies both are registered with EPFO, the employee can submit his/her claim to either of the employers.
5. The employee will have to submit printout of the form submitted to present employer.
6. All the instructions are given on the online portal. Employees can do it by following the instructions.