The Employees ‘Provident Fund Organization (EPFO), a government-administered social security organization, has made it possible to withdraw / transfer the Employees’ Provident Fund (EPF) online through their website. In India, all regulated workers are required to contribute 12 percent of their base salary (and love allowance, if applicable) to the fund each month. The employee’s and employer’s contributions and the interest on them remain stored in an employee’s EPF account and can be withdrawn under certain conditions.
The fund provides savings, retirement and insurance benefits to employees in India. An employee can withdraw the full amount from their EPF account at the time of retirement or remains unemployed for more than two months. EPFO has made arrangements for partial withdrawal in some cases, e.g. B. for medical illnesses, marriage, misfortune and house renovation.
How to transfer money from EPF online
Step 1: Visit the ‘Unified Member Portal’ and log in with the UAN (Universal Account Number) and password
Step 2: Go to “Online Services” and click on “A Member – An EPF Account (Transfer Request)”.
Step 3: Review “Personal Information” and “PF Account” for current employment
Step 4: Click on “Get Details”. The PF account details of the previous employment are displayed
Step 5: Select either previous or current employer to confirm the form
Step 6: Click “Get OTP” to receive OTP on the UAN registered cell phone number. Enter OTP and click Submit.
After submitting OTP, you may be asked to submit scanned documents of the purpose for which you filled out the application form. By accessing the employer interface of the uniform portal, the employer approves EPF transfer requests digitally through access. It can take 15 to 20 days for funds to arrive in the bank account linked to your EPF account.
EPFO shared this information in a tweet on its official Twitter account. EPFO manages the employee benefit and pension funds for financial security after retirement.
Keywords: EPFO, EPF, Employees’ Provident Fund, EPF Transfer, EPF Account
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