Employees Provident Fund (EPF) Scheme was presented through the Employees’ Provident Funds and Miscellaneous Provisions Act which was passed in the year 1952. The plan means to develop a retirement corpus for salaried employees working in the private area. Under the EPF Scheme, employees and managers contribute 12% of the essential month-to-month compensation (counting Dearness Allowance) towards the EPF Account. This EPF Account then, at that point procures ensured revenue at a rate determined by the Government and makes a corpus for the representative’s retirement. The EPF plot runs till the worker accomplishes 55 years old and can be profited after retirement past this age. Form 13 is the application structure that is required when you need to move your EPF account starting with one boss then onto the next.
Transfer of EPF Account
The EPF record can be moved to start with one manager then onto the next. At the point when you become an EPF part, you are designated a Universal Account Number (UAN) which is a novel part distinguishing proof number through which your EPF Account can be recognized. Each representative has one EPF Account and one UAN number distinguishing that record. At the point when you change occupations, you can just exchange your EPF Account from your current boss to the new business. Along these lines, if there should arise an occurrence of occupation change, another EPF Account isn’t opened; the former one is just moved.
EPF Form 13
EPF structure 13 is a PF move structure that is accessible with the EPF and can be benefited on the web or disconnected. You simply need to top off the PF move Form 13 and submit it to move the EPF Account. The interaction is straightforward and simple.
Details in EPF Form 13
You can find the PF transfer form online using the link: https://benefits.vmware.com/wp-content/uploads/2019/05/ India-PF-Transfer-Offline-Form-13.pdf
On the other hand, EPF Form 13 is additionally accessible with your manager and you can benefit from the structure of the actual business. The structure contains various fields which you and your new boss should fill and submit. These subtleties incorporate the accompanying –
Details which you should provide
- Your name (as contained in the EPF data set)
- Your father’s name. In case you are a hitched lady, you ought to give your significant other’s name
- Name and address of the past business
- EPF Account number with the past business
- Details of who keeps up with the EPF Account in the past foundation. It tends to be a provincial PF official or a PF trust. The name of the pertinent element ought to be referenced
- The FPF Account number with the past business in case you were apportioned one
- Date of leaving the work of the past business
- Date of joining the work of the new business
- The date on which the structure is being filled and submitted
- A signature or had hand thumb effect of the EPF Account holder
Details to be provided by the new employer
- Name and address of the foundation
- The EPF Code and the record number designated to the new worker
- FPF Account number designated to the new worker, if a different number is given
- Details of the EPF Account of the new worker. In case it is an un-absolved foundation, the location of the local or sub-provincial office ought to be referenced. Assuming, nonetheless, the foundation is an excluded foundation, the name of the absolved PF trust or the name of the private PF not covered under the Act ought to be referenced
- Address of the local or sub-local office ought to be referenced where the different FPF Account number apportioned to the representative (if any)is kept
- Details of the payee
- The date at which the structure is being filled and submitted
- Signature of the approved authority of the new business with the organization seal
The EPF office would likewise top off the measure of EPF balance which is being moved to start with one business then onto the next.
When the subtleties in the PF move structure are filled, the structure ought to be submitted and the EPF equilibrium would be effectively moved to start with one boss then onto the next.
Process of Transferring EPF online
The EPFO has improved on the most common way of moving your EPF balance. You can, presently, move your current EPF account balance online through the part entry of EPF. The method involved with moving your EPF balance online is as per the following –
- Visit https://unifiedportal-mem.epfindia.gov.in/memberinterface/ and sign in to your EPF account. To sign in, you would need to give your UAN number and your secret word
- After signing into your record, pick the tab ‘Online Services’ and afterward click on ‘One part – One EPF Account (Transfer Request)’
- A new page would open which would show the current EPF account subtleties, the name of the current boss, and the accessible EPF balance
- Check the current subtleties and afterward select the EPF account which you might want to move
- The PF move structure 13 ought to be confirmed either by the new business or the past manager before you can submit it. Pick the business through which you might want Form 13 to be verified and afterward enter in your UAN number or your part ID
- Click on ‘get OTP’ and an OTP would be shipped off your enlisted portable number. Enter the OTP to confirm your subtleties and submit it
- Fill up EPF Form 13 on the web and afterward download it in a PDF design. Print the structure for accommodation
- Ask your manager to endorse your EPF move demand carefully. The business can do as such by getting to the business’ interface on the EPF brought together entry
- Once the exchange demand has been endorsed by the past business, you can present the printed Form 13 with the new or past boss (as you have chosen for confirmation). This accommodation ought to be done within 10 days of raising an online EPF demand
However the EPF Account balance is accessible for a complete withdrawal in case you are jobless for a ceaseless time of 60 days, you should remain put resources into the plan. EPF is an EEE plot that gives you tax cuts on speculations, returns acquired, and furthermore on recovery. Thus, continue to amass funds in this record through customary commitments. Move your record to another business when you change occupations and you can keep putting resources into the EPF plot till you resign.
You should also read this: Employees Provident Fund Organization (EPFO)