Top First Qualified PF Consultant in Ahmedabad

Accurate PF Consultant in Ahmedabad

How Can the Old Company Transfer PF?

Best ESI PF Consultant in Ahmedabad by Connect 2 Payroll Outsourcing in India, USA, and Global? A portion of an employee's pay is set aside for the provident fund under the EPF plan. Unlike employers, who are only allowed to contribute a maximum of 12% of an employee's basic income towards EPF, employees are able to contribute a minimum of 12% of their basic salary or even more to the PF fund.

When an employee retires, this PF amount plus interest lets them earn a lump sum payout. PF Transfer is a simple and easy method when you use a Universal Account Number (UAN). Employees may now easily transfer their Employee Provident Fund (EPF) from their prior job to a new employer thanks to provisions implemented by the EPFO.

In the online PF transfer, an employee can choose to have the claim verified by their old company or by their present employer. Following the employee's online submission of the PF transfer form, the employer will use the portal to check, authorize, and submit the request. The Best ESI PF Consultant in Ahmedabad by Connect 2 Payroll Outsourcing in India, USA, and Global?

Why would you transfer PF?

When changing jobs, an employee might transfer their PF account to their new employer rather than closing it with their old one. The Government of India supports the Provident Fund (PF) which is considered a secure long-term investment option for workers.

Therefore, it is advised to make an EPF transfer rather than withdrawing if an employee is currently employed and would like to continue working by changing jobs, since the PF amount continues to be perfect retirement savings. Grievance Management System is an online service that allows you to file grievances.

Documents needed to electronically file an EPF transfer

When submitting an online EPF transfer, an employee should have the following information or documentation on hand:

Updated Form 13: Verifiable Identity Document (Driving License, PAN, or Aadhar)

Current and historical PF account information

It should be possible to reach the registered mobile number on the EPFO website.

A UAN that is active on the UAN portal

an e-KYC that the employer has authorized

Details of the current employer

PF Account Number / Establishment Number

Information about the salary account's bank account

For an employee to submit a claim online using the EPFO site, they must fulfill the aforementioned conditions. If not, an employee can get the necessary KYC and other information by visiting the site.