24 November 2022
Transfer PF From Trust to Epfo Online How Many Employees are Required for PF Registration?
The introduction of an online process by the EPFO portal has reduced the hassles of the manual transfer of pf from trust to EPFO. The online transfer is possible only through a unified common interface portal. In 1952, the Government of India introduced a saving scheme for the social security and welfare of the workers in organized and unorganized. It was called Employees’ Provident Funds (EPF). It is a savings scheme under the Employees’ Provident Funds and Miscellaneous Provisions Act. The Scheme comes under the Employees’ Provident Fund Organisation (EPFO). All organizations with more than 20 workers come under EPF coverage. An employee should contribute a fixed percentage of the amount from the salary towards the Provident Fund Registration. The employer should also pay an equal amount toward the contribution.
While many organizations are liable for contributions, some organizations exempted from contributing to EPF funds have to manage their private PF trust.
Employees’ Provident Fund Organization comes under The Ministry of Labour. The EPFO authorizes PF Trust to maintain the provident funds of the employees. Remit the contributions of the members to EPFO. Trust has to submit annual accounts, and settle the PF amount in situations like death, retirement, resignation, etc. EPFO maintains PF accounts on receipt of information and remittances from employers.
In the past manual pf transfer was done offline. It was not difficult but time-consuming as several physical documents needed verification by the employer and EPFO officials. You need to fill Form 13 and submit it to HR of the old employer with all relevant documents.
A set of two letters will be issued by the old employer, one for the new employer and another to EPFO enclosing a cheque that mentions your amount of pf.
Next, you log into the EPFO portal with your UAN and password for filing PF transfer requests on behalf of your old employer. PF trust maintains the funds on its own it is a time taking task as it is not connected fully with EPFO.
Employees’ Provident Fund Organization has made the transfer of pf online. It has the facility to transfer pf from trust to EPFO and from EPFO to trust. It saves the employees from the difficulty of submitting physical documents for verification by the employer. They are digitally uploaded online to save a lot of time.
An individual can easily transfer pf funds irrespective of where the account is held. The latest provision and guidelines are made for transfers from pf trust to EPFO online. The online transfer is possible only if done through a Unified common interface portal. An employee should be registered under EPFO and should possess Universal Account Number (UAN). In the absence of UAN PF transfer cannot be made.
Every time a person changes company or organization the allotment of EPF member ID is different. UAN or Universal Account Number link all PF account IDs that belong to one individual.
Using the UAN, an individual can the following benefits Personally can update the UAN Employees can update the provident fund passbook with transfer details. Stay updated by receiving SMS on monthly details of credits in the account. Automatically transferring the account on change of employer Easily link the old member IDs with the new ones. Employees should be ready with the below requisites before applying for transfer pf from trust to EPFO.
UAN should be active on the EPF portal The registered mobile given for activation of UAN should be active. You will be receiving OTP for transferring PF funds online. Link your aadhar to your registered mobile number. Link the bank account to UAN. The same has to be verified by the employer. Link Aadhaar with UAN. Make sure your KYC is verified and approved by UAN Ensure old and new employers have registered their authorized digital signatures in the portal. Make sure Old and new PF numbers are saved in EPFO. The date of Joining and date of leaving should tally with that of the employer while filling transfer form online. One member ID will be accepted for one transfer request by EPFO. Download the transfer claim form (Form 13). Submit Form 13 to the employer to complete the process of EPF transfer. Use Vakilsearch’s PF interest calculator to find out how much money will be in your EPF account when you retire.
Employees need to follow the given steps to set up a transfer request online: First, you need to log into your member sewa portal – https://unifiedportal-mem.epfindia.gov.in/ with UAN and password. Go to the online services section and click the one member and one EPF account options. Go through the personal details check all information carefully and present PF account details also. Go to Get details to view Pf account details of earlier employment. Select any one employer (present or previous) for attesting the transfer form after checking the availability of an authorized signatory holding a Digital signature certificate online. Enter your Member ID or UAN in the required fields. Make sure you enter the relevant employer Member ID only. A mismatch will lead to rejection. When completed click on GET OTP, and you will receive a one-time password in your registered mobile number. Submit the OTP to authenticate your identifications. A filled PF transfer request form will be available for download. The employee should Self-attest the form and submit it to the previous employer for approval in PDF format. An online notification will be sent to the employer informing the EPF transfer request.
The employer should approve the PF transfer request digitally. The new account with the current employer will receive the PF transfer upon approval of the previous employer.
A reference ID will be generated to track the transfer application online.
To make the online process easy and fast, keep the below documents handy to cross-check the entries in the database.
Revised Form 13. Valid Identity Proof (PAN, Aadhar, or Driving License). UAN. Current employer’s details. Establishment Number. Account Number. Bank account details of the salary account. Old and current PF account details.