The Employees Provident Fund balance can now be transferred by employees after they switch jobs through two options on the EPFO member portal. This makes it easier for employees to consolidate their retirement savings into a single account.
The new facility has been restored after the EPFO made some technology upgrades and consolidated its database. However, the EPFO has said that some claims and service requests may still take longer than usual until the system is fully stable.
To start the transfer, employees can log in with their Universal Account Number. Then go to the “Request for Transfer of Account” option under Online Services. Employees can also use the “Member Service History” section to check their employment records and see if a transfer is already pending. If needed, they can file a Service Transfer Claim through Form 13.
The online process is pretty simple. Employees have to enter details of their employer’s member ID and verify their account information. Then they have to authenticate the request using a one-time password sent to their Aadhaar-linked number. After that, they have to confirm the destination EPF account linked to their employer. Once the request is approved, the Employees Provident Fund balance is moved from the account to the new one.
Transferring the Employees Provident Fund balance is generally better than withdrawing it after changing jobs. This is because it helps preserve service and keeps retirement savings invested. It also avoids tax complications in some cases and allows the money to continue earning interest.
The EPFO says that merging accounts makes it easier to maintain a service record. This can help with retirement benefits and pension calculations later. It may also support eligibility for pension benefits in some cases while keeping employees within the EPF system.
The Employees Provident Fund remains one of the retirement savings schemes for organised sector workers. Both employees and employers contribute to it every month. The accumulated balance earns interest declared by the government.
For the year 2026 the EPF interest rate is 8.25 per cent. This makes it one of the attractive fixed income options, for salaried workers. Since the interest compounds over time consolidating PF accounts into one can improve long term savings.
The EPFO has said that the new transfer options have been enabled after the backend upgrade. However employees may still see delays while the system settles. Employees who apply for a transfer now may need to wait than usual for processing. |
