PF Transfer Across Multiple Companies
I would like to know about PF if an employee left one company and joined another company, then joined one more company. In total, he has changed 3 companies in three years. Lastly, he wants to transfer his PF amount from all his previous companies (all three companies) to his present company. Is it possible or not?
Thank you.
Regards
From India, Pune
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2I would like to know about PF if an employee left one company and joined another company, then joined one more company. In total, he has changed 3 companies in three years. Lastly, he wants to transfer his PF amount from all his previous companies (all three companies) to his present company. Is it possible or not?
Thank you.
Regards
From India, Pune
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If he was a PF member in all companies, then everywhere he will have to submit Form 13, providing references to the other companies. It is certainly difficult, but only after the entire procedure is followed in the accounts of the final/existing company can he find his cumulative balance of deductions.
Regards,
Ramakant
From India, Pune
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Regards,
Ramakant
From India, Pune
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Please ensure that Form 13 is submitted to transfer the first company accumulation to the second and the second company accumulation to the third Company Account. I have had a very bad experience in transferring the PF accumulations from one establishment to another; the PF office does not seem to be very concerned about the transfer cases.
In my opinion, it would be advisable for him to withdraw at least the PF from the first company and transfer the PF from the second to the third.
Regards,
Vijay
From India, Pune
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In my opinion, it would be advisable for him to withdraw at least the PF from the first company and transfer the PF from the second to the third.
Regards,
Vijay
From India, Pune
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The problem arises only if the locations are different. However, since every transaction is online, he can submit Form 13 for all to you and get it centralized. Mention in detail to your RPFC, along with an application from him, why he failed to submit Form 13 in previous establishments. However, there is a solution. Don't worry, just help him.
Warm Regards,
Andrew Rao
From India, Mumbai
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Warm Regards,
Andrew Rao
From India, Mumbai
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Challenges in Transferring Provident Fund Across Multiple Establishments
Though Form 13 is sufficient to transfer from one establishment to another, transferring from many establishments is a tedious and time-consuming exercise. Even though the Provident Fund (PF) is a welfare scheme, you will encounter numerous hurdles. I suggest either drawing from it for your benefit or putting it in a Fixed Deposit (FD).
Keep in mind that substantial amounts are accumulated in the Employees' Provident Fund Organisation (EPFO). This is evidence in itself that dealing with the EPFO is not as simple as portrayed on the web.
From India, Nellore
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Though Form 13 is sufficient to transfer from one establishment to another, transferring from many establishments is a tedious and time-consuming exercise. Even though the Provident Fund (PF) is a welfare scheme, you will encounter numerous hurdles. I suggest either drawing from it for your benefit or putting it in a Fixed Deposit (FD).
Keep in mind that substantial amounts are accumulated in the Employees' Provident Fund Organisation (EPFO). This is evidence in itself that dealing with the EPFO is not as simple as portrayed on the web.
From India, Nellore
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Form - 13 ( PF Transfer ) 14may09.doc
03 PF Online Transfer Merge (Form 13).pdf