Navigating PF: How Do I Find My Account Number and Decide Between Withdrawal or Transfer?

Dear Sir/Madam,

I am working with a bank and am about to join a new organization. I want to know my PF account number and the amount credited to this account. Should I transfer my PF to the new organization or should I withdraw it? Please guide me on the following:

1) How to get my PF account number
2) What is the employee care phone number
3) Which option should I select:
A) PF withdrawal
B) PF transfer

Thank you.

Hi dear,

Here are your answers:

1) PF account number is generally mentioned in the Salary slip. If it is not visible, you can get it from your employer only, either from the HR dept or Account Dept.

2) Employee care phone number? I didn't get your question. There is a PRO in every PF office. You can get in touch with them for PF-related queries.

3) It would be better if you withdraw your PF amount after 60 days of DOL. For that, you have to fill up form no. 10C & 19.

4) Already answered in (3). Fill up the forms and the same to be given to your previous employer. If there is a particular person or consultant for PF work, if not, then you can send the same directly to the PF office by filling up the above-mentioned forms, which could be downloaded from the website www.epfindia.com.

5) For PF transfer, you have to fill up form No. 13. Hope some of your queries are solved. Our friends will give some more inputs.

Regards, Chaitali.

Hi,

You can get your PF number from the accounts department or Administration department. Regarding the amount credited, you need to ask the Accounts department itself. You can either withdraw or transfer your PF amount to the current company you are joining. If you are withdrawing the amount, it takes about 4 to 5 months to be credited to your account. The PF Office staff doesn't respond to queries over the phone. It is better if you can go in person and clarify the same.

Regards,
Dilnaz

Hi,

You can get your PF number either from the HR department or some organizations put PF number on the salary slips as well, so check your salary slip. Once you get your PF number, you can inquire about the same at the PF office at the enquiry counter. Depending on your financial need, you can withdraw or transfer the PF amount.

It's better if you withdraw the PF amount, in my opinion; others may have a different view! Basically, to get an idea about the money deposited, you can check how much the total amount for "x" number of years has been deducted and multiply it by 2; this will give you an approximate figure without the interest rate added to it.

Regards,
Sashmita

Dear Sashmita,

Please clarify the point of getting an approximate idea of how much amount is accumulated in the PF. Can you describe/clarify the formulae?

Thank you,
Shilpa

Dear Sir/Madam,

I am working with a bank and am about to join a new organization. I want to know my PF account number and the amount credited to this account.

Should I transfer my PF to the new organization or should I withdraw it?

Please guide me on:

1) How to get my PF account number

2) What is the employee care phone number

3) What option should I select:

A) PF withdrawal

B) PF transfer

1. PF number is generally mentioned in the salary slip. If not, then get in touch with your HR team.

2. The Employee Care Phone Number is most likely the helpline, similar to those we have in telecom, etc.

3. Let me explain the pros and cons of both options:

A) PF Withdrawal:

- You can get your cash quickly.
- You can apply for withdrawal only after 60 days from your Date of Leaving.
- It is not permitted as long as you are working in India, but people usually withdraw by stating unemployment for the last 60 days (you sign a declaration in the form), which I personally feel is unethical but possible.
- The money is transferred to your account within 30 days, contrary to a friend's experience of 5-6 months.
- You may not receive the entire 12% contributed by the employer if you have not been contributing for 5 years, resulting in potential loss of some money.

B) PF Transfer:

- It is ethically and legally correct.
- For example, if you started working in 2005 and withdrew your PF accumulation in 2007, but in 2011, you need capital investment without changing jobs, you may face challenges in getting an advance against your PF due to insufficient contribution years.
- Consider not withdrawing if you do not urgently need the money to secure your future. Saving for the future is wise, with the added benefit of good interest returns.

I hope this information is helpful. For further clarifications, please email me at harshlalitbhardwaj@gmail.com.

Regards,

Harsh

Dear Shilpa,

Your contribution is 12% of Basic salary, which is towards PF. Employer's contribution of 12% is divided as 3.67% towards PF and 8.33% towards the Pension Fund. So when you want to find out the approximate amount in the PF account, it would be 15.67% of the basic salary per year plus interest as applicable, resulting in PF accumulation for that year. Additionally, 8.33% of the basic salary equals the amount in the pension fund.

Hope this clarifies your query.

Best Regards,
Harsh

Dear Harsh,

Please clarify this point: "You might not get the entire 12% contributed by the employer if you had not been contributing towards the account for 5 years. You might lose out on some money."

Please clarify this point.

Thank you,
Shilpa

Dear Shilpa,

Regarding PF withdrawal, when withdrawing the PF amount, if the service in the organization is less than 6 months, then the employee can receive the share of 12% of the employee and 3.67% of the employer share, i.e., 12+3.67=15.67%. The balance of 8.33% will not be paid by the PF organization.

Regards,

M Srinivas
9908641146

Hi,

I want to say that a former employee cannot withdraw the PF money until the annual return is filed by the previous employer. The PF department will verify the account number provided by you with the account number mentioned in the return.

Thanks & Regards,
Amit Gaur 😢

Hi dear,

All our fellow HR persons have provided you with wonderful information regarding the PF. Here, I would like to let you know what documents you must submit when claiming for PF amount. The documents required are:

1. 2 passport size color photographs
2. 2 Revenue stamps
3. Identity proof (PAN Card, Passport, Voter ID Card, Driving License)
4. Cancelled cheque
5. 3 months bank statements
6. Offer letter copy
7. Cancelled cheque

I hope this information is useful to you.