Confused About Transferring Your Pension Fund to a New Employer? Let's Discuss How It Works

Is there a way to transfer the pension fund from a previous employer to the current employer? In all my previous PF transfers, I've received only the PF amount. I am not sure where they keep that pension amount. Any help on the following points will be greatly appreciated:

i) Can we really transfer the pension fund from one account to another?

ii) In case the PF account was settled long back, are we still eligible to withdraw/transfer our pension fund associated with that PF account?

iii) Can somebody please help me with the process of withdrawing/transferring the pension fund (e.g., different forms)?

Thanks in advance!!!

Regards,
Divesh

Once the PF is transferred, the EPS is also automatically transferred.

But the PF passbook doesn't show those EPS numbers. It only shows the PF amount that was transferred. Is there a way to cross-check if it's done or not?

You have not mentioned the period of your service in the organization. If your service was more than 10 years in the organization, the pension fund is retained by the EPFO. In lieu of that retained fund, the EPFO issues a pension certificate to the member, which is submitted when the member is eligible for a pension. If you opted to transfer the EPF from the previous employer to the current employer, the pension fund is also transferred. In some cases, the pension fund is also retained if you are willing to accept Scheme Certificates in lieu of Withdrawal Benefits (S. No. 8, Form 10-C).

You can ask your organization to give you the acknowledgment of the PF form submitted, and accordingly, you can approach the PF authorities for your queries. The various PF forms are available on the EPFO website. All of the above is based on my experience with the PF Office.

Hello seniors and experienced members, please upgrade the issue if I am wrong.

Regards,
The

Thank you, Sir. The duration of service was less than 3 years, so I am not sure if I am really eligible for a Pension certificate. In case someone applies for it, how can I check for Pension funds? Do I need to go to the PF office to know the status?

Regards,
Divesh

Yes, you can approach the PF authorities. First, ask your organization to provide you with the acknowledgment showing that your PF form was submitted to the PF office. If the PF office is in another state, you can send your query through the post; it is better to send it through registered post.

Draft a letter and attach the acknowledgment copy. If you can personally visit the PF office, please go in person. In every PF office, there is a Public Relations Officer (PRO) who handles public grievances and directs them to the right person responsible for your organization's EPF settlements.

Regards,

Eligibility for Pension Under the Employees' Pension Scheme (EPS)

Under the Employees' Pension Scheme (EPS), a member is eligible to receive a pension only when they complete at least 10 years of eligible service (as per Para 12 of EPS). Another condition is that a member can only receive a pension after attaining the age of 58 years.

Therefore, the question arises: what will happen to their contributions to the EPS if they leave a job without completing 10 years (i.e., without contributing to the EPS for at least 10 years)?

Options for Members Not Completing 10 Years of Service

This is answered in Para 14 of EPS: If a member has not completed the eligible service by the date of exit or by attaining 58 years of age, whichever is earlier, they shall be entitled to a withdrawal benefit as specified in Table 'D' or may choose to receive the scheme certificate provided they have not yet reached 58 years of age.

The withdrawal benefit amount mentioned in Table D will not be the actual contribution made by the member to the fund; it will be significantly less. Therefore, it is advisable to opt for the Scheme Certificate. By collecting Scheme Certificates each time a member changes jobs, the certificates will document the pensionable service they have accrued, which can eventually be aggregated to receive a pension.

Pension Fund Management and Account Details

There is no direct transfer of the pension fund/account similar to the Employee Provident Fund (EPF). Instead, you receive a certificate because the fund is managed centrally for better returns.

Furthermore, there is no separate account number for the pension account; the EPF number applies to EPS as well (as per Para 23 of EPS).

This is the rule position. If you have not yet received your scheme certificate, please apply for it through the employer to whom you made contributions to the EPS for the relevant period.

Regards

One need not wait until 58 years of age if their service is less than 10 years. I worked in a reputed company for 9 years and one month. I received the EPS deductions back within 2 months from EPFO after mentioning that I am no longer employed.

Regards,
Pon

EPF & EPS Account Number Consistency

Please note that the account number of a member for EPF & EPS is always the same. If you want to transfer your Pension Fund to a new account, please note that only the pension fund will be transferred; the EPF Fund will also be transferred with it. However, if you wish to withdraw your EPF Fund and transfer the EPS Fund, that is not possible. Once the account is settled, it will be settled completely. Therefore, you can withdraw the EPF Fund and claim the EPS Certificate.

Withdrawal Process for Short Service

Since your service is only for 3 years, you can fill out Form 10C & 19 for the withdrawal. If you prefer to obtain a scheme certificate, you can select the same in Form-10C.

Checking Pension Fund Details

To check the Pension Fund, you can refer to your EPF Member Passbook, which also contains Pension Fund details in the last column.

I hope this information proves helpful to you.

Regards

I've worked in a previous organization for 2 years. The PF amount has been transferred to my current PF account, but the pension is not showing in the member passbook. I want my previous pension fund to be transferred to my current account. Is it possible? What is the process?

I have worked in three companies earlier, and presently, I am at my fourth company. I applied using Form 13 with the last three companies. After some days, all three PF funds were transferred to my current PF account.

Pension Fund Concerns

What about the past three pension funds? Where is the pension contribution now? What should I do next?

Thank you.

I have worked for 23 years at JK Paper Mills. I resigned in 2008 and withdrew my provident fund. I was a member of the pension scheme from 1985 to 2008 in this organization. After resigning, I joined another company, Ivax Paper Chemicals Ltd, in 2008, where my PF is being deducted. I would like to know the process of transferring my pension amount to my current employer.

My pension account number is OR/353/4499 of JK Paper Mills, JKPUR-765017, Rayagada District, Odisha. Please assist me in transferring the pension amount.

Thank you for your help in this matter.

Dear All,

When you transfer your PF, only EPF amount is transferred. But when you withdraw, you will get the full amount of the pension, including the previous employer's pension fund. I faced this problem and got the exact balance of the pension fund. At first, the department credited a lesser amount, which was equal to the pension fund of the previous employer. Then, I filled the pension withdrawal form again. My claim got rejected. I filed a grievance on the EPFO website. After three months of fighting, I got the money back.

Thanks,
Pritam Singh

PF Transfer Procedures and Assistance Needed

I have been working in Goa as a Jr. HR Executive with 1.5 years of experience in the field of HR. I would like to learn about the following procedures:

1) The new PF transfer form (Declaration Form). I would appreciate it if someone could send me the form and provide guidance on what steps to take once it's filled out.

Secondly, my PF account number from my previous establishment has not been transferred to my new establishment. When I check my PF balance, it shows no eligibility or a similar message. I am in need of assistance as I am new to this process. What steps should I take? Is the new PF transfer form applicable in this situation?

Please email me at [Email Removed For Privacy Reasons] for any assistance.

Thank you.

Regards, Sue Allen Lobo

Pension funds can't be transferred, but their service can be transferred. If an employee works for 4 years in one company, then the employee only needs to work for 6 more years in the second company. The employee does not need to start from the first year in the second company.

I also came across a case where the EPS of previous employers was not transferred to the current employer. In the case of EPF withdrawal, only the EPF of the most recent previous employer is being settled, not that of the other previous employers.

EPS funds are only maintained by EPFO until new employers are exempted under this scheme. Please refer to the attached instructions by EPFO. I hope this will clarify any doubts.

Hi all,

I transferred my PF amount to a new account. I have gone through all the previous threads, but my question is, I want to claim the pension amount. I had worked for 2 years, and the date of exit is also mentioned in the same UAN.