Navigating Multiple PF Accounts: Can I Transfer Funds to a New Employer?

Hi Experts! I have two PF accounts: one is 2 years old, and another is about 3 months old. I am planning to change my organization now. Can I submit two separate Form 13s in the third organization to transfer the money from these two accounts to the new third account created? I have not yet submitted Form 13 in the second organization due to some unavoidable difficulties. I need your expert advice in this regard.

Best regards,
Narsingh

In that case, please immediately apply for the settlement of your EPF account with Company A and get the money in your hand. Transferring two accounts to a third company will not only be time-consuming but also frustrating. This is practical advice and is not necessarily based on the law.

In addition to the above-mentioned view, I suggest transferring both the EPF/EPS accumulations to the new account. However, please note that you should submit the transfer with a gap of one or two months.

Thanks & Regards,

Sumit Kumar Saxena

Hi Sir, thank you for your valuable suggestion. You mean to say I will first submit Form 13 for transfer from A to C, and after 1-2 months, another Form 13 for transfer from B to C? A, B, C being the first, second, and third companies, respectively? One more thing, is there any danger if I do not apply for transfer? Can't I withdraw from multiple accounts after retirement?

Regards,
Narsingh

As far as danger is concerned, the only danger you will face after retirement is getting your withdrawal claims attested by your previous employer. What will happen at that particular time is unpredictable. It is better to transfer all your accumulations to your current account.

Thanks & Regards,

Sumit Kumar Saxena

Please submit Form 10C and Form 19, duly filled, to claim the EPF and EPS from Company "A" immediately. Please keep a complete track of follow-up and ensure you receive the money promptly.

After receiving both claimed amounts in your account, submit Form 13 to the new company to transfer the accumulations from Company "B" to your new PF Account.

Regards,

You can transfer both your PF account to the third company; there is no harm. Regarding withdrawing multiple PF accounts at the time of retirement, it is not advisable since the PF amount will not accrue any interest after 3 years. It may be termed as a dead account in the future, so why take the chance.