Can I Withdraw My PF and Transfer My Pension to a New Account? Seeking Guidance

Dear HR Professional, I am Anoop Kumar and working with an outsourcing firm (Genius Consultants Ltd.). I want to know if it is possible to withdraw only the PF amount and transfer the Pension amount from the old PF account to the new account.

I have made contributions for 4 months to EPFO from my previous employment (May '15 to August '15). I have now switched jobs, and my new employer (joined at the end of September '15) has its own PF trust. Therefore, I would like to withdraw my PF amount and transfer my pension amount to my new PF account.

Dear Professionals, please let me know if this is possible. Please guide me...

Thank you.

Hi Buddy,

As far as my knowledge goes, you cannot do this (withdrawing PF and transferring your Pension under the employer). The other alternative available for you is either you should withdraw both or transfer both; however, the Pension amount cannot be withdrawn before 6 months of contribution.

With Regards,

Mr. Thumbs Up

Dear Mr. Kumaran,

If I transfer my PF amount (both Pension & PF Contribution), will I be able to receive the pension amount too?

Please let me know.

Regards

Dear,

As per amendments in PF rules from 01st Apr 2015, any employee who has worked less than 6 months of service can withdraw his PF and Pension amounts. Earlier, there was a restriction from the PF department's side that an employee who had worked less than 6 months could not withdraw the pension amount (Form 10C) but could withdraw the PF amount only. There are no restrictions regarding transferring the pension amount since the beginning.

Hope this resolves your query.

Warm Regards