Dear Sir, An employee has been working in the same organization as an operator for 3 years. He has been promoted to the staff category effective from 01.08.2007. The PF authorized person has allocated another PF account number. The employee has requested us to transfer the PF accumulations from the first account to the current PF account. Is it possible? Please provide us with suggestions.
Thank you.
From India, Guntur
Acknowledge(0)
Amend(0)
5Thank you.
From India, Guntur
Acknowledge(0)Amend(0)
I think firstly you should notify the PF officer because, as far as I know, a person doesn't require a new PF number upon promotion. In this case, the establishment number and employees' code both remain the same, so how come they were allotted a new number? However, if the company changes the registration number, company name, or transfers employees to a different region with a new registration, then it can happen.
Anyways, you can transfer the accumulation from the first account to another; you just have to complete some formalities.
From India, Pune
Acknowledge(0)Amend(0)
Anyways, you can transfer the accumulation from the first account to another; you just have to complete some formalities.
From India, Pune
Acknowledge(0)Amend(0)
Hi, my name is Shaheen Zafar. I have reviewed your issue, and in my opinion, if an employee receives a promotion within the same company, the PF number should not be changed. If the PF number is altered, there are two courses of action you can take:
1. Inform the individual that they need to file a claim for the account, as it cannot be transferred since they are staying within the same company.
2. Visit the PF office and speak with the person responsible for managing your company's accounts. It seems that you may have mistakenly processed the PF return under a different number for the individual. It's essential to address this error promptly.
I apologize for any inconvenience this may have caused. If you need further assistance, feel free to email me at [Email Removed For Privacy Reasons].
From India, Ranchi
Acknowledge(0)Amend(0)
1. Inform the individual that they need to file a claim for the account, as it cannot be transferred since they are staying within the same company.
2. Visit the PF office and speak with the person responsible for managing your company's accounts. It seems that you may have mistakenly processed the PF return under a different number for the individual. It's essential to address this error promptly.
I apologize for any inconvenience this may have caused. If you need further assistance, feel free to email me at [Email Removed For Privacy Reasons].
From India, Ranchi
Acknowledge(0)Amend(0)
As per my knowledge, you have to contact your local PF office and insist that they solve it. You need to show that he resigned from his post in 2007 and then rejoined. Discuss with the PF contact person, and he will guide you.
From India, Delhi
Acknowledge(0)Amend(0)
From India, Delhi
Acknowledge(0)Amend(0)
Hi, we agree with Jyoti. The available course of action is to "transfer the accumulation from the first account to another."
Thank you.
From India, Jaipur
Acknowledge(0)Amend(0)
Thank you.
From India, Jaipur
Acknowledge(0)Amend(0)
Hi, Nothing to worry about that please draft a letter to respective pf authority and request them to accumulate both account Nos as single account, get it done solved. Regards, Jeeva.K
From India, Madras
Acknowledge(0)Amend(0)
From India, Madras
Acknowledge(0)Amend(0)
why don’t you withdraw your first pf account no. amount and continue new account number. Regard Jitender Kumar
From India, New Delhi
Acknowledge(0)Amend(0)
From India, New Delhi
Acknowledge(0)Amend(0)
Dear All,
If the older (first) account is closed and the latter one is continued, the account holder is likely to lose pensionary benefits for the past period. It's better to write a letter to the EPFO and get the two accounts merged, retaining the number of the older (first) account.
To clarify, I'll give an example. The first account was opened in the year 2000 and the second in the year 2005. If the first account is closed and the balance transferred to the account opened in 2005, the account holder loses benefits for 6 years (2000 to 2005). If the second account is closed and the balance is transferred to the account opened in the year 2000, the account will be 11 years old, which does have an impact on the pension at the end of one's career.
Regards,
Jitender Kumar
From India, Pune
Acknowledge(0)Amend(0)
If the older (first) account is closed and the latter one is continued, the account holder is likely to lose pensionary benefits for the past period. It's better to write a letter to the EPFO and get the two accounts merged, retaining the number of the older (first) account.
To clarify, I'll give an example. The first account was opened in the year 2000 and the second in the year 2005. If the first account is closed and the balance transferred to the account opened in 2005, the account holder loses benefits for 6 years (2000 to 2005). If the second account is closed and the balance is transferred to the account opened in the year 2000, the account will be 11 years old, which does have an impact on the pension at the end of one's career.
Regards,
Jitender Kumar
From India, Pune
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Steps to transfer PF amount.jpg
Employee Benefits.doc