Hi, My new employer took PF Number of Old Employer in the PF Nomination form. Why do they want the Existing PF Number? Will I get New PF Number for the new employer or it will remain same?
From India, Mumbai
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From India, Mumbai
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It depends on your decision. If you want to continue with the same number, then the employer will process your PF transfer to the new account. Otherwise, if you want to withdraw your PF amount from the previous employer, you may approach your previous employer for your PF claim. However, it is suggested that PF transfer is always better to continue your PF service.
Regards,
From India, Hyderabad
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1Regards,
From India, Hyderabad
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Thank you, Rajendra, for the reply. I am getting confused. I thought every employer gives a unique PF number to its employees. Is it possible that one employer uses another employer's PF number to deposit an employee's PF contribution (this is different from PF Transfer)?
Example Scenario
For example:
Employer A - PF No. 123
Employer B - PF No. (Same as Employer A)?
Regarding the transfer, I understand that I need to have two separate PF numbers to facilitate the transfer from Employer A - PF No. to Employer B - PF No. Could you please clarify this doubt for me?
From India, Mumbai
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Example Scenario
For example:
Employer A - PF No. 123
Employer B - PF No. (Same as Employer A)?
Regarding the transfer, I understand that I need to have two separate PF numbers to facilitate the transfer from Employer A - PF No. to Employer B - PF No. Could you please clarify this doubt for me?
From India, Mumbai
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Understanding PF Account Numbers
The PF number is given by the government, not by the employer. It is essentially the PF account number. This is the first thing you need to know. If you want to close the PF account of your first employer, you must wait 2 months to apply for withdrawal after your resignation. If you then open another PF account with a second employer under the same name, it can create issues when you resign from the job. The same thing happened to me.
So, I suggest keeping the same PF account number until you retire. By doing so, you will benefit. If the account continues for 3 years, you can withdraw the amount without closing the account. After 5 years, you will have the option for a loan, either for a house or marriage.
My best suggestion is not to close the PF account with your first employer. Just submit Form 13 to your present employer so that your account will be transferred to the current company from the previous employer.
Regards.
From India, Hyderabad
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The PF number is given by the government, not by the employer. It is essentially the PF account number. This is the first thing you need to know. If you want to close the PF account of your first employer, you must wait 2 months to apply for withdrawal after your resignation. If you then open another PF account with a second employer under the same name, it can create issues when you resign from the job. The same thing happened to me.
So, I suggest keeping the same PF account number until you retire. By doing so, you will benefit. If the account continues for 3 years, you can withdraw the amount without closing the account. After 5 years, you will have the option for a loan, either for a house or marriage.
My best suggestion is not to close the PF account with your first employer. Just submit Form 13 to your present employer so that your account will be transferred to the current company from the previous employer.
Regards.
From India, Hyderabad
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The problem I am facing now is that I joined Company A and got PF no. A123. Then I resigned and joined Company B. Here, Company B took the PF Number of Company A during the nomination process. Also, I didn't initiate my PF transfer from Company A to Company B. Due to some circumstances, I had to resign from Company B within 2 months; as a result, I didn't receive a new PF number from Company B. Currently, I am working in Company C.
PF Transfer Dilemma
So, should I approach for PF transfer to Company A or Company B? Or will it be a separate transfer from Company A to Company C and then Company B to Company C? I have not initiated the transfer from Company A to Company B, and I don't have any PF Number that was given by Company B.
Thank you.
From India, Mumbai
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PF Transfer Dilemma
So, should I approach for PF transfer to Company A or Company B? Or will it be a separate transfer from Company A to Company C and then Company B to Company C? I have not initiated the transfer from Company A to Company B, and I don't have any PF Number that was given by Company B.
Thank you.
From India, Mumbai
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According to my knowledge, since you mentioned that you worked only for 2 months in Company B, it is not valid to open a PF account. You need to have worked for at least 6 months to get a PF account number. Therefore, you likely did not receive a PF account number from Company B. You can transfer your PF from Company A to Company C directly using Form 13.
As far as I know, the PF account number will differ from company to company. The only constant is that the amount credited to the PF account of the previous company will be transferred to the new account number provided by the new company.
Additionally, if you work for any company for 6 months, only then will you have a PF account number. The amount deducted from your salary will not be credited if you work for less than 6 months.
Regards,
From India, Hyderabad
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As far as I know, the PF account number will differ from company to company. The only constant is that the amount credited to the PF account of the previous company will be transferred to the new account number provided by the new company.
Additionally, if you work for any company for 6 months, only then will you have a PF account number. The amount deducted from your salary will not be credited if you work for less than 6 months.
Regards,
From India, Hyderabad
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PF Online Transfer Process.pdf
EPFO Simplified PF Transfer Process.jpeg