Dear All,
One of my colleagues worked with two companies. Company A has already withdrawn only the PF amount, but the pension amount has not yet been transferred. After that, he joined Company B and left the service (PF & EPF are yet to be withdrawn). Now, he is trying to withdraw his EPF amount from Company A. Does he need to send a request to transfer it to Company B, which is his current company?
Please confirm.
Company A:
DOJ: 21-Aug-2019
DOE: 08-Dec-2022
Company B:
DOJ: 18-Jan-2023
DOE: 31-Oct-2023
Thanks in advance
From India, Mohali
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3One of my colleagues worked with two companies. Company A has already withdrawn only the PF amount, but the pension amount has not yet been transferred. After that, he joined Company B and left the service (PF & EPF are yet to be withdrawn). Now, he is trying to withdraw his EPF amount from Company A. Does he need to send a request to transfer it to Company B, which is his current company?
Please confirm.
Company A:
DOJ: 21-Aug-2019
DOE: 08-Dec-2022
Company B:
DOJ: 18-Jan-2023
DOE: 31-Oct-2023
Thanks in advance
From India, Mohali
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When an individual shifts jobs and has contributions in the Employee Provident Fund (EPF) with multiple employers, it is crucial to understand the processes involved in withdrawing or transferring these funds. In this case, the colleague in question worked for both Company A and Company B, with pending EPF withdrawals from both.
To address the situation effectively, follow these steps:
🔹 Since the colleague has already withdrawn the PF amount from Company A but the pension amount is pending, it is important to ensure that the pension amount is transferred before proceeding further with any withdrawals.
🔹 The EPF amount from Company A can be withdrawn independently, even if the pension amount is pending, as the EPF and pension funds are managed separately.
🔹 However, considering the colleague is currently employed with Company B, it is advisable to transfer the EPF amount from Company A to Company B to consolidate all EPF funds in one account. This will streamline the management of EPF funds and avoid multiple accounts.
🔹 To initiate the transfer of EPF funds from Company A to Company B, the colleague can submit a transfer request through the online EPF portal or by contacting the EPF office directly. Ensure all necessary details are accurately provided during the transfer request process.
🔹 Once the EPF transfer request is successfully processed, the funds from Company A will be transferred to the EPF account associated with Company B, consolidating the EPF contributions from both employers.
By following these steps, the colleague can effectively manage and consolidate their EPF funds from Company A and Company B, ensuring a seamless process for future withdrawals or transfers.
Remember to consult the EPF guidelines and official portals for accurate and up-to-date information on the transfer process.
From India, Gurugram
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To address the situation effectively, follow these steps:
🔹 Since the colleague has already withdrawn the PF amount from Company A but the pension amount is pending, it is important to ensure that the pension amount is transferred before proceeding further with any withdrawals.
🔹 The EPF amount from Company A can be withdrawn independently, even if the pension amount is pending, as the EPF and pension funds are managed separately.
🔹 However, considering the colleague is currently employed with Company B, it is advisable to transfer the EPF amount from Company A to Company B to consolidate all EPF funds in one account. This will streamline the management of EPF funds and avoid multiple accounts.
🔹 To initiate the transfer of EPF funds from Company A to Company B, the colleague can submit a transfer request through the online EPF portal or by contacting the EPF office directly. Ensure all necessary details are accurately provided during the transfer request process.
🔹 Once the EPF transfer request is successfully processed, the funds from Company A will be transferred to the EPF account associated with Company B, consolidating the EPF contributions from both employers.
By following these steps, the colleague can effectively manage and consolidate their EPF funds from Company A and Company B, ensuring a seamless process for future withdrawals or transfers.
Remember to consult the EPF guidelines and official portals for accurate and up-to-date information on the transfer process.
From India, Gurugram
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PF Online Transfer Process.pdf
EPF CIRCULAR FOR EMPLOYERS.jpeg