EPFO 3.0 update will make it simple to merge or transfer multiple PF accounts into one.
EPFO 3.0 Update: Employees often change jobs, and with every new job, a new Provident Fund (PF) account may be created if they forgot to submit credentials. Over time, this leads to multiple PF accounts under one person. To solve this problem, EPFO 3.0 makes it simpler to merge or transfer multiple PF accounts into one. Here’s all you need to know:
Merging PF accounts helps you:
This helps to keep all your retirement savings in one place.
This will lead to avoiding confusion and inactive accounts.
To ensure correct interest calculation.
This makes your withdrawals and pension claims easier.
Before starting the process, make sure:
You need to check whether your UAN (Universal Account Number) is active or not.
You are required to have Aadhaar, PAN, and bank details linked with UAN.
Your personal details should match across all PF accounts.
First, you need to visit the EPFO Unified Member Portal.
Now, log in using your UAN and password.
After that, go to Online Services and click on One Member - One EPF Account (Transfer Request).
Kindly enter details of your previous PF account.
Afterwards, you are required to choose whether to get approval from your previous or current employer.
Lastly, you need to submit the request and authenticate using Aadhaar OTP.
Once approved, your old PF balance will be transferred to your current PF account.
You can also submit Form 13 through your employer to request a PF transfer manually.
EPFO 3.0 has made PF account merging faster, paperless, and employee-friendly. Having only one PF account ensures better financial planning and smooth retirement savings management.
