Transferring PF Interest from an Old Account to a New One: An Updated Guide

Introduction to PF Account Transfers

Employee Provident Fund (EPF) or PF accounts are crucial for employees in India. When there's a need to transfer your PF from an old to a new account, understanding the process is essential. If you're interested in moving credits, including interest, from your old PF account to a new one, this guide will walk you through the steps.

Process for Transferring PF from Old to New Account

The transfer of PF from one PF office to another can be done exclusively online. Here's a detailed step-by-step guide:

Initiate the Online PF Transfer Form: Begin by accessing the EPF insurance portal and selecting the option to transfer your PF account from one office to another.

Download and Sign the PF Transfer Form: Once you initiate the form, download it, sign it, and send the soft copy to both your existing or new employer, asking for their approval with the PF transfer claim number.

Request Annexure K Form: Request your employer to send the Annexure K form, which is necessary for the transfer.

Complete the Annexure K Form: If you can access it via the EPF portal, download the Annexure K form and send it to your current employer for the transfer to be completed into your current active PF account. This process usually takes 21-25 days.

Interest Transfer and PF Account Closure

If interest has been credited to your old EPF account after the transfer of funds, it can be transferred to your new PF account. However, it's crucial to check the balance of your old account and raise a new request if the interest was not transferred automatically. While rules stipulate that the transfer should be accompanied by interest, errors might occur. In such cases, contact the respective PF office to clarify the process.

Note: Even if the transfer of the main amount has been completed, the interest credited to the old account will still be transferred until the date of claim settlement. After this, your old PF account is considered closed, and interest cannot be credited to a closed account.

Special Cases and UAN

With the introduction of the Unique Identification Number (UAN), the concept of old and new PF accounts is no longer relevant. All contributions are now linked to your UAN. If you haven't transferred your old PF to your UAN yet, do it as a priority. Additionally, all PF accounts are credited with the due interest as and when it is credited to others.

Conclusion

Transferring funds from an old PF account to a new one is a straightforward process, as long as you follow the guidelines provided by the EPF office and your employer. Ensure that you keep track of the transfer dates and interest updates to avoid any discrepancies.

Key Takeaways:

Online PF transfers are simple and can be done through the EPF portal. Interest should be transferred along with the main amount, but seek clarification from the PF office if necessary. With UAN, all PF accounts are linked, simplifying the management of your contributions.