Earlier, former employers had the right to declare the 'Date of Exit' of EPF account holders as the feature was not available online to subscribers.
Every person who works or has worked for an organisation is aware of Provident Fund (PF). The moment you receive your first salary you become a member of the Employees’ Provident Fund Organisation (EPFO). Your EPF account gets a contribution from both your salary and the employer as well.
In some good news, the EPFO can now update important information online like 'Date of Exit', 'EPF transfer' and even 'EPF Withdrawal'. Let us know a little about these terms and how to update the information on the EPFO portal.
1. EPF withdrawal claim
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An employee can make an EPF withdrawal claim if he is unemployed or when he retires. The employee can withdraw 75% of the EPF balance after one month of unemployment and the remaining 25% can be withdrawn after two months of unemployment. Your Aadhaar should be linked with your UAN if you want to make an online withdrawal claim.
2. How to withdraw PF online
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Log in to the EPFO portal- unifiedportal-mem.epfindia.gov.in/memberinterface. Enter your Universal Account Number (UAN) and password. Under 'Online Services' click on 'Claim'. Now, enter the last four digits of your bank account and 'Verify'. Click on 'Proceed for Online Claim'. From the drop-down menu select 'PF Advance (Form 31)'. Select your 'Purpose' from the drop down menu. After entering the required amount, upload the scanned copy of the cheque and enter your address. Now, click on 'Get Aadhaar OTP' and enter the OTP received on Aadhaar-linked mobile number. Your claim will be submitted.
3. Transfer of EPF
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When you opt for a job change, your Universal Account Number (UAN) remains the same but you need to transfer your PF account registered with your old employer to the new one. If an employee does not transfer their PF account to the new employer but retains the PF account, the period will not be taken into account for calculating 5 years of continuous service.
4. How to transfer PF online
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Log in to the EPFO portal- unifiedportal-mem.epfindia.gov.in/memberinterface. Enter your Universal Account Number (UAN) and password. Under 'Online services' click on 'One Member - One EPF Account (Transfer request)'. Verify 'Personal Information and 'PF Account' for present employment. Once, you select 'Get details', PF account details of the previous employer would appear.Choose either previous or current employer for attesting form. Click 'Get OTP' to receive OTP on UAN registered mobile number. Enter 'OTP' and click on 'Submit'. Once your employers, present or past, verifies the details, your account will be The account will be transferred when your employer, present or past, verifies the details. The old balance would be carried forward to your existing PF balance.
5. Date of Exit
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Earlier, ex-employers had the right to declare the date of exit of EPF account holders as the feature was not available online to subscribers. It is crucial to mark your date of exit as it might affect claim submissions and settlements later on. If your date is not marked correctly after switching jobs, then your employment might not be treated as continuous and you might be asked to pay tax on the interest earned during the intervening period.
6. How to update the 'Date of Exit' online on the EPFO website.
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Log in to the EPFO portal- unifiedportal-mem.epfindia.gov.in/memberinterface. Enter your Universal Account Number (UAN) and password. Under the ‘Manage’ option click on ‘Mark Exit’. In the dropdown menu of ‘Select Employment’ choose your PF account number. Enter the date of exit and reason of exit. Select the ‘Request OTP’ option and enter the OTP sent on your registered Aadhar-linked mobile number. Now select the checkbox and then click on ‘Update’ and then ‘Ok’. Your date of exit will be updated successfully and you will get a message regarding the same. You can go to ‘View’ and ‘Service History’ to see the joining and exit from both EPF and EPS.
