How to Transfer EPF Account?

 

How to Transfer EPF Account?

EPF (Employee’s Provident Fund) deductions every month from your salary can be painful initially but well, in the long run these small deductions can build a huge amount of wealth because of the compound interest.

Whenever, you change your job, don’t forget to transfer your EPF account and its balance with the new employer. This is because many people do a common mistake and that is, when they change their employer, they simply open a new EPF account.

Up to now, there was not any problem in doing this because the older account keep accumulating interest income over the period of time. However according to the new rules, After 2011, after 3 years of inactivity, your EPF account will stop earning any interest income.

And that’s why it is better to transfer your EPF account with the new employer whenever you change a job.

You need to fill Form 13 to transfer your EPF account with the new employer.

Download Form 13 Now

You will have to fill the Form 13 and submit it with EPF India and after that it will take 1 month to transfer your account and all of its balance to the new employer.

So know the Form 13 well and use it to transfer your EPF account whenever you change a job.