Today, the working masses often change organizations in the quest for better career opportunities and paycheques. Now, such job switching results in alterations and merger of the old and new provident fund records of the employees. For amendment in such issues, the legislature launched a Universal Account Number (UAN). This is a unique 12-digit account number given to all EPF members. Using this, you can merge all your EPF accounts.
You will have to write to the EPFO for blocking your previous UAN and assure that you transfer the balance amount to your current active UAN. This can be done online through the official portal. The rules say that every member of the Employees’ Provident Fund Organisation (EPFO) must be having only one UAN.
The UAN permits linking all your provident fund accounts in a single one. This eases the tracking of these accounts. There are a few more advantages of UAN like an employee can exchange funds beginning with one PF account then onto the next one very quickly. One can likewise interface with your Aadhar number to UAN that frees you of the signature requirement for withdrawal or transfer of PF money. In case you are having PPF accounts, you will have to combine them into a single one. Members will have access to downloading the passbook from the EPFO portal in PDF format.
Steps describing the process of merging two EPF accounts
- The KYC process requiring PAN, Voter ID, Bank Account, etc verification must be complete.
- The person must be having a UAN, and it must be linked to the existing EPF account.
- After activating UAN, waiting for three days is mandatory before starting the process of merging EPF accounts.
Online Process of consolidating two EPF Accounts into one using UAN:
- Visit the official website of EPFO.
- Click on services.
- Then select one Employee and one EPF Account link.
- After this selection, you will see a window where the employees of the organization will have to fill in the necessary details like the UAN, phone number, etc.
- After filling in all the details click on the Generate OTP tab and verify the OTP that you receive on your registered mobile number.
The above procedure is easy to complete and, therefore, can be done by the individual itself. An alternative way of doing this is to submit the claim either through the present employer or through the person having the quit from.
Consolidating two EPF accounts is simple and the combined account so formed makes life easier. You get a single amount when you require pulling back your employee’s provident fund. EPFO is presently planning to make Aadhar, the essential address proof after the Aadhar Act of 2016 was passed. Individuals having Aadhar seeded UAN can avoid the hassle of verification of claim forms by the company.
Is the process of linking the UAN and Adhaar beneficial?
You must have figured out the importance of consolidating two EPF accounts into a single one. In the same way, it is extremely essential to comprehend that you should link your UAN with your Aadhar Card. The benefits are many like settlement of payments turns out to be easy, the process gets more precise and much more. So, if you haven’t presented your Aadhar card for the purpose so far, you ought to do it at the earliest.
Offline Process of transferring EPF account
You can apply for the offline transfer through Form 13. The standard procedure of doing the same starts with filling Form-13 after downloading it from the EPFO official website. You can even get this from your new organization HR. Now, in the form, you have to enter the details of your current PF account and submit it to your new organization HR. The Provident fund balance from the previous organization will accordingly begin accounting in the new PF sum. Whether you work in a private organization or a government firm the procedure is the same for all. Each time you switch your job it is simply the new organization detail and the related record that needs to be refreshed.
Frequently Asked Questions.
How can I get a UAN for myself?
Your employers will provide you with the required UAN. It will also be mentioned on the salary slip you receive.
What is the result of having 2 UANs in the same period?
Having two UANs in the same period is completely illegal. You should be having only one UAN, and all your operating EPF accounts must be linked to the same.
What is the portal or official URL or website to log in to the UAN?
You can enter this URL, www.epfindia.gov.in on any search engine like Google and type your username and password to check-in for the necessary UAN details.
Is it mandatory to link EPFO with Aadhaar?
Yes, the EPFO has made it mandatory to link your Aadhaar with your Employee Provident Fund Account to access the portal online. There are other benefits as well as doing the same.
How many days will it take to merge two PF accounts together?
Generally, the time taken is about 20 days for completing the process from the date of submission. However, it might take less time when you operate online.
