If you are looking to transfer the balance of your provident fund (PF) from an exempt organization to a non-exempt one, you must request the transfer of the PF and the Pension Fund from the respective Trust. As of now, the whole process is offline. While a transfer of VET from a non-exempt organization to another non-exempt organization is relatively simpler, the transfer of VET from an exempt organization to a non-exempt organization follows a different process.
One of the least important things that employees look at when changing jobs is the status of the new organization, that is, whether it is an exempt organization or a non-exempt company under the EPF Law. In fact, the first time most of them hear of such a distinction is when they try to transfer their provident fund (PF) from their previous employer to the new employer. Exempt organizations are those that manage the PF and the Pension Fund by themselves (subject to the EPFO guidelines), while those where the Pension Fund is maintained by the EPFO are not exempt. In other words, in exempt companies, the PF is held by a trust.
Which form for the transfer of PF
It is necessary to complete a Transfer Claim Form – Form 13 (revised) and send it to the PF A / C with exempt establishment mentioning the name of the trust and the address of the trust, ie.
Previous employer details
You will need the PF account number of the PF maintained with the previous exempt employer. For an exempt organization, the pension fund number could be different, which will also be required when completing the form. Lastly, you will need the full address of the previous employer.
Current employer details
The PF account number and the pension fund number along with the name and address of the current company must be mentioned on the form.
You will need to get certified Form 13 (revised), which can be from current employer or from previous employer. In the event that the claim is certified by the current employer, the claim must be filed with the PF Office under which the current account is maintained. Better to get certified by the previous employer as the PF funds must be transferred by them.
When filling out the form, you will be asked to enter your bank account details. Although it is a transfer for which you are requesting, the bank account details will help for verification purposes, even if the money from PF will be transferred to your current account number maintained at the EPFO Office. In addition, it is better to mention the mobile number, although it is not mandatory, since communication will be faster. As the previous PF was maintained by the PF Trust of the exempt establishment, it is necessary to send a copy of the completed (revised) Form-13 to the previous employer and another to the PF Office to transfer the details of the service under the Pension Fund to the new bill.
A delay in the transfer may occur due to incomplete or incorrect information provided on the PF transfer form. There is another important reason why the transfer of PF is delayed. In the transfer process, the EPFO office sends the PF funds to the exempt establishment along with a Schedule-K. If Schedule-K is missing, the exempt organization submits a request to the EOFO office to generate and upload it to the system. When uploading Schedule-K, the EPFO office in question must fill in the remaining information such as “From Member ID” and “To Member ID”.
Non-receipt of Schedule K by the exempt organization, i.e. your former organization could be a reason for delay and it is best to contact them to make sure. For longer delays, a complaint can be made directly to EPFO.