What is a provident fund, what is an EPFO, where does your money get deposited and how can you withdraw from this account, everyone who knows the job will know. Do you know about Unexempted Provident Fund and Exempted Provident Fund? And if you know how to transfer from one fund to another, it is important to know about it.
Exempted Provident Fund means that the PF account is managed by a trust created by the company. Employees working in institutions like TCS, Wipro, HUL, BHEL and Infosys fall in this category. The Unexempted Provident Fund is managed on behalf of the EPFO which is a government body.
How to find which category your company is in?
In such a situation, if you work in an Unexempted Institute and the next job is in an Exempted Institute, which has its own trust, then it is important to know how the PF transfer will happen. In the same way if you work in an Exempted Institute and change the job in Unexempted Institute, then it is important to know how PF transfer will happen. Which category a company comes in can be easily detected on the EPFO website. On the EPFO website, the option of Establishment Search will appear in the option of Services. Click on it and after entering the name of the company, its complete information will be revealed.
Unexempted to Exempted PF Transfer
Your UAN number remains the same when you change jobs, only your member ID changes. In such a situation, if you change the job at Unexempted to Exempted Institute, then you have to apply online on EPFO website for PF transfer. In this, the claim has to be submitted to the trust. Further processing is done by him.
How will the fund be transferred, the whole process
First of all, go to EPFO’s website and login through UAN number. Here, in the online services option, one member has to go to One EPF account (transfer request) and submit the transfer request. Claims can also be checked online. Claim status can be checked by clicking Track Claim Status in the online services option. In a few days the fund is transferred from the old employer to the new employee. When your fund is transferred to the Exempted Institute, you cannot check it on the UAN website. For this you have to contact the trust.
Exempted to Unexempted PF Transfer
In this situation, the employee has to apply to the trust of the company and give information that he is changing job from this institute to another, hence his PF and pension fund should be transferred. For this, he has to fill Form 13. Apart from this, a form has to be submitted to the EPFO office, which updates the pension fund and also updates your service history. When you submit the form to the trust, at that time you get Annexure-K which needs to be carefully checked. It contains complete information about EPF account. The trust issues it to the EPFO office.
Form 13 to be sent to EPFO office
Since the Universal Account Number was released in 2014, the method of transferring PF to both types of institutions has been the same. This work can be done online from home. In the case Exempted to Unexempted, first go to the EPFO website. Login with UAN and password. In the online services option, one member has to select one EPF account (transfer request). The current or old employer will first claim his claim. You can track request by going to Track Claim Status. The same Form 13 option will appear, which is to be downloaded and signed and sent to the given office address of EPFO under the same form.