PF Withdrawal: Want your provident fund money? Don’t make this mistake

PF Withdrawal: Want your provident fund money? Don’t make this mistake

PF Withdrawal: Provident Fund is one of the safest investment options for the salaried class and also the first you might turn towards for immediate financial needs. The scheme allows you to save money by investing a part of your salary in EPF. In fact, EPFO has got thousands of requests for money withdrawal with coronavirus crisis taking a toll on people’s pockets.

Similarly, a lot of people withdraw money from their PF account while switching their job. In that case, an employee opens a new PF account in another company, where you could end up making a big mistake, by not giving the old Universal Account Number (UAN).

With the UAN attached to Aadhaar card, chances are you won’t be able to open a separate PF account. But, if your old Provident Fund account was opened before UAN came into existence, there are chances of new UAN allotment. Once the person gets registered with a new UAN, he or she can only see a new company’s passbook or PF transactions.

Having two different UAN numbers will make it difficult for the PF account holder to see the details of account as the old fund gets frozen. Those who have two UANs can’t even transfer their old PF balance to their new account. Hence, it is necessary that both UANs be merged.

It is easy to merge both UAN numbers by exercising either of the two options: Sending an e-mail at EPFO office by updating them about their UAN. via mail at uanepf@epfindia.gov.in. Here we have to match the old and new UAN number.

After this, the EPFO will cross-examine both of your UAN numbers and after verification, your old UAN number will be blocked from the EPFO’s side. After this, you can apply for transferring your old PF deposits into your new PF account.

You can also complete the process by logging in at the EPFO official website. In this option, the EPFO subscriber has to log in at epfindia.gov.in. There they need to go to the ‘Employee One EPF account’ option and enter their registered mobile number, company ID, UAN number, etc. A

Thereafter, enter the OTP received on your mobile number in the given column. Now select the option, ‘click on a new page’ to get all the details of your old EPF. After you select this option, all your old PF details will be filled in the given column automatically.

Source:-zeebiz

Share: