Changing jobs is a significant milestone, but it comes with its own set of tasks to manage, one of the most important being your Provident Fund (PF). If you’re wondering how to withdraw PF online after changing jobs, you’re not alone. Many employees find themselves in this situation, unsure about the process, rules, and options available. In this blog, we will walk you through the entire process, answer common queries, and explain the steps to apply for PF withdrawal or transfer seamlessly.
Whether you are looking to withdraw PF after resignation or want to transfer your PF balance to your new employer, this guide covers everything you need to know.
What Happens to Your PF After Job Change?
When you leave your job, the PF account associated with your previous employer is not automatically closed. You have three main options for dealing with your PF balance:
- Withdraw the PF Amount: You can choose to withdraw the entire PF balance if you don’t intend to transfer it to your new employer.
- Transfer the PF to the New Employer: If you are joining a new company, you can transfer the balance from your old PF account to your new PF account.
- Keep the PF Account Active: If you are temporarily unemployed or not transferring to a new employer immediately, you can leave your PF account with the previous employer and keep it intact, as long as it remains active.
When Can You Apply for PF Withdrawal After Job Change?
You can apply for PF withdrawal after a job change under the following circumstances:
- Full Withdrawal: You can apply for full withdrawal if:
- You have not joined a new employer.
- You do not intend to transfer your balance.
- You have completed at least two months of unemployment after leaving your previous job.
- Partial Withdrawal: In certain cases, such as for medical emergencies or educational purposes, you can opt for partial withdrawal of your PF balance before completing two months of unemployment.
- Transfer of PF Balance: If you are joining a new employer, it is highly recommended to transfer the PF balance to your new employer’s account to continue saving for your future.
Documents Required for PF Withdrawal After Job Change
Before you apply for PF withdrawal online or transfer, ensure that you have the following documents:
- Aadhaar Card: For identity verification and linking with your UAN.
- PAN Card: For tax-related purposes.
- Bank Account Details: A copy of your bank passbook or a canceled cheque.
- UAN Number: Your Universal Account Number (UAN) must be activated and linked with your Aadhaar for smooth processing.
- Exit/Separation Letter: A copy of the letter from your previous employer confirming your exit can be required in certain cases.
How to Withdraw PF Online After Job Change
Now that you understand the eligibility and documents required, here’s how you can apply for PF withdrawal online after job change:
1. Log in to the EPFO Member Portal
- Visit the EPFO Member Portal (https://www.epfindia.gov.in).
- Log in using your UAN and password. If you don’t have a UAN or have not activated it, you can do so on the EPFO website by linking it with your Aadhaar.
2. Select the “Withdrawal” Option
- After logging in, navigate to the “Online Services” tab and select “Claim (Form-19/10C/31)”.
- If you wish to withdraw the entire PF balance, select Form 19 (for final settlement) to initiate the claim.
- If you want to transfer the balance to your new employer, select Form 13.
3. Enter Your Bank Details
- Ensure that the bank account you wish the funds to be transferred to is linked to your UAN.
- The bank account details will be used to credit the PF amount once the claim is processed.
4. Fill in Your Details
- Confirm your personal details, including your name, date of birth, and address, ensuring they match the records in your EPFO account.
- If required, submit a separation letter or proof of your exit from the previous employer.
5. Submit the Claim
- After filling in the necessary details, submit the claim for processing. EPFO will verify the data and process the request.
- Tracking the Claim: After submission, you can track the status of your PF withdrawal claim through the EPFO portal by logging in and checking the claim status.
When to Expect Payment?
After submitting your PF withdrawal request, the processing time usually takes around 7 to 15 working days, provided there are no discrepancies in your KYC or bank details. If there are any issues, EPFO might request additional documents or corrections before processing the claim.
Once approved, the PF amount will be credited directly to the bank account linked with your UAN.
How to Transfer PF to a New Employer After Job Change?
If you are joining a new employer, it’s best to transfer your PF balance to your new account. Here’s how you can do that:
1. Log in to the EPFO Member Portal
- Log in using your UAN and password.
2. Select the “Transfer Request” Option
- From the dashboard, go to the “Online Services” section and choose “Transfer Request (Form 13)”.
- This allows you to transfer the balance from your old PF account to your new employer’s PF account.
3. Provide Employer Details
- Enter the details of your old and new employers, including their EPF codes. Your old employer must approve the transfer request before it is finalized.
4. Submit and Track the Transfer
- After submitting the transfer request, your old employer will receive a request for approval. Once approved, the transfer process will be completed, and your balance will be moved to the new account.
- You can track the status of the transfer on the EPFO portal.
Common Issues When Withdrawing PF Online After Job Change
While withdrawing your PF online after a job change is straightforward, there are some common issues you might face:
- Mismatch in Personal Details: Ensure that your name, date of birth, and other details match across your EPFO records, Aadhaar, and PAN to avoid rejections.
- Incomplete KYC: Your KYC (Aadhaar, PAN, and bank details) must be fully updated in the EPFO system.
- Incorrect Bank Details: Double-check your bank account details to ensure there are no errors that could delay the transfer.
- Pending Employer Approval: If your previous employer has not approved the transfer or updated your exit date, your claim may get stuck.
FinRight Can Help with PF Withdrawal
At FinRight, we help individuals facing difficulties with PF withdrawal or transfer after a job change. Whether it’s a claim rejection or pending transfer request, we guide you through the entire process with ease. We ensure that your PF balance is successfully withdrawn or transferred, so you don’t have to worry about delays.
Conclusion
Applying for PF withdrawal after a job change is a relatively simple process, but it requires attention to detail, especially regarding KYC, personal information, and employer records. By following the steps outlined in this guide, you can ensure that your PF claim is processed smoothly and quickly. And if you face any issues, FinRight is here to help you every step of the way!
Want to withdraw or transfer your PF?
Contact FinRight for expert assistance and fast processing of your PF withdrawal!
FAQ: How to Apply for PF Withdrawal After Job Change
1. How can I withdraw my PF after changing jobs?
You can withdraw your PF online by logging into the EPFO member portal with your UAN. From there, you can select the withdrawal option and fill in the required details, including your bank account information. After verification, your PF balance will be credited directly to your bank account.
2. Can I withdraw my PF before two months of unemployment?
Yes, you can withdraw your PF even before completing two months of unemployment, but the reason must be valid (like medical emergencies, education, or home construction). In such cases, you can apply for a PF advance.
3. What documents are required for PF withdrawal after job change?
You will need the following documents for PF withdrawal:
- Aadhaar Card (linked to your UAN)
- PAN Card (for tax purposes)
- Bank account details (bank passbook/cancelled cheque)
- Exit/Separation letter (if applicable)
4. How long does it take for EPF withdrawal to be processed?
It usually takes 3-22 working days for your PF withdrawal request to be processed after submission, provided all your details (such as KYC and bank account) are correct.
5. What should I do if my PF withdrawal request is rejected?
If your PF withdrawal request is rejected, you should:
- Check the rejection reason on the EPFO portal.
- Correct any discrepancies (incorrect details, missing KYC, etc.).
- Reapply after making the necessary updates. If issues persist, you can contact FinRight for assistance.
6. Can I transfer my PF balance to my new employer?
Yes, you can transfer your PF balance from your old employer to your new employer through the EPFO portal. Simply log in, select the transfer option, and fill in the required details of your new employer.
7. What if my old employer hasn’t updated my exit date in the EPFO records?
If your old employer hasn’t updated your exit date, you won’t be able to withdraw or transfer your PF. You will need to ask your previous employer to raise a Joint Declaration or provide a clarification letter to resolve the issue.
8. Can I keep my old PF account active?
Yes, you can keep your old PF account active if you are not transferring your balance. However, it is generally recommended to transfer your balance to continue saving for retirement and avoid any complications later.
9. Do I have to pay tax on PF withdrawal after job change?
No, PF withdrawals are tax-free if the account has been active for more than 5 years. If withdrawn earlier, tax will be levied on the withdrawal amount, and you may also be subject to penalty if your EPF account is less than 5 years old.
10. Can I apply for PF withdrawal if I am joining a new job?
It is not advisable to apply for PF withdrawal if you are joining a new job. Instead, it is recommended to transfer your PF balance to your new employer’s PF account to continue saving for retirement without any tax implications.
11. How can FinRight help with my PF withdrawal after job change?
At FinRight, we assist you throughout the PF withdrawal or transfer process, from filing the forms to ensuring all KYC details are correctly updated. Our experts will help you resolve any issues or discrepancies and ensure your claim is processed smoothly and efficiently.
