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The withdrawal and transfer process of Provident Fund (PF) has been made quick and hassle free by the Employees' Provident Fund Organisation (EPFO). As per the declaration made by Central Provident Fund Commissioner on 20th September, 2019, an employee does not have to initiate a transfer request anymore, nor does he/she have to withdraw the accumulated PF amount at the time of switching jobs. It automatically gets transferred from the previous to the new employer when the new employee submits certain essential information. These details are uploaded on the official website of the EPFO by the new employer. The new PF account gets activated on receiving the first transfer from the new employer.
You can withdraw your EPF by following these simple steps:
The time taken to process an EPF withdrawal claim made through the offline mode varies from 20 days to 30 days. Irrespective of whether the claim has been made online or offline, the transfer of the EPF amount is done through NEFT. The NEFT process gets completed within 2 to 3 days after the NEFT date that appears on the EPF official website.
Here is the online transfer process for PF balance:
The documents required during the withdrawal process is determined by the reason behind making the claim:
Can I withdraw my PF when I change my job?
When you switch jobs, you needn’t withdraw your PF. It gets automatically transferred from your existing employer to the new employer. In case you want to opt out of PF in your new organisation, you can withdraw from it.
How can I withdraw my PF from previous employer?
You do not need to withdraw your PF when you change jobs. Now, it gets auto-transferred from the current to the new company after your current employer makes its first contribution.
Can I withdraw my PF while working?
You can withdraw from your PF account for certain specific reasons:
Can I withdraw my pension contributions in PF account?
Yes, one cannot withdraw the pension amount if less than ten years of service period is completed.