The EPFO offers all its members the facility to merge or consolidate multiple PF accounts with their current UAN. Read this article to find out the steps that individuals would need to undertake for merging multiple PF accounts.
Many individuals these days switch jobs often in pursuit of better salaries or new designations. This typically leads to multiple Employee Provident Fund accounts being opened - one with each employer. Now, the good news is that the retirement fund body - EPFO - provides users the facility to merge or consolidate multiple PF accounts through their current Universal Account Number (UAN). This article is intended to give users an insight into the various steps that they need to take in order to merge multiple PF accounts. Prior to merging accounts, an individual has to first activate his or her UAN. To do so, here are the steps that need to be followed:
- Step 1: Visit the EPFO portal
- Step 2: Click on ‘For Employees’ under the ‘Our Services’ section
- Step 3: Select ‘Member UAN/Online Service (OCS/OTCP)’
- Step 4: Press on the ‘Activate UAN’ tab
- Step 5: Enter UAN and other personal details like name, date of birth, mobile number, etc. Click on ‘Get Authorization PIN’ once all the details are filled.
The UAN will get activated after this pin is entered and authenticated.
Process to Merge PF Accounts
Method 1 - On EPFO portal
For merging existing EPFO accounts, the individual needs to visit the EPFO website. Under the “Services” tab, he or she needs to select “One employee - One EPF account” button.
A form will appear for consolidating different EPF accounts. The member needs to provide his or her mobile number registered on the UAN portal. After this, UAN and current member ID must be entered. Once these details are submitted, an OTP shall be sent to the registered number for authentication.
On submitting the OTP, a page will be displayed to input old PF account details for merger. After the old PF account number is provided and the declaration is accepted and submitted, the request to merge that account with the existing PPF account shall be sent to the EPFO.
Method 2 - Via Email
If an individual is holding two UANs, he or she can request the EPFO to deactivate the previous allotted UAN. To do so, the user would be required to send an email to - firstname.lastname@example.org, mentioning the current UAN and previous UAN. Following due verification, the earlier UAN shall be blocked and the current UAN will be kept active. The user has to later submit a claim for transferring of service and fund to the current UAN.
Points to Remember
- A user can only place a request to merge his or her accounts three days after the UAN is activated.
- The member must ensure to have his or her KYC as well as Aadhaar details updated and registered with the EPFO.
The entire process of merging two or more EPF accounts is easy, and doing so ensures that the user has one consolidated account. PF is an ideal savings option for retirement - and to make the best use of this investment instrument, individuals are advised to transfer the PF balance, instead of withdrawing. This is also recommended from a tax standpoint, given that withdrawal of PF within a period of 5 years of continuous service will result in TDS being deducted.
Recommended Read: Start Your Investment Journey? Here’s How PPF will Help You