How can I withdraw money from EPFO?

—Seema Madani

According to the new rules of the Ministry of Labor and Employment, your account will receive interest in your EPF account till the age of 58 years. Hence, you will get interest even if there is no contribution in your previous EPF account.

Since your PF account is maintained by a trust, the establishment can be exempted from the EPF Scheme 1952. You can check the status of your establishment by going to PF Establishment Search. Visit the EPFO ​​website; Next, go to ‘Services’ > ‘For Employers’ > ‘Establishment Search’ (under the top ‘Services’). Then enter the details of the current establishment (name or PF code) to see the status of the establishment.

To transfer funds from your previous account to the current PF account maintained by the Company Trust, you need to apply online to EPFO ​​for transfer. However, you need to be registered on the member portal of EPFO ​​to file transfer claim application online. For online PF transfer, follow the steps given below:

Step 1: Login to the EPFO ​​Member Portal.

Step 2: Now click on ‘One Member – One EPF Account (Transfer Request)’ under ‘Online Services’ tab.

Step 3: Verify your personal information and PF account of current employment.

Step 4: If you click on ‘Get Details’, the previous employment details will appear.

Step 5: You can choose your current employer or previous employer to verify the claim form. However, if the existing establishment is exempted, the member can submit the claim in the form of bank account number only through the current employer. And to transfer the PF accumulation to the bank account of the trust, it will be necessary to submit the IFS code of the exempted trust.

Step 6: In the next step, click on ‘Get OTP’ to receive OTP on UAN registered mobile number and click on submit.

Archit Gupta is the founder and CEO of ClearTax.