Hi Experts!
I have two PF accounts: one is 2 years old, and another is about 3 months old. I am planning to change my organization now. Can I submit two separate Form 13s in the third organization to transfer the money from these two accounts to the new third account created? I have not yet submitted Form 13 in the second organization due to some unavoidable difficulties. I need your expert advice in this regard.
Best regards,
Narsingh
From India, Angul
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I have two PF accounts: one is 2 years old, and another is about 3 months old. I am planning to change my organization now. Can I submit two separate Form 13s in the third organization to transfer the money from these two accounts to the new third account created? I have not yet submitted Form 13 in the second organization due to some unavoidable difficulties. I need your expert advice in this regard.
Best regards,
Narsingh
From India, Angul
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More clarity is required about the query to enable us to respond. Suppose the first company you served is A and the second company you worked with is B, how long you worked with A and B should be clearly stated. Also clarify whether you are still with B or doing something else. With all such clarifications only any suggestions can be given.
From India, Madras
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118From India, Madras
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Hi Sir,
I have been working with Company A from Oct 2011 till Jan 2014. Then I joined Company B in Feb 2014 and am currently working here. I am planning to leave this company by the end of May to join a third company.
From India, Angul
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I have been working with Company A from Oct 2011 till Jan 2014. Then I joined Company B in Feb 2014 and am currently working here. I am planning to leave this company by the end of May to join a third company.
From India, Angul
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In that case, please immediately apply for the settlement of your EPF account with company A and get the money in your hand. Transferring two accounts to a third company will not only be time-consuming but also be frustrating. This is practical advice and is not necessarily based on the law.
From India, Madras
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From India, Madras
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In addition to the above-mentioned view, I suggest transferring both the EPF/EPS accumulations to the new account. However, please note that you should submit the transfer with a gap of one or two months.
Thanks & Regards,
Sumit Kumar Saxena
From India, Ghaziabad
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Thanks & Regards,
Sumit Kumar Saxena
From India, Ghaziabad
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Hi Sir,
Thank you for your valuable suggestion. You mean to say I will first submit Form 13 for transfer from A to C, and after 1-2 months, another Form 13 for transfer from B to C? A, B, C being the first, second, and third companies, respectively? One more thing, is there any danger if I do not apply for transfer? Can't I withdraw from multiple accounts after retirement?
Regards,
Narsingh
From India, Angul
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Thank you for your valuable suggestion. You mean to say I will first submit Form 13 for transfer from A to C, and after 1-2 months, another Form 13 for transfer from B to C? A, B, C being the first, second, and third companies, respectively? One more thing, is there any danger if I do not apply for transfer? Can't I withdraw from multiple accounts after retirement?
Regards,
Narsingh
From India, Angul
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Dear Narshing,
Greetings for the day.
As far as danger is concerned, the only danger you will face after retirement is getting your withdrawal claims attested by your previous employer. What will happen at that particular time is unpredictable. It is better to transfer all your accumulations to your current account.
Thanks & Regards,
Sumit Kumar Saxena
From India, Ghaziabad
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Greetings for the day.
As far as danger is concerned, the only danger you will face after retirement is getting your withdrawal claims attested by your previous employer. What will happen at that particular time is unpredictable. It is better to transfer all your accumulations to your current account.
Thanks & Regards,
Sumit Kumar Saxena
From India, Ghaziabad
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Dear Narsingh,
Please submit Form 10C and Form 19 duly filled and claim the EPF and EPS of company "A" immediately. Please keep a complete track of follow-up and get the money immediately.
After receiving both the claimed amounts in your account, submit Form 13 to the new company for transferring the accumulations in Company "B" and get the same transferred to your new PF Account.
From India, Kumbakonam
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Please submit Form 10C and Form 19 duly filled and claim the EPF and EPS of company "A" immediately. Please keep a complete track of follow-up and get the money immediately.
After receiving both the claimed amounts in your account, submit Form 13 to the new company for transferring the accumulations in Company "B" and get the same transferred to your new PF Account.
From India, Kumbakonam
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You can transfer both your PF account to the third company; there is no harm. Regarding withdrawing multiple PF accounts at the time of retirement, it is not advisable since the PF amount will not accrue any interest after 3 years. It may be termed as a dead account in the future, so why take the chance.
From India, Ahmadabad
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From India, Ahmadabad
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PF Online Transfer.pdf
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