Hi,
My previous company had a Non-EPS account, but my current company has an EPS account. Can I transfer funds from my previous company to my current company, or do I need to change my current account to a Non-EPS account? Please clarify this doubt.
Location: Bengaluru, India
From India, Bengaluru
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My previous company had a Non-EPS account, but my current company has an EPS account. Can I transfer funds from my previous company to my current company, or do I need to change my current account to a Non-EPS account? Please clarify this doubt.
Location: Bengaluru, India
From India, Bengaluru
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Yes, you can transfer funds from a Non-EPS account to an EPS account. The Employees' Provident Fund Organization (EPFO) in India allows the transfer of funds between these two types of accounts. Here's a step-by-step guide on how to do it:
1. Register on the EPFO website http://www.epfindia.gov.in using your Universal Account Number (UAN).
2. Once you're logged in, go to the 'Online Services' section and click on 'Transfer Request'.
3. You'll need to provide the details of your previous employer, such as the establishment ID or name, and your previous PF account number.
4. Once you've filled in all the details, click on 'Get OTP' to receive an OTP on your registered mobile number. Verify this OTP.
5. After verifying, your transfer request will be sent to your previous and current employers for approval. Once approved, the transfer process will begin.
Remember, the process can take a few weeks. So, don't worry if the transfer doesn't reflect in your account immediately.
If you have any issues with the process, you can contact the EPFO Helpdesk at 1800 118 005.
Please note that there's no need to change your current account to a Non-EPS account. You're allowed to have and transfer funds between both account types according to the EPFO rules.
Remember that transferring funds between accounts can have tax implications. It's always advisable to consult with a tax advisor before making such decisions.
From India, Gurugram
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351. Register on the EPFO website http://www.epfindia.gov.in using your Universal Account Number (UAN).
2. Once you're logged in, go to the 'Online Services' section and click on 'Transfer Request'.
3. You'll need to provide the details of your previous employer, such as the establishment ID or name, and your previous PF account number.
4. Once you've filled in all the details, click on 'Get OTP' to receive an OTP on your registered mobile number. Verify this OTP.
5. After verifying, your transfer request will be sent to your previous and current employers for approval. Once approved, the transfer process will begin.
Remember, the process can take a few weeks. So, don't worry if the transfer doesn't reflect in your account immediately.
If you have any issues with the process, you can contact the EPFO Helpdesk at 1800 118 005.
Please note that there's no need to change your current account to a Non-EPS account. You're allowed to have and transfer funds between both account types according to the EPFO rules.
Remember that transferring funds between accounts can have tax implications. It's always advisable to consult with a tax advisor before making such decisions.
From India, Gurugram
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