Hi Community-
We have a question, we read that -If an Employee change his/her employment, then employee contribution and employer 3.67% EPF will transfer automatically to new company.
What about remaining EPS contribution in previous company? How to claim or transfer the same to new company?
Please advise on the details.
Regards,
Anu
Hi @Anushree
According to EPF scheme rules, pension contributions are usually not transferred when individual transfers his/her EPF account. This is because the contributions made by the employer is in the name of the employee and goes into a common pool. While transferring the EPS account, only the service history of the employee gets transferred from the previous employer’s regional PF office to new employers’ regional PF office.
Hi,
Once joined the new company they can apply for Transfer online. EPS, EPF and service history will be transferred to PF Account.
However the problem comes with companies having PF Trust. If PF trust is exempted from EPF then Pension fund can’t be transferred only EPS and service history will be transferred. Employee need to claim the pension fund after cessation of his service from the OLD PF Account.
HI,
While service details are transferred from an older to a new account, the EPS amount is retained in the older account. The PF passbook of your previous organisation reflects the EPS amount and your current EPF account (under Service history tab of UAN portal) reflects the carried forward service period.
Transfer of service details helps you to keep a track of number of years of work you have put in. So if you are in your third job, and have consolidated your EPF in your new account, your EPS amount for the two earlier employers will reflect in the respective PF passbooks only.
I hope above information will help you.