PF Amount Transfer: Employees’ Provident Fund Organization (EPFO) is soon going to deposit annual interest on the amount deposited in the account. Soon its account holders are going to get this good news from EPFO. However, if the account holder wants full interest, then some things have to be taken care of, otherwise, he may have to suffer a loss in the amount of interest. Actually, at this time people associated with the private sector make changes in their job very quickly. At the same time, after joining the new job, the employees get the PF account opened in the new company from their old UAN itself. In such a case, the money from the new company continues to be deposited into the new PF account while it ceases to be deposited into the prior PF account.
Merge account
In such a situation, if the money of the old account is not merged with the new account, there may be a loss in the amount of interest. It is wise to merge all of your accounts in this case if you want to earn higher interest on the money in the old PF account. Link each of your PF accounts with the PF account of the current firm if you have worked for multiple employers. In such a situation, go to the website of EPFO and merge all the accounts, otherwise, the interest will be less.
Activate UAN
Let us tell you that at present 8.1% annual interest is being given by the government on the PF account. On the other hand, if you want to merge your PF account, then keep in mind that your UAN is activated. If the UAN is not activated, then it has to be activated by visiting the EPFO website and clicking on Activate UAN. Giving the relevant information will activate UAN.
PF account merger process
Visit the EPFO website to consolidate an old PF account with one that already exists.
– log in.
– Go to Services.
Click on One Employee – One EPF Account.
A form will open.
Enter your registered mobile number.
Enter UAN and your existing EPF account ID.
After that select the option of OTP.
Now OTP will come on mobile.
After entering the OTP, the old PF account will be opened.
By registering an old PF account.
Accept and submit the declaration.
Following this, the data will be checked, and in a few days, the accounts will be combined.
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