Merging two PF accounts is a complicated process if you have all the prerequisites in place before initiating the request. You simply need to keep the following things in mind when filing a merger request:
- You must complete the KYC procedures before filing a merger request. This includes verifying your Aadhaar, bank account, PAN, and other details.
- You should have a UAN that is linked to your present EPF account.
- You have to wait for at least 3 days post-UAN activation to initiate a merger request
Steps on how to merge two PF account online
1. Via the EPFO portal
Here is a step-by-step guide on how to merge two PF accounts:
Step 1: Visit the EPFO website
Step 2: Sign in with your UAN and password
Step 3: Click on the ‘Online Services’ tab
Step 4: Select the ‘One Member - One EPF Account’ option
Step 5: Fill out the required information like your name, UAN, etc.
Step 6: Click on the ‘Generate OTP’ option
Step 7: Enter the OTP sent to your registered phone number and click ‘Verify OTP’
Step 8: In the pop-up window that follows, fill in details of your earlier PF accounts you wish to merge
Step 9: Click on the declaration box and then the ‘Submit’ button
2. Via email
In case you have two PF account, you can request the EPFO to deactivate your previous UAN through email. Simply email your request to uanepf@epfindia.gov.in, outlining your current and previous UANs. EPFO will conduct the necessary verification process to deactivate your previous UAN. You will also need to submit a claim request for the transfer of service and funds from the previous UAN to the current UAN.
Also read: PF balance check
Why merge EPFO accounts in India
- Consolidation of funds: Understanding how to merge your PF accounts can help consolidate your funds in one account, making it easy to track and manage your retirement savings.
- Reduced complexity: Tracking and managing multiple PF accounts can be a complex process, requiring you to remember login information, passwords, and other related information. Maintaining one account can simplify the management process.
- Tax benefits: Merging your PF accounts combines your entire employment history to establish a continuous service record. EPF withdrawals are tax-free after 5 years of continuous service. Withdrawing more than Rs. 50,000 from your EPF account before 5 years of continuous service attracts a 10% TDS.
Things to do after merging your PF accounts
- Update your KYC: Review and update your KYC information if required to ensure your Aadhaar, PAN, bank account, and contact details are accurate and current.
- Monitor your PF balance: Regularly check and monitor your PF balance via the EPFO portal to keep track of your retirement savings.
Conclusion
The EPFO's online portal lets you easily merge multiple PF accounts. This consolidates your benefits for streamlined retirement planning. If job changes have left you with multiple UANs, learn how to combine your EPF accounts under a single UAN.
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