Switching jobs is a common practice among employees looking for better opportunities, higher pay, and growth. When you start a new job at another organisation, a new PF account is created under the same UAN. However, the funds from your previous PF accounts won’t be transferred automatically to the new account. You have to manually initiate the process. Thus, if you have changed jobs recently, you might be wondering how to merge two EPF accounts.
Why should you merge your PF accounts?
If you have changed jobs and hold multiple Provident Fund (PF) accounts linked to the same Universal Account Number (UAN), merging them can simplify account management and ensure your retirement savings remain consolidated. A single PF account makes it easier to track contributions, maintain accurate service records, and process future claims without unnecessary delays. It also helps avoid discrepancies that may arise from maintaining multiple inactive PF accounts.
Benefits of merging your PF accounts include:
- Easy account management: View and manage all PF contributions under a single account.
- Continuous service record: Maintains uninterrupted service history for retirement and pension benefits.
- Simplified claim process: Makes PF withdrawals and transfers faster and more convenient.
- Accurate interest calculation: Ensures eligible interest is credited correctly on the consolidated balance.
- Reduced administrative issues: Minimises errors, duplicate records, and complications arising from multiple PF accounts.
