Tranfer PF account or withdraw money when switching the job.

Hi I am switching my job after a 1.4 years. Should i transfer my PF account from my current organization to new one or should i withdraw money from PF account. I have heard from friends that switching the PF account sometimes takes a very long time(maybe 2-3 years), in that case isn't it better to withdraw money from current PF account and start afresh with the new organization?

asked Nov 16 '11 at 16:28 by xenon_15 1233


If you withdraw it before five years of EPF account operation (including all jobs), amount would be taxable and you would need to pay tax on withdrawal.

Moreover, EPF department would ask reason for withdrawing in which you will have to mention falsely that you are not doing any job anymore.

It would be better to transfer amount to new company's EPF account. Earlier transfer used to take longer and sometimes not even done. There was no tracking earlier.

But now, EPF transfer can be tracked and you can complain if its not done within 2-3 months. So it would be better to transfer it now.

answered Nov 17 '11 at 00:17 by pankaj 5.2k320

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"But now, EPF transfer can be tracked and you can complain if its not done within 2-3 months. So it would be better to transfer it now." How can we track our EPF transfer?
(Nov 17 '11 at 12:38) Sameer Prajapati
It can be checked on this page: http://epfindia.com/ClaimStatus_New.html Same page is there for EPF withdrawal and transfer.
(Nov 18 '11 at 12:32) pankaj

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Asked: Nov 16 '11 at 16:28

Seen: 2,747 times

Last updated: Nov 18 '11 at 12:32