Many individuals switch job for better opportunities with better pay but somehow neglect the contribution made towards their retirement fund.
And it is not suggested to maintain multiple accounts as the EPFO has been advising members to link all their PF account numbers with the UAN and to also seed KYC data against their UAN number.
The consolidation of accounts will enable continuance of lifelong EPF membership, and allow PF, pension and insurance benefits on combined service.
EPF member should provide all his earlier EPF accounts along with his UAN linked account, Member ID and registered Mobile Number.
Reasons for employees having to merge two EPF accounts with UAN
Can an Employee have multiple or duplicate UANs? According to the EPF rules, an employee cannot have two EPF accounts. Sometimes an employee has two separate UANs. An employee could have two UANs in some of the following cases:
1. When the employee refused to share his or her UAN with his or her new company the employee will end up in two UANs. This has happened in many cases.Because of issues with the old company some employees may have chosen to get a new UAN rather than submit the details of their UAN with their previous company.
2. When you leave your company, your employer has to furnish the date of exit details in the ECR. ECR refers to Electronic Challan Cum Return. If the previous company you worked with has not mentioned the exit date on your previous PF account and UAN, the new company begins the procedure of getting the employee a UAN.
What to do in case you have two EPF accounts?
If you have two EPF accounts you have to immediately report the case to your current employer or write it to the EPFO regarding the issue. The employee can mail the issue to the following ID email@example.com. While mailing you have to state both - your previous and current UAN.
After the EPFO verifies both accounts, it will block the old UAN and keep the current one active. When the UAN is blocked, then you has to raise a claim to the EPFO to transfer the funds from the previous account to the active UAN.
Simple Steps to consolidate or merge multiple PF accounts
1. Visit EPF Portal
2. Select Employees from the dropdown
3. Go to services and click One employee and One Epf accounts
4. Enter your registered mobile number
5. Enter 12 digit UAN
6. Company ID which is linked to UAN
7. Click generate OTP
8. Once you validate the OTP
9. In the new page enter all the previous EPF accounts. One can add around 10 previous EPF accounts.
The process may take few days as it will be directed to regional respective EPFO office for further verification. The EPFO offices may contact you in case of any issue.
With the enactment of Aadhaar Act, 2016 (26th March 2016), EPFO is now seeking to make Aadhaar, the primary identifier. Members having Aadhaar seeded UAN, saves the inconvenience of claims forms attestation by the employers.
How An Aadhar Card Number Benefits Through UAN?
You may now have understood why it is necessary to merge two EPF accounts into one EPF account. While doing so, it is also important to understand that you must link your Aadhar Card. One is that the settlement of dues become easy, when you do so. Secondly, there is more transparency.
If you have not submitted your Aadhaar card as yet, you should do so at the earliest.
How To Transfer EPF Account Online?
Individuals can even transfer EPF account online as the transfer process is transparent, efficient and comfortable. A member has an option to submit the claim either through his present employer or previous employer.