Withdrawal of PF Amount from Previous Employer: A Step-by-Step Guide

When transitioning between employers, you might need to withdraw the provident fund (PF) amount from your previous employer. This is quite common when the UANs (Unique Account Number) of the two employers are separate and maintained individually. In this guide, we'll explore how to go about withdrawing the PF amount from your previous employer through online form 19 and form 10C.

How to Withdraw PF Amount When Employers are Separate

If the UANs of your current and previous employer are separate, you need to follow the same procedures as you would for a new joining. While transitioning to a new employer, it might have been beneficial to inform the new organization about your existing EPF (Employer Provident Fund) number. However, this is not a mandatory requirement and some may have overlooked this step.

Disadvantages of Disjoining PF Accounts

No Employer Contribution: If you withdraw your old provident fund account before completing 5 years of service, you will receive only your own contributions, not the employer's contributions. This could result in a lower withdrawal amount. No Seniority: You won't have the seniority of your previous job in your new employer's records, which might affect future benefits such as a higher pension.

On the other hand, if you clubbed your old PF with your new one, you would benefit from the additional accumulated funds and potentially qualify for a pension if you have served for more than 10 years.

Requirements for PF Withdrawal

Online Process

You can initiate the PF withdrawal process either online or through a composite claim form. The process includes the following steps:

Provide a copy of your Aadhaar number. Submit a copy of your bank passbook. Enclose your PAN (Permanent Account Number) details.

Procedure for Withdrawal

If you have already withdrawn the current PF amount and it is less than 10 years, you can use the same online forms (19 and 10C) to withdraw the PF amount from your previous account. Simply follow these steps to proceed:

Log into the PF portal and select the relevant option for withdrawal. Fill out the necessary details as required by the online form 19 and form 10C. Submit the forms to your old employer, who will then forward them to the PF office for verification. Once approved, your request for withdrawal will be processed.

Conclusion

While it is beneficial to club your PF accounts for long-term benefits, sometimes it is unavoidable due to organizational policies or oversight. By following the correct process and guidelines, you can successfully withdraw the PF amount from your previous employer without any issues.