PF Account Merge: Those who work in the private sector, they are most worried about what will be their source of income after retirement. In such a situation, people also make many types of investments, which are useful in their old age. Apart from this, PF of employed people is also deducted every month, this provident fund comes in handy in case of emergency or in old age. Every month the company also deposits its share in your PF account. Many people have more than one PF account, that is, they do not link the old account while joining another company. In such a situation, today we are telling you its method.
Now the account will be merged automatically
In fact, under the new rules, there will be no need to link any PF account after April 1, 2024. Whenever someone joins another job, his old PF account will automatically be linked to the new one, or rather, the same account will continue to operate. Overall, the hassle of linking PF account is over.
Failure to merge may cause problems
If your EPF account is not merged then you may suffer many types of losses, this can trouble you in tax saving. Apart from this, you are not able to see your entire PF balance at one place and there may be problem in withdrawal also. Because withdrawals are made only on the tenure of the PF account, in such a situation, some accounts are for two years and some for only one year. Due to which you are not able to withdraw money in emergency.
Link PF accounts like this
Now let us tell you how you can merge old accounts together. For this you will have to go to the official website of EPFO. After this click on the option of One Employee One PF Account. Here a form will open, in which you will have to enter UAN number and mobile number. Then after entering the OTP, the old PF account will be visible, after this fill the PF account number and accept the declaration. Your account will be merged a few days after submission.
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