EPFO Balance- Everything is done through online system. But, the case gets stuck when someone’s previous provident fund is linked to a private trust.
EPFO Balance- Jobkeepers know how important a Provident Fund is to them. This is the reason that whenever money gets stuck somewhere, anxiety starts increasing. PF money is also transferred after changing jobs from one company to another. Everything is done through the online system. But, the case gets stuck when someone’s previous provident fund is linked to a private trust (PPFT). There are many challenges in transferring it to the new provident fund account ie EPFO. The first challenge is how to transfer money. Let us understand what is the whole process of this…
What is a private trust?
Some companies have formed their own PF Trust to manage the contribution of employees. Able to do so, these companies get special exemption from EPFO. There are 1,375 companies operating trusts in India that include large companies like TCS, Wipro, Hindustan Unilever (HUL), Reliance and Bharat Heavy Electricals like Public Sector Organizations (BHEL). It is estimated that there are 50 lakh members (employees) of such trusts. Private PF trusts operate according to the same rules as EPFO does. Like EPF, 12% of an employee’s salary is deposited in a PF trust and the same amount is deposited in the company’s employee’s PF account.
How to Transfer from Private Trust to EPF
According to Bhanu Pratap Sharma, Retired Enforcement Officer of EPFO, if your old company had a private trust while the new company has PF money deposited in the EFPO, then you need to transfer Form-13 will fill. In this, the information of the old employer will have to be filled, whatever is asked. Also, the information of the existing employer will have to be entered in the form. This form will have to be attested by the old employer.
What information will be needed?
Information of old and new employees.
Your PF account number in the old company.
All information including the address of both the employees.
Bank account information.
Keep this also in mind
Although you are transferring money to PF account, but you will also have to fill your bank account information in the form. Actually, they are used for your verification. Even if it is not necessary to fill the mobile number in the form, but do fill it so that you can talk to you in case of any kind of problem. Also, send a copy of the Form-13 you have filled to your old employer.
How to view PF trust balance
You get a UAN, you cannot view your EPF passbook (EPFO balance ) or submit a request for online withdrawal in case of other PF trusts. You have to either contact your company’s HR or see the contribution on your salary slip.
I received a call today from one Puja Singh. EPFO New Delhi telephone number 7065735952 telling me that some amount is there in my account under file no. ALT550896.CGI/425960. She wanted to know in which bank account I would like the money to be transferred.
Is this real or fraud?