How to Check Provident Fund Balance and Transfer Money?

Provident Funds, sometimes known as PF, are a type of retirement savings plan initiate by the government. In India, An employee needs to know how much provident fund balance they have at the beginning of a new fiscal year to make an inform financial decision. 

The employee pays a fixed contribution of 12 percent of the basic salary towards the provident fund account every month, and the employer contributes the same amount each month.

There are various ways to check the balance of your provident fund account without having to go to the PF office or ask your employer. the Provident Fund is one of the most important retirement savings schemes similar to the various others monthly saving scheme   

Listed below are the five ways to check provident fund balance

By visiting the Website of PFO

Under the section for employees on the PFO website, click the ‘Member Passbook’ button. View your provident fund passbook using your universal account number and password.

With the help of the opening balance and closing balance, you can see the distribution of contributions between employee and employer. It also shows the interest earn and the amount transfer from the provident fund.

By logging in to Unified Portal

The provident fund balance can also be view by logging on to the Unified Portal with your UAN and password and then opening your PF passbook to view the balance of your provident fund. It is also possible to view the contributions to the pension fund for different fiscal years.

By SMS

The SMS service will allow you to check your provident fund balance on your mobile phone. It is useful to send an SMS to find out the balance of your PF without having to use your UAN. If you send the SMS, you will receive a confirmation of the last PF contribution and the balance details for the member regarding your KYC details as soon as it has been sent.

By Missed call 

For checking your PF balance, you will not even be require to have a UAN, and you can do so using your mobile phone. Typically, you can accomplish this with the help of the Missed Call service that the PFO provides.

As soon as the phone rings two times, the call will be disconnect, and the user will receive a message which indicates the PF balance. The most important thing to note is that this service is free and can also be use from a normal smartphone.

By UMANG app

The Unified Mobile App for New-age Governance (UMANG) app can provide PF details like provident fund balances, the status of claims, and the Know Your Customer status, among others, to assist with the process.

Ways to transfer money in provident fund 

By Manual Transfers

The members who have not been given a UAN and have not been digitally verify by their previous employer will be require to fill out Form No.13 and submit it manually.

The provident fund balance can also be view by logging on to the Unified Portal with your UAN and password and then opening your PF passbook to view the balance of your provident fund. It is also possible to view the contributions to the pension fund for different fiscal years.

By Auto Transfer

PF Form 11 is a composite form that acts as a self-declaration by an employee about his membership status and whether or not he has been a member of PF or PS in a previous job. Using the UAN and Aadhar information in this form, the provident fund balance will be automatically transfer to the new account link earlier.

By Online Transfer

• Using the provident fund official website, you can register on the PF member portal and create a user ID base on your UAN.
• For an online transfer request, once you have log in, select the website services tab and select ‘Transfer Request’ to generate it.
• If the employer completes the verification of the details, they can digitally forward it to a PFO office, from which the claim can proceed base on the information provide.
• The status of the transfer request can be monitor using the ‘Track Claim Status’ menu locate under the Online Services tab.

Final Thoughts

Provident Fund primary objective is to guarantee the investor’s financial well-being once he or she has reach retirement age. One can start a provident fund account on their own, known as a Public Provident Fund (PPF)

An employer can do it for them, known as an Employee Provident Fund (EPF), in which case both the employer and the employee contribute a portion of their income.

Several apps make it possible for employees to monitor their retirement savings accounts without the assistance of their employer. After the maturity term has pass, is it permissible to withdraw money from your provident fund account.