Also question is, how many days it will take to transfer PF from one account to another?
20 days
Beside above, how many days will it take to clear PF amount? When an employee applies for EPF claim online then it takes 5-30 days to get the PF amount into the bank account. But the time depends upon how fast the EPFO office clears the claim. Some EPFO offices clear the claim in around 5 days while some take more days.
Similarly, what if I do not transfer my PF amount for long time?
Therefore, if the period of employment in the previous organisation is less than 5 years and you do not transfer the account to the new employer, then the amount received from the previous employer including the interest earned will become taxable on withdrawal.
Is PF transfer mandatory?
At present, the subscribers of the Employees Provident Fund Organisation (EPFO) are required to file transfer of EPF claims on changing jobs despite having universal account number (UAN). The EPFO gets about eight lakh EPF transfer claims every year.
