EPF members often ask us that how to close an EPF account which they no longer use? In this post we’ll tell you the right way that you can use when it comes to closing a PF account. However, before we move ahead and discuss that, you should understand few important points such as:
An EPF account is not like a usual bank account that you can open or close anytime. There are two particular ways under which an EPF account can be closed. These ways are:
- An EPF account can be closed when the account holder is dead
- The account can be closed when the employee has left the job at the current organization and has joined a new job at some other establishment.
The reason why closing a PF account is difficult these days is because of the use of UAN for all the employees by EPFO. UAN is universal account number under which all the PF accounts or member ids of an employee are linked. With UAN it has become difficult because it is made mandatory by EPFO for all establishments (employers) to ask the UAN from previous employers so that the new PF number can be linked with it at the new employer.