EPF account will transfer automatically after job change. Oh wow! Now EPF account will transfer automatically after job change, know how

EPF account will transfer automatically after job change. Oh wow! Now EPF account will transfer automatically after job change, know how
EPF account will transfer automatically after job change. Oh wow! Now EPF account will transfer automatically after job change, know how

EPFO Members Good News: Those working in the private sector are constantly changing jobs. If you have left your old job and joined a new job, it is very important to do things about PF account.

If you don’t do this, you may suffer a huge loss. But, many people do not pay attention to it.

There are fifty kinds of documents when we change jobs. There is always something left to do. One such major headache after switching jobs is transferring your EPF account, especially when it comes to paper transactions between two companies.

Many EPF accounts are created by switching jobs, merging which is a lengthy process. But soon you will get rid of all this trouble.

The Employees’ Provident Fund Organization (EPFO), which manages the Employees’ Provident Fund (EPFO), is working on an employee-friendly system that will soon automate the EPF Account Merger and transfer of all employees’ EPF accounts.

Good news for EPFO ​​members – What will be the new change?

EPFO has been approved by C-DAC to develop a centralized IT-enabled system. All accounts of EPFO ​​members will be automatically merged under this system.

In case of job change, they do not need to complete the transfer process on their own. I mean, now you have changed your job.

So you don’t want to stress that you want to transfer your EPF account to a new institution. All PF accounts of EPFO ​​members will be merged and de-duplicated through this centralized system so that they do not have to worry about the transfer process.

What are the rules now?

As per the current rules, if a salaried person changes job, a new EPF account is opened with the new organization. The UAN number remains the same, but the institution opens a new EPF account.

In such a case, he has to transfer his old EPF account from the old organization to the new organization as the PF was deducted from his salary in the old office. So the amount deposited in PF has to be transferred to his new account.

This work is done by EPFO ​​members. The service must be done online on the portal. If the member’s UN number is linked to his Aadhaar, this process is done online.

But if the UN is not linked to Aadhaar, he will have to submit a form to his new company to transfer money from the old account.

The article is in Marathi

Tags: EPF account transfer automatically job change wow EPF account transfer automatically job change

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