Computerized EPF Account Transfer : Most recent Process & Conditions

As per the most current information, the Employees’ Provident Fund Organization (EPFO) has recently released a procedure streamlining the system of transferring provident fund (EPF) balances when transitioning concerning work opportunities.Earlier, when you (EPF member) are signing up for a new employer, and if you have contributed to EPF in your preceding work then you have to post Type No. 13, for PF transfer from aged EPF account to you new EPF account by online or offline techniques.Afterwards on, EPF had launched, new Sort 11 which is a a single web site declaration kind and requires to be submitted by the staff to his/her new employer, for the automatic transfer of EPF stability.Connected post : New EPF Composite Declaration Variety-11 for automatic EPF Transfer on adjust of Work!Nonetheless, with the new automatic EPF Account transfer procedure, the PF stability can be credited to the your new employer’s account with out any motion necessary from you. There is no will need to post an on the net transfer ask for and even submission of Form 11 is also not expected.Automated EPF Account Transfer : Method & PrerequisitesBelow are the eligibility circumstances for the automated transfer of EPF balance on career changeThe PF Automatic transfer facility is out there to associates whose EPF account(s) are less than the purview of the EPFO (Staff Provident Fund Organization) only.The automated transfer facility is not out there for the exempted Provident Trusts.Your Corporation can be an Exempted establishment or Unexempted a single. A enterprise getting its own Rely on for provident fund is exempted from having it self registered with the Provident Fund Authorities. So, if your employer has their very own Have faith in then your month to month contributions get deposited with the Rely on and not with the EPFO. (Connected Article : How to check out if my Employer is depositing EPF total with EPFO / Rely on?)Your UAN need to be in Lively position, and the cell quantity affiliated with it should really be operational.Your Aadhaar amount must have been seeded and verified from the UAN (Common Account Amount) at your earlier location of employment.The UAN and Aadhaar figures presented by you with your new employer ought to match with the facts accessible in the EPFO’s databases.Your former work facts this kind of as day of joining, date of exit, and cause for exit ought to be accessible from the prior employer.If the earlier mentioned conditions are achieved, the computerized PF equilibrium transfer gets triggered when the to start with month’s PF contribution is gained from your new employer.When the automatic transfer is initiated, you will receive SMS and electronic mail notification(s).On productive transfer of former EPF equilibrium to your new EPF account, a credit entry will get reflected in your EPF passbook.Kindly be aware that your EPS (Personnel Pension Plan) fund wont get transferred on adjust of employment.In situation you deal with any concern in the course of this transfer process, this sort of as mismatched specifics or pending Aadhaar seeding, you can submit Form 11 (or) initiate an on line EPF transfer via UAN Portal.Connected article content :(Submit initial revealed on : 15-Apr-2024)

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