As per the most recent information, the Staff’ Provident Fund Group (EPFO) has lately launched a system streamlining the method of transferring provident fund (EPF) balances when transitioning between jobs.
Earlier, whenever you (EPF member) are becoming a member of a brand new employer, and when you have contributed to EPF in your earlier employment then it’s a must to submit Kind No. 13, for PF switch from previous EPF account to you new EPF account via on-line or offline strategies.
In a while, EPF had launched, new Kind 11 which is a one web page declaration kind and must be submitted by the worker to his/her new employer, for the automated switch of EPF steadiness.
Associated article : New EPF Composite Declaration Kind-11 for computerized EPF Switch on change of Job!
Nevertheless, with the brand new computerized EPF Account switch system, the PF steadiness might be credited to the your new employer’s account with none motion required from you. There is no such thing as a must submit an internet switch request and even submission of Kind 11 can also be not required.
Computerized EPF Account Switch : Course of & Conditions
Beneath are the eligibility circumstances for the automated switch of EPF steadiness on job change;
- The PF Computerized switch facility is obtainable to members whose EPF account(s) are underneath the purview of the EPFO (Staff Provident Fund Group) solely.
- The automated switch facility will not be accessible for the exempted Provident Trusts.
Your Group might be an Exempted institution or Unexempted one. An organization having its personal Belief for provident fund is exempted from getting it self registered with the Provident Fund Authorities. So, in case your employer has their very own Belief then your month-to-month contributions get deposited with the Belief and never with the EPFO. (Associated Article : Easy methods to verify if my Employer is depositing EPF quantity with EPFO / Belief?)
- Your UAN needs to be in ACTIVE standing, and the cellular quantity related to it needs to be operational.
- Your Aadhaar quantity should have been seeded and verified towards the UAN (Common Account Quantity) at your earlier place of employment.
- The UAN and Aadhaar numbers offered by you together with your new employer ought to match with the main points accessible within the EPFO’s database.
- Your earlier employment particulars corresponding to date of becoming a member of, date of exit, and motive for exit needs to be accessible from the earlier employer.
- If the above conditions are met, the automated PF steadiness switch will get triggered when the primary month’s PF contribution is acquired out of your new employer.
- As soon as the automated switch is initiated, you’ll obtain SMS and electronic mail notification(s).
- On profitable switch of earlier EPF steadiness to your new EPF account, a credit score entry will get mirrored in your EPF passbook.
- Kindly be aware that your EPS (Staff Pension Scheme) fund wont get transferred on change of employment.
In case you face any problem throughout this switch course of, corresponding to mismatched particulars or pending Aadhaar seeding, you possibly can submit Kind 11 (or) provoke an internet EPF switch via UAN Portal.
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(Publish first revealed on : 15-Apr-2024)
