As per the newest information, the Staff’ Provident Fund Group (EPFO) has just lately launched a system streamlining the method of transferring provident fund (EPF) balances when transitioning between jobs.
Earlier, once you (EPF member) are becoming a member of a brand new employer, and if in case you have contributed to EPF in your earlier employment then it’s important to submit Kind No. 13, for PF switch from previous EPF account to you new EPF account by means of on-line or offline strategies.
In a while, EPF had launched, new Kind 11 which is a one web page declaration type 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 may be credited to the your new employer’s account with none motion required from you. There is no such thing as a must submit a web-based switch request and even submission of Kind 11 can also be not required.
Computerized EPF Account Switch : Course of & Stipulations
Under are the eligibility situations for the automated switch of EPF steadiness on job change;
- The PF Computerized switch facility is on the market to members whose EPF account(s) are beneath the purview of the EPFO (Staff Provident Fund Group) solely.
- The automated switch facility is just not accessible for the exempted Provident Trusts.
Your Group may 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 : The right way to examine if my Employer is depositing EPF quantity with EPFO / Belief?)
- Your UAN ought to be in ACTIVE standing, and the cellular quantity related to it ought to be operational.
- Your Aadhaar quantity should have been seeded and verified in opposition to the UAN (Common Account Quantity) at your earlier place of employment.
- The UAN and Aadhaar numbers supplied by you along with your new employer ought to match with the small print accessible within the EPFO’s database.
- Your earlier employment particulars corresponding to date of becoming a member of, date of exit, and cause for exit ought to be accessible from the earlier employer.
- If the above stipulations are met, the automated PF steadiness switch will get triggered when the primary month’s PF contribution is obtained out of your new employer.
- As soon as the automated switch is initiated, you’ll obtain SMS and e-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 observe that your EPS (Staff Pension Scheme) fund wont get transferred on change of employment.
In case you face any challenge throughout this switch course of, corresponding to mismatched particulars or pending Aadhaar seeding, you may submit Kind 11 (or) provoke a web-based EPF switch by means of UAN Portal.
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(Submit first revealed on : 15-Apr-2024)
