As per the most recent information, the Workers’ Provident Fund Group (EPFO) has just lately launched a system streamlining the method of transferring provident fund (EPF) balances when transitioning between jobs.
Earlier, if you (EPF member) are becoming a member of a brand new employer, and in case you have contributed to EPF in your earlier employment then it’s important to submit Type No. 13, for PF switch from outdated EPF account to you new EPF account by on-line or offline strategies.
Afterward, EPF had launched, new Type 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 Type-11 for computerized EPF Switch on change of Job!
Nevertheless, with the brand new computerized EPF Account switch system, the PF steadiness will be credited to the your new employer’s account with none motion required from you. There isn’t a have to submit an internet switch request and even submission of Type 11 can also be not required.
Computerized EPF Account Switch : Course of & Stipulations
Under are the eligibility circumstances 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 below the purview of the EPFO (Workers Provident Fund Group) solely.
- The automated switch facility isn’t accessible for the exempted Provident Trusts.
Your Group will 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 : Tips on how to test if my Employer is depositing EPF quantity with EPFO / Belief?)
- Your UAN must be in ACTIVE standing, and the cellular quantity related to it must be operational.
- Your Aadhaar quantity will need to 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 similar to date of becoming a member of, date of exit, and motive for exit must 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 be aware that your EPS (Workers Pension Scheme) fund wont get transferred on change of employment.
In case you face any problem throughout this switch course of, similar to mismatched particulars or pending Aadhaar seeding, you’ll be able to submit Type 11 (or) provoke an internet EPF switch by UAN Portal.
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(Submit first printed on : 15-Apr-2024)
