As per the most recent information, the Workers’ Provident Fund Group (EPFO) has not too long ago launched a system streamlining the method of transferring provident fund (EPF) balances when transitioning between jobs.
Earlier, while you (EPF member) are becoming a member of a brand new employer, and you probably have contributed to EPF in your earlier employment then it’s a must to submit Type 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 Type 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 Type-11 for automated EPF Switch on change of Job!
Nonetheless, with the brand new automated 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 Type 11 can be not required.
Computerized EPF Account Switch : Course of & Conditions
Under are the eligibility situations for the automated switch of EPF steadiness on job change;
- The PF Computerized switch facility is out there to members whose EPF account(s) are underneath the purview of the EPFO (Workers Provident Fund Group) solely.
- The automated switch facility isn’t 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 : Tips on how 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 will need to 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 together with your new employer ought to match with the main points accessible within the EPFO’s database.
- Your earlier employment particulars equivalent 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 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 observe that your EPS (Workers Pension Scheme) fund wont get transferred on change of employment.
In case you face any challenge throughout this switch course of, equivalent to mismatched particulars or pending Aadhaar seeding, you possibly can submit Type 11 (or) provoke an internet EPF switch by means of UAN Portal.
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(Submit first printed on : 15-Apr-2024)
