As per the newest information, the Workers’ Provident Fund Group (EPFO) has lately 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you probably have contributed to EPF in your earlier employment then you must submit Type No. 13, for PF switch from outdated EPF account to you new EPF account by means of on-line or offline strategies.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 stability.
Associated article : New EPF Composite Declaration Type-11 for computerized EPF Switch on change of Job!
Nonetheless, with the brand new computerized EPF Account switch system, the PF stability will be credited to the your new employer’s account with none motion required from you. There is no such thing as a have to submit a web-based switch request and even submission of Type 11 can also be not required.
Automated EPF Account Switch : Course of & Stipulations
Under are the eligibility circumstances for the automated switch of EPF stability on job change;
- The PF Automated switch facility is on the market to members whose EPF account(s) are beneath the purview of the EPFO (Workers Provident Fund Group) solely.
- The automated switch facility isn’t obtainable 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 : Methods to verify 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 obtainable within the EPFO’s database.
- Your earlier employment particulars corresponding to date of becoming a member of, date of exit, and purpose for exit ought to be obtainable from the earlier employer.
- If the above stipulations are met, the automated PF stability 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 e mail notification(s).
- On profitable switch of earlier EPF stability 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 challenge throughout this switch course of, corresponding to mismatched particulars or pending Aadhaar seeding, you may submit Type 11 (or) provoke a web-based EPF switch by means of UAN Portal.
Associated articles :
(Publish first printed on : 15-Apr-2024)
