PF account transfer process on job change simplified, says EPFO
Retirement fund body EPFO has simplified the process of transferring PF accounts on job change by removing the requirement of approval from an employer in the majority of the cases, an official statement said on Friday.
Till now, the transfer of Provident Fund (PF) accumulations involved two Employees’ Provident Fund (EPF) offices— the Source Office, from which the PF amount was transferred, and the Destination Office, where the amount is finally credited, the Ministry of Labour & Employment said.
Now, with an aim to further simplify the process, EPFO has removed the requirement of approval of all transfer claims at the Destination Office by launching a revamped form 13 software functionality.
Henceforth, once a transfer claim is approved at the transferor (Source) office, the previous account will automatically transferred to the member’s present account at the transferee (Destination) office instantly.
Also, a facility for the bulk generation of UANs based on Member ID has been introduced to ensure prompt crediting of funds.
