EPFO Rules Change: After changing jobs, employees often have to make rounds of offices to transfer their PF funds. This causes difficulties for employees. But now this will no longer be the case. We are going to provide a major relief to 8 crore employees. Upon changing jobs, the EPF amount will be automatically transferred to the new account, eliminating any problems.

Under the old rules, this was dependent on employer approval and manual claims, but this is no longer the case. Now, this transfer will be done directly by the EPFO ​​through an automated system. This will free employees from the lengthy process and the hassle of running around HR.

PF Transfer Without Employer

In simple terms, an employee’s PF funds will be transferred without the employer’s approval. Previously, the employee needed to fill out Form 13 and get verification from the previous employer. This process used to take several days because obtaining the employer’s approval was also a delay. However, the EPFO ​​has now completely simplified and digitalised this process.

Now, EPFO ​​has simplified this process. When an employee joins a new job and provides the joining date, the system automatically initiates the transfer process. This means that the employee no longer needs to file a separate claim or seek approval from the employer.

Digital System Helps

EPFO has simplified the process of transferring PF funds. Now, it has been completely digitised and auto-verified.

The transfer process includes real-time data exchange between the employer and EPFO ​​systems through Aadhaar-based e-signatures, KYC auto-verification, and API integration. Previously, transfers took 30 to 45 days. Under the new rules, they are now completed within 7 to 10 days, sometimes even faster.

Will interest be accrued upon transfer?

Under the old rules, interest payments used to take months to be transferred. This would have prevented interest payments from being received. However, this will no longer be the case. The EPFO ​​has now clarified that interest payments will continue until the transfer is complete, regardless of the processing time.