People working in the private sector often change jobs. They leave one company and join another. This has a direct effect on their EPF account. They need to transfer their EPF money from the old company to the new one. There is a fixed process for this.
The problem happens when the company handles the EPF money through its own PF trust. Many big companies do this. They manage the EPF contributions of their employees by themselves, but they send the pension part (EPS) to the EPFO.
A Mistake in the Joining Date Can Be a Big Problem
In one case, the company, by mistake, did not upload the original joining date of the employee. Because of this, the EPFO system took the date of PF transfer as the joining date. As a result, the employee lost 15 years of service record.
This small mistake created many problems. The employee lost his pension benefits. His PF transfer and withdrawal claim were also affected. He was no longer eligible for EPS pension because at least 10 years of service is required to get it.
Such mistakes can lead to big problems. So, people should be very careful while transferring PF, especially in companies that have exempted trusts.
Wrong Date of Birth Can Also Create Problems
If your date of birth is wrong, it can also cause trouble. The pension benefit may stop. The PF transfer or withdrawal request may get rejected. To avoid this, always make sure your date of birth is correct. If it is wrong, then you should get it corrected.
How to Fix Wrong Details in EPF
EPFO has now made it easier to correct the date of birth. Employees should check all their details on the EPFO website. If any detail is wrong, they should start the correction process as soon as possible. If personal information like date of birth or joining date is wrong, then it can cause a big problem at the time of claim. So, it is very important to check your EPF passbook. Also check your date of birth, pension status, and how much money is added every month.