EPFO Big Update: The Employees’ Provident Fund Organisation (EPFO) has taken a historic decision to make the PF transfer process even simpler. From now on, if there is a service overlap between two employers of a member, the PF transfer claim will not be rejected on this basis. This is a big relief for lakhs of EPFO members, who earlier faced delays and trouble in accessing their funds due to such technical problems.
PF claim will not be rejected on service overlap
Till now, when an employee changed his job, he had to get the PF balance transferred from his old employer’s EPF account to the new employer’s account. But, many times it used to happen that there was a conflict in the service period of the old and the new employer.
This means that the record of working in two different companies on the same date was visible in the records of EPFO. Due to this technical flaw, the regional offices often rejected the transfer claim directly, causing unnecessary running around and mental trouble to the employees.
But, now EPFO has given a permanent solution to this problem. EPFO has recently issued instructions that transfer claims will not be rejected by regional offices due to a conflict in service period. Now the officer will have to complete this process. Only in those cases where genuine clarification is required regarding service overlap, the claim will be settled only after taking clarification. This step will promote transparency and employee-friendly policies.
Accountability of officers fixed
Under this new rule, EPFO has also given the responsibility to the transfer offices to ensure that all the information of the employee is checked correctly so that there is no error in the transfer process. This step will ensure that no valid claim is rejected due to such technical mistakes in future. Officers will now have to be more vigilant and responsible, so that the process of PF transfer can be completed seamlessly.
EPFO members will get big relief
This change will give great relief to lakhs of EPFO members whose PF transfer claims were repeatedly rejected due to a conflict in the service period (service overlap). Earlier, due to such problems, employees had to face unnecessary delays and hassles in accessing their funds.
Now the new rule will ensure that claims are not rejected due to such technical reasons. This is a progressive move from the EPFO which will simplify financial transactions for members and help them receive their provident fund benefits on time.
This change will increase the trust of employees on their PF funds and help them make their hard-earned money safe and accessible.