EPFO: There is good news for EPFO members. The Employees’ Provident Fund Organization (EPFO) has launched a revised Form 13 software, simplifying the process of transfer of PF account for its members when changing jobs. With this change, there will be no need to take approval from the employer in most cases for transfer of PF account.

EPFO launches Form 13 revised form software

The Ministry of Labor and Employment, while sharing the information about this latest initiative in the series of reforms being done in EPF, said on Friday that till now two EPF offices were involved in the transfer of the amount deposited in the Provident Fund account. The first was from where the PF amount had to be transferred and the second was where this amount had to be finally deposited.

In order to simplify the process, EPFO ​​has now introduced a revised Form 13 software functionality which has removed the requirement of approval of all transfer claims at the PF office where the PF account is to be transferred. This clearly means that now with the approval of the transfer of the account from the previous PF office, the previous PF account will automatically get transferred to the current Provident Fund account of the employee.

EPFO has taken special care that the details of tax-free and non-taxable amount of the total amount deposited in PF is also sent along with the account transfer so that TDS on employee’s taxable PF interest can be accurately calculated.

According to the Ministry of Labor, this change will benefit more than 1.25 crore members of EPF. According to the data of the ministry, every year an amount of about 90,000 crore rupees is transferred to the EPF account and this change will speed up this process as compared to before.

Bulk Generation of UAN without Aadhaar seeding by employersIn order to ensure prompt credit of funds into EPFO ​​members’ accounts, a facility for generation of UAN based on member ID and other available member information has also been introduced. For this purpose, a software functionality has been made available to field offices through FO interface which will enable bulk generation of UAN in such cases.

Also, the EPFO ​​application will be able to track past savings without the need for Aadhaar. However, as a risk mitigation measure for the safety of funds deposited in PF, all such UANs will be kept in a static state and will be activated only after Aadhaar is linked.