The Employees’ Provident Fund Organization (EPFO) has recently decided to make the process of PF account transfer even simpler for its EPFO members. For this, EPFO has made important changes in Form 13. These changes are extremely beneficial for employees changing jobs, because now the process of PF transfer will be faster than ever. Now PF transfer will be quick. This news has brought a wave of happiness to all those employees who were troubled by the complex process of PF transfer while changing jobs.
PF transfer will be automatic
UAN will be generated even without Aadhaar
EPFO has also provided the facility to generate UAN (Universal Account Number-UAN) without Aadhaar in certain cases. This facility is for those members who are associated with exempted PF trusts or in whose cases recovery or quasi-judicial proceedings are going on. However, to ensure security, such UANs will remain inactive until they are linked to Aadhaar. This move will provide relief to those members who were facing difficulty in obtaining UAN due to special circumstances.
Form 13 becomes smart
EPFO has upgraded Form 13 and made it a powerhouse of information for members. Now you will not have to go through different portals or documents for every important information related to your PF.
- All your Know Your Customer (KYC) details will now be available on a single screen.
- It has become even easier to know the total amount deposited in your PF account.
- A detailed record of every contribution from you and your employer will now be available in one place.
- The complete history of PF transfers made earlier can now be easily viewed.
- The complete details of all the PF withdrawals made by you will now be at your fingertips.
- The interest earned on your PF account, including the taxable and non-taxable portion, will now be visible.
These changes in EPFO will benefit crores of members
These changes in EPFO are expected to benefit more than 1.25 crore members. The transfer of PF amount of about ₹ 90,000 crore every year will now be possible even faster. If you are changing jobs or planning to transfer PF, take full advantage of these new rules and facilities of EPFO and transfer your PF account easily.
