Changing job? No need to withdraw PF

PUNE: Every year, lakhs of employees change their jobs. Switching jobs is good, but withdrawing or transferring PF amount to the new PF account is a long process. Now, the Employees’ Provident Fund Organisation (EPFO) has found a solution to it. Subscribers to PF will not be required to file employee provident fund (EPF) transfer claims on changing jobs from the next financial year i.e. 2019-20. According to the EPFO, Pune region officials  PF will be transferred automatically, once the employee joins a new organisation. 

“After changing jobs, one need not apply for PF transfer. One will not have to be worried about the PF transfer status. The EPFO had circulated a note to all its zonal and regional offices to initiate an auto transfer process for PF claims. The EPFO had also laid down a revised procedure for auto transfer of PF accounts that will ensure PF transfer online through the Unified Portal,” said Arun Kumar, Regional Commissioner 1 of Pune.

“It is important that the new employee fills up the Composite Declaration Form (F-11) and enters the details, including the Universal Account Number (UAN) and the previous PF number. Once the new employer uploads this data on to the employer’s portal and the first month’s contribution is put into the employees’ PF, the auto transfer process will get triggered, the employee will be receive an SMS after the transfer,” he said.