EPFO account transfer facility: The EPFO account transfer facility is available to members whose EPF accounts are under the purview of the EPFO.
EPFO account transfer facility: The Employees’ Provident Fund Organisation (EPFO) introduced a new system to streamline the process of transferring provident fund (PF) balances when you are transitioning between jobs. Earlier, you had to manually request a transfer of PF balance to your new employer’s account when you switched jobs. But as per the new automatic transfer system, the PF balance can be credited to the new employer’s account without any action required from you.
EPFO account transfer facility Who is eligible?
The EPFO account transfer facility is available to members whose EPF accounts are under the purview of the EPFO. Exempted PF trusts that manage PF contributions for some companies are not covered by the facility.
Read More: EPFO Fund Transfer To NPS Two-Factor Authentication: Key Finance-Related Rules Changing From Today
EPFO account transfer facility: What are the prerequisites?
There are several requirements that should be met for the EPFO account transfer facility. These are:
Matching UAN and Aadhaar numbers: The UAN (universal account number) and Aadhaar number provided by the new employer should match the details which are in EPFO’s database.
Verification of Aadhaar: Aadhaar number must be verified against the UAN at the previous place of employment.
Availability of member details: Details such as date of joining and date of exit should be available from the previous employer.
Activated UAN: The UAN should be activated. Additionally, the mobile number associated with the UAN should be operational.
Read More: EPFO to set up next-gen security operations centre to tackle cyberattacks
How EPFO account transfer facility works?
When you take up a new job and the first month’s PF contribution is received from the new employer, the automatic transfer will be triggered. Once the automatic transfer is initiated, you will receive SMS and email notifications.
What to do if automatic transfer does not happen?
If there are any issue during the transfer process, you can resort to Form 13 for manual transfer. You also have to verify the transfer’s completion via your passbook on the unified portal as the transferred amount will reflect as a credit entry in the latest passbook.
