What are the key features of the EPFO's simplified PF account transfer process?
Explore the recent changes in PF account transfer process by EPFO.
1.
- EPFO has introduced a simplified online PF account transfer process to make it easier for employees to transfer their PF accounts from one employer to another.
2. The new process allows employees to transfer their PF funds online through the unified portal of EPFO without having to approach their previous or current employers.
3. The system eliminates the need for paperwork and physical intervention, making the transfer process quicker and more efficient.
4. To initiate the transfer, employees need to log in to the EPFO portal using their UAN (Universal Account Number) and select the employer from which they want to transfer the PF amount.
5. Once the transfer request is submitted, the PF amount gets transferred directly to the employee's new PF account.
6. The digitalization of the PF transfer process by EPFO aims to reduce delays, errors, and fraudulent activities associated with manual transfers.
Answered
2 weeks ago