Provident Fund (PF) is an important savings scheme for millions of employees working in the private sector, which becomes an economic support after their retirement. This money is helpful not only for retirement, but also in the state of emergency. But till now when people left one job and went to another, they had to face many technical problems in PF transfer – due to the service period overlapping.
However, now EPFO (Employees’ Provident Fund Organization) has taken an important decision on this problem, which is a relief news for crores of employees. Now PF transfer claim will not be rejected due to slight service overlapping.
What is the case of overlapping in PF transfer?
When an employee joins a new company and wants to link a new PF account to his old PF account, he has to claim PF transfer. This process was quite complex earlier, because if both the jobs of jobs had a slightly overlap (eg of one day), the EPFO rejected the transfer claim.
With this, not only the employee had to file the transfer claim again, but the money was also stuck.
What does EPFO’s new rule say?
EPFO has recently issued a circular, which states that:
If overlapping is found in the service dates of an employee’s old and new job, now the transfer claim will not be rejected only on this basis.
EPFO’s regional offices have been instructed to process such claims without rejecting them.
Till there is no serious doubt in the event of an overlapping, the transfer should be carried forward without asking for cleanliness from the employee.
If there is really doubt in any case, then only details or documents should be sought from the employee.
What will the employees benefit from this?
Millions of people will get the following benefits with this change:
PF transfer will accelerate – now a slight date will not stop overlapping claim.
Employees will be saved-you will get rid of the problem of rejecting the claim repeatedly.
The transfer process will be easier – Documentary mess will be less and EPFO will carry forward the process by itself.
Relief to job changes – PF claims will be comfortable after changing jobs and comfort in the process.
How to transfer PF?
EPFO has made PF transfer digital through online portal and unified Member Portal. With the steps given below you can claim your PF transfer:
Visit EPFO’s website: https://unifiedportal-mm.epfindia.gov.in/memberinterface/
Login with UAN number and password.
Click on the “Online Services” tab.
Select “One Member – One EPF Account (Transfer Request)”.
Fill the details of the old and new company.
Verify and submit claims through Aadhaar OTP.
