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  5. EPFO simplifies rules: Employees can now transfer PF accounts themselves | Here's how

EPFO simplifies rules: Employees can now transfer PF accounts themselves | Here's how

The EPFO has introduced major updates to simplify PF account transfers. Employees can now transfer their PF accounts online using UAN and Aadhaar, eliminating the need for employer intervention. Know how to link Aadhaar with your EPF account and take control of your provident fund management.

Edited By: Nitin Kumar @Niitz1 New Delhi Published : Jan 19, 2025 16:12 IST, Updated : Jan 19, 2025 16:12 IST
EPFO simplifies rules
Image Source : FILE PHOTO REPRESENTATIVE IMAGE

The Employees' Provident Fund Organisation (EPFO) has announced major changes to facilitate online transfers. This action is intended to make the PF transfer process more efficient, reduce delays, and make it more convenient for employees, especially job changers. The revised action removes the need for employer intervention in some cases, which is waived, and allows members to transfer their PF accounts free of charge.

Key changes introduced

  • Simplified transfers: Employees can now directly transfer their PF accounts using their Universal Account Number (UAN) and Aadhaar details.
  • Elimination of employer dependency: Members do not have to depend on their previous or current employer for PF transfers, making the process faster and more transparent, obviously.
  • Increased performance: The new system can significantly reduce latency, improving the overall user experience.

Implementation of changes

  1. UANs issued after 1 October 2017 linked to Aadhaar do not require employer intervention for transfer.
  2. Currently the transfer between multiple UANs linked to the same Aadhaar number is automatic, provided the name, date of birth, and gender match across accounts.
  3. For accounts created before October 1, 2017, the simplified method will apply only if the two accounts have the same credentials.

How to link Aadhaar and EPF account

  1. Visit the EPFO ​​Member e-Sewa portal.
  2. Login with your UAN, password and captcha.
  3. Under the "Manage" menu, select "KYC" and select the Aadhaar option.
  4. Enter your 12 digit Aadhaar number and name as per Aadhaar card.
  5. Submit your details and click "Save".
  6. After verification with UIDAI records, your Aadhaar will be successful

Benefits of the Update

  • Immediate transfers: Delays caused by employer involvement will be minimized.
  • Transparency: Members can directly manage transfers, ensuring better clarity in the process.
  • Ease of use: The streamlined process promotes convenience for employees managing their PF accounts.

The EPFO’s initiative is a step forward in empowering employees by granting them greater control over their provident fund accounts, ensuring faster and smoother transitions during job changes.

Also read | Good news for Jharkhand: Four districts to get rail connectivity for first time since Independence

 

 

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