EPF Account Rules: Rules for transferring EPF account on changing job have changed, now this work will be done automatically, know how
Automatic EPF account Transfer Facility: EPFO’s automatic EPF account transfer facility has made the process of switching jobs easier for employees.
EPF account: While changing jobs attracts you with a new role and a new salary, transferring PF money seems to be a big hassle. But now this is no longer a hassle, the Employees’ Provident Fund Organisation (EPFO) has made a big change and started the facility of Automatic Fund Transfer for PF account holders. Therefore, now account holders will not need to manually request for PF transfer when changing jobs.
EPFO has made this process very easy through its Automatic EPF Account Transfer facility. This feature ensures that your EPF balance moves from one employer to another easily without filling any form or doing any paperwork. This process has now become very efficient, you are updated about the transfer status through regular SMS or email notifications.
What is EPF Automatic Transfer Facility?
The EPF Automatic Transfer facility allows you to seamlessly transfer your EPF balance from your old employer to the new employer when you change jobs. Earlier, employees had to manually apply for the transfer of their EPF funds, but with this facility, the transfer is now initiated automatically when you link your Universal Account Number (UAN) to your new employer.
This ensures that your EPF account remains consistent throughout your career, making it easier for you to manage retirement savings.
How does the Automatic Transfer Facility work?
- The process of automatic EPF account transfer is quite simple. Let’s know how it works (How Does the Automatic Transfer Facility Work?).
- Universal Account Number (UAN): Every EPF member has a unique UAN. That is, no matter how many jobs you change, your UAN remains the same.
- New Employer Registration: When you join a new company, your employer registers your UAN under his establishment on the EPFO portal. This step links your new employment details to your existing UAN.
- Automatic Transfer Triggered: Once your new employer registers your UAN, the EPFO system automatically starts transferring your EPF balance from your previous employer to the current employer.
- Intimation via SMS or Email: Once the transfer request is initiated, EPFO sends a notification to your registered mobile number and email linked to your UAN, informing you about the status of the transfer.
- Successful Transfer: The EPF balance from your old employer is credited to your new EPF account within a few days.
Terms and Conditions for Automatic EPF Transfer
For the automatic EPF transfer facility to work, the following conditions need to be met:
Active UAN: Your UAN should be active and linked to your old and new employers.
Aadhaar Verification: Your UAN should be verified with Aadhaar. This ensures that your identity is valid across all employers and helps in smooth transfer of funds.
Mobile Number and Email: Mobile number and email must be linked to your UAN to receive notifications and updates from EPFO.
Previous EPF Account: Your UAN in your old EPF account should be correctly mapped and updated with the required KYC details.
If any of these conditions are not met, you may need to manually raise a transfer request through the EPFO portal.
What to do if automatic transfer does not work?
In some cases, automatic transfer cannot be initiated due to discrepancies in UAN linking, KYC details or other factors. If automatic transfer does not work, here is what you can do:
Update your UAN details: Make sure your UAN is correctly linked with your Aadhaar, PAN and bank details on the EPFO portal as incomplete KYC may delay the transfer.
Manual transfer request: If automatic transfer fails, you can log in to the EPFO member portal and apply for EPF transfer manually under the ‘One Member One EPF Account’ service.
Contact EPFO: If the problem persists, you can contact the EPFO help desk or visit the nearest EPFO office for assistance.
To check the status of your EPF transfer, follow the steps given below:
Visit EPFO portal: Login to the EPFO member portal using your UAN and password.
Go to ‘Track Claim Status’: To check the status of your EPF transfer request, go to the ‘Track Claim Status’ option on the portal.
Check SMS/email: Keep an eye on your registered mobile number or email for notifications from EPFO regarding the status of the transfer.
EPFO’s automatic EPF account transfer facility has made the process of switching jobs easier for employees. If you are also joining a new job soon, ensure that your UAN is up-to-date and linked to KYC details to take full advantage of this service.
