The Employees’ Provident Fund Organisation (EPFO) has been offering its members a facility of automatic transfer of EPF accounts when they switch jobs. Despite its convenience, the facility is not well known.
The automatic transfer helps existing EPF members switching jobs to move their PF balances also. They would not have to give any online or offline requests for transfer of their EPF account balance from the old employer to the new employer. The EPF account transfer would happen automatically.
The facility makes it easier for EPF members to avoid the hassle of transferring EPF accounts when they change jobs.
Vaibhav Bhardwaj, Partner, INDUSLAW - a law firm - says, “EPFO’s automatic EPF account transfer facility has been functional for some time now. The circular for the same was issued in 2017.”
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