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EPFO eliminates the need for filing for EPF transfer
Posted on: 23/Sep/2017 4:24:29 PM
There is no need for filing your EPF transfer with Form-13 in case of job change, as the retirement fund body EPFO is automating the process for all its subscribers.
When newly joining as an employer, it is enough if the employee provides previous EPF account details to the new company in the new F-11 form which is meant for declaring their details, said a senior EPFO official.
Upon providing the EPF account details through F-11 form, the funds shall get automatically transferred by EPFO to new EPF account, he further added.
The EPFO has decided to make use of F-11 composite form. It is a document of declaration to be filed by the employee via his employer for submitting all bank account and Aadhar details.
As of now, employees need to file the Form-13 for EPF transfer for obtaining new account in case of job change.
This composite declaration form F-11 shall be used for replacing the Form No 13 in case of auto transfer.
There are different kinds of claims of varieties over one crore including EPF withdrawal, fixation of pension, transfer claim, and so on. In case of transfer claim, it comprises of about 10 to 15 percent of total claims by the subscriber.
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