Friday, December 18, 2015

Provident fund transfer .. what a pleasant surprise

In the past, after changing jobs, get your EPF transferred to the new employer, used to be a big pain. Figuring out where the process is stuck itself would take years. I have personally had to collect documents from previous employers and submit them to ensure the transfer goes through fine.

But the recent experience was just awesome. With the introduction of UAN and electronic settlement of EPF dues by employers, company accounts with EPFO are getting settled on a time.

This means, that once you have a UAN number and your organization is making remittances electronically, transferring EPF from one company to another is lot more simpler.

In my case, moment the new employer, linked the new EPF number to my UAN, since the previous employer had already filed up to date, the PF transfer was initiated automatically!!

An SMS notification and a week latter, the money is now in my new EPF account and visible in the passbook!

Good job EPFO :-)

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