New rule of EPFO: If you change job, transfer PF account yourself, now the troubles of old boss are over!

EPFO is going to relieve its around 8 crore members forever from the old problem of PF transfer. People often change jobs in search of a better job, but to get the balance of the old PF account transferred to the new one, they have to go through long paperwork. Now the organization is bringing ‘Automatic Transfer System’, which will soon become fully active.

Now you will not have to go to the old office

After this new rule of EPFO, there will be no need for employees to fill any online claim or application for PF balance transfer. In the earlier system, upon joining a new job one had to depend on the old employer. Many times the old employer was lazy in giving approval, due to which the money got stuck.

Now employer interference has been completely removed. As soon as you join a new company, the system will automatically transfer the old PF balance to the new account. This entire process will be automated, so you don’t have to worry whether the old company passed the claim or not.

Got freedom from the headache of filling Form-13

Earlier, for PF transfer one had to fill Form 13 and wait for weeks for verification. Technical glitches or document mismatches resulted in claims being rejected, wasting time and increasing stress.

No need to upload any documents in the new system. Where earlier it used to take months, now this work will be done in just 3 to 5 days. The aim of EPFO ​​is that the employee’s focus should be only on work and not on PF complications.

No loss of interest, full money on retirement

The biggest benefit of this automatic system will be financial security. Delay in transfer would result in error or loss in interest calculation. Now the interest will continue continuously through automatic transfer. On retirement, the entire fund will be safe and grown in one place.