Skip to main content

Workers can change their PF account if they change jobs

EPFO has said that EPFO ​​subscribers can switch their PF accounts on their own without the help of their old or new employer when they change jobs.
 
Workers can change their PF account if they change jobs.
EPFO

How to transfer PF account while changing company?

In a circular issued by the Employees' Provident Fund Organisation (EPFO) on Wednesday, it was stated that:

Subscribers who have obtained a unique number (UAN) for their PF account can easily switch their accounts to a new employer if they change jobs. The new employer will receive the UAN and start paying monthly PF contributions.

Earlier, subscribers with UAN had to apply through the new or old employer to switch their PF accounts from their old employer to a new employer. This is no longer necessary.

PF subscribers who have UAN can apply online and transfer their PF account to a new company.

Even if there are multiple accounts under the same UAN number, including accounts started by a new company, if they are linked to Aadhaar, you can easily apply and merge the accounts.

If multiple accounts are linked to Aadhaar from the same UAN number, the PF online process will verify the identity and merge the PF account numbers without the need for an application from the company.

If the name, date of birth, Aadhaar number and gender match in the UANs received after October 2017, the employee can apply and switch the PF accounts without the need for an application from the new company or the old company. This has been said.

Comments

Popular posts from this blog

What are the retirement expectations of Indian youth?

A majority of the Indian youth want to retire early and are expecting a large pension, a study has revealed.    Retirement plan Retirement preferences of Indian youth In a survey conducted by Grant Thornton Bharat among various stakeholders across India to find out about retirement planning, more than 55 percent of the participants said that they expect a pension of more than Rs 1 lakh per month during retirement. However, it has also been revealed that the savings they have made are not enough to compensate for this. This study reveals that there is a huge gap between pension preferences and retirement planning.  Most of the participants in the study said that they want to retire before the age of 45 to 55. However, they rely on traditional means such as provident fund, national pension scheme, and gratuity for retirement planning. More than 76 percent of the participants in the study said that they have not invested in annuity plans. The study emphasizes ...

This gold price is not permanent.

This gold price is not permanent, but when people think of a problem in the country, they buy gold first. It is good to buy as much as needed, but buying too much is foolish. When there is a famine, the things they buy are food, clothing, and money. If we don't have money, it is difficult to sell gold for urgent needs. Gold price Gold market crash history   Will there ever be a situation where gold , which has been rising very, very rapidly in a short period of time, will become a commodity? Studies on gold say that it may come. If we look at the price of gold over the past 50 years, rather than just 10 or 20 years, it seems that what you are saying has happened. That is, in September 1980, the price of 1 ounce of gold touched $666. 19 years later, in September 1999, the same 1 ounce of gold was sold for $255. A 62 percent decline. An ounce did not touch $666 again until 2007. That is, 27 years later. Next, in 2012, 1 ounce of gold touched $1,772. But, in just three ye...

No tax on gold, gold prices plummet

New Delhi, Aug. 13-Gold prices fell by nearly two percent in the international market yesterday after US President Trump announced that there would be no tax on gold. Gold price gold price fall reasons The US Customs Department issued a statement last week that the tax would also apply to gold bars . Following this, prices rose sharply. The price of one ounce of gold, i.e. about 28.35 grams, reached a new high of Rs 3 lakh. White House sources said at the time that the tax would be applicable and that an official clarification would be made soon. Following this, Trump announced on his Truth Social social networking site the day before yesterday that 'there will be no tax on gold '. This announcement allayed investors' fears regarding price hike, leading to high selling of gold. Following this, the price of one ounce of gold fell below Rs 2.90 lakh. The international market situation was also reflected in India. In the last 2 days in Chennai, the price of 22-ka...