Saturday, April 20, 2013

Apply online for Provident Fund transfer or withdrawals from July 1: EPFO

Provident fund subscriber of  EPFO will be able to apply online for transfer and withdrawal of their provident fund from July 1, a move aimed at speedy settlement of claims.

Most of People face problem while switching their job they need to transfer thier account. This central clearance facility will expedite the process.The facility will enable subscribes to track online the status of their applications for transfer and withdrawals.
However, the EPFO's ambitious plan to provide permanent account number to all subscribers would be possible by early next year.

Under the new system, the onus of verifying the details of the PF account from previous employers would be on the EPFO. At present, employees have to get their applications verified from their employers for settlement of claims.

The onus of getting the detail of the PF account verified from employers would be on the Employees' Provident Fund Organisation (EPFO) in the new online system for transfer and withdrawal claims