Last updated on October 23rd, 2017 at 05:49 pm
Under EPF (Employees Provident Fund), it is advisable to transfer PF accounts between organizations as and when employees change their jobs.
Earlier subscribers had to file separate EPF transfer claims which is Form 13 (For transferring PF / pension between different accounts) regarding the same.
However, EPFO (Employees Provident Fund Organization) has declared that the subscribers no longer have to file separate EPF transfer claims using Form -13 as it will now be done automatically.
Although, at the time of joining, the employees are required to provide details of the previous EPF account in new composite F-11 form (which is a declaration form by a person taking up employment in any establishment on which EPF scheme is applicable). And after that funds will be automatically transferred by the EPFO to new EPF account.
An official of EPFO also said that they are deciding upon providing Aadhaar card and bank accounts of the employees along with to use new F – 11 composite form.
Also, note that recently EPFO (Employees Provident Fund Organization) have mandated linking Aadhaar number with the EPF account after Government made Aadhaar mandatory for all the other official documents. This linkage will also help to avail subsidized scheme easily where the subsidized amount will be transferred directly into the account.
To know more about the linkage between Aadhaar card and EPF account read https://rupeenomics.com/link-aadhaar-card-epf/
So, the Composite declaration form (F – 11) is replacing form 13 (For transferring PF/pension between different accounts) which is decided by the EPFO.
EPFO (Employees Provident Fund Organization) which works under the Ministry of Labor and Employment has also introduced an online portal where a subscriber can check EPF claim status online as well. And this process is easy and hasslefree. And only an EPF member or subscriber can make a withdrawal claim.