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EPF transfer on job change to become automated from next fiscal

Subscribers of Employees Provident Fund Organisation (EPFO) would not be required to file employee provident fund (EPF) transfer claims on changing jobs from the next fiscal. The EPFO is working on making the EPF transfer process automated. Under the new process, as soon as the new employer would file the monthly EPF return including the universal account number (UAN) of the new employee, the EPF contributions made and interest earned during the employee’s previous job would be automatically transferred. The EPFO gets about eight lakh EPF transfer claims every year. 

Read More at The Economic Times News date : 10 Mar 2019, Sunday

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