Planning a shift in job? Your PF account would be transferred automatically!

Planning a shift job? Your PF account would be transferred automatically!

New Delhi, August 11: No worries about the Provident Fund if you are thinking about a relocating yourself to another organisation. PF will be automatically transferred from the company in which you are working towards the firm you are about to join.

According to media reports, V P Joy, chief provident commissioner has asserted that they have made Aadhaar mandatory for enrolment. They don’t wish to get their accounts closed. As PF is the permanent account, the employee can continue using the same account for social security.

Employees’ Provident Fund Organisation (EPFO) has introduced many new schemes to make it more worker friendly. But the main challenge faced by Retirement fund body was the premature closure of accounts when people get in to another job.

According to reports from media, EPFO is trying to transfer the money within three days without going through any formalities like filling up the application form. The account will be transferred to anywhere in the country without any application for the person who has a verified Aadhaar ID.

EPFO has made it compulsory for all subscribers and pensioners to submit their Aadhaar number. Linking PF account, pension account, bank account and Aadhaar number helps in making things easier while availing online facilities like online withdrawal and pension fixation.