Employees Provident Fund Organisation has recently announced the smooth process to transfer EPF balance online while you change your job. All you need to do is fill a form with the new employer. He will upload it on the EPFO portal. This leads to automatically transfer of EPF balance. So, now employees do not require to go here and there and not even need to initiate the transfer request online. Central Provident Fund Commissioner announced the transfer procedure on September 20.
At the time of joining the new job with new employer, you need to submit the above form. So, if the organisation comes under the EPF act, your new employer will ask you to fill the firm and submit it. The most important thing to note is that if your salary accompanied with Basic+DA at the time of joining is more than 15,000 then you can decide whether you want to be part of EPF or not. However, if your salary is less than 15,000 then you don’t have any such choice available to you. It is mandatory no matter even if your salary increased during the tenure with this new employer.
Employees need to share their personal details like name, date of birth, date of joining, contact, address, bank details, Aadhaar number and PAN details. Earlier, one needs to submit two forms – Form 11 and Form 13. It used to be processed offline. This many a times results in creating multiple UAN numbers. For this, you have to request EPFO through your current employer for merging the multiple UAN into one UAN number.
How To Transfer EPF Balance Online Automatically?
Till now, all the employees have understood the importance of Form 11 of EPF. Earlier the EPF balance transfer process was completely physical. But now EPFO has made the process online. With this option, you can transfer your old job EPF balance to new job automatically. Well, still offline process is available. So either you can choose online or offline mode.
Complete Guide to Transfer EPF Automatically while changing job
The online process of EPF balance transfer automatically is available only for those employees whose UAN is linked with Aadhaar.
Here is the process to transfer EPF balance automatically while changing job online is as follows –
- Fill the new EPF composite declaration form 11 with details such as name, parents name, date of birth, date of joining, etc.
- In next step, you have to provide your previous employment details such as Company name, UAN, EPF account, date of joining, date of exit.
- Now sign the form and submit the form to your new employer.
- Your employer will feed all the details in EPFO portal and then will upload the Form 11 on the portal.
- An SMS will be sent to the employee registered mobile number.
- However, the transfer will be complete only if,
a) Employee not requests to STOP such transfer within 10 days.
b) If the first contribution by the present employer is deposited to the EPF account.
Once the transfer is complete a message will be sent to employee registered number or the email ID.