Transferring EPF money will now be simple thing because EPFO or Employees Provident Fund Organisation made all rules for EPF corpus transfer easy. Earlier we reported that soon EPF account transfer will happen automatically as soon as you change jobs. And accordingly Government of India made rules and in this way you do not face problems when changing jobs.
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New rules in EPF transfer
When you changed jobs you had to fill Form 13 of EPF but now you do not have to do it. It is so because you will now be using Form 11 and this form is Composite Form 11. To get this form you click on below link to directly go to official website of EPFO or Employees Provident Fund Organisation – http://www.epfindia.gov.in/site_docs/PDFs/Downloads_PDFs/Form11Revised.pdf. From this link you can get Form 11 which you fill and submit to authorities.
Points to remember:
From now on multiple forms which are for settling claims have been removed while in place of them there is only one claim form and so no EPF members will face any problems.
You also remember that Composite Form 11 is declaration form cum document. Moreover only employee files this form through employer; however before sending this form you fill Form 11 of EPFO completely.
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In this form you add details of Aadhaar, bank account number and other similar details so that authorities continue process of transferring Employee Provident Fund corpus whenever you change jobs.
Government of India and Employees Provident Fund Organisation authorities allow you to settle EPFO claims online; however now you may use UMANG application which is a mobile app to settle EPFO claims.
Things to know about Composite Form 11 of EPFO
- It is necessary that you fill Form 11 (composite form) at the time you change jobs
- This helps you get provident fund that you got from previous job
- So when you get new job then you mention about your earlier PF account to concerned people in new office as they can then give you Composite Form 11
Therefore it becomes easy to transfer account and money from old PF account (of old office) to new office PF account.
EPFO or Employees Provident Fund Organisation started these steps keeping in mind digital India and digitisation in India. In addition if every single thing comes online then people and especially all EPFO subscribers do not find trouble.
This change of rules help EPFO members to get PF funds easily and they do not have to wait for a long time. You can also learn about benefits of knowing how to use EPF ECR or the electronic challan cum return.
To know about EPF ECR you read one more article on EPF Electronic Challan cum Return.
Finally you keep it in mind to follow all rules and regulations when using new Form 11 of EPFO.