Automatic PF Account Transfer
TO BEGIN IN SEPT - Change of job? PF a|c to be transferred automatically
From next month, your Provident Fund (PF) account will be transferred automatically when you change your job, chief provident fund commissioner V P Joy said.
The facility to automatically transfer accounts will result in employees continuing their contribution till they retire in stead of opening a new account without transferring the funds.
“One of the main challenges is the number of premature closure of accounts. Whenever there is change of job, a lot of accounts are closed, then they restart their account later on,“ he added. “Now, we have made Aadhaar compulsory for enrolment. We don't want accounts to be closed. The PF account is the permanent account.
From next month, your Provident Fund (PF) account will be transferred automatically when you change your job, chief provident fund commissioner V P Joy said.
The facility to automatically transfer accounts will result in employees continuing their contribution till they retire in stead of opening a new account without transferring the funds.
“One of the main challenges is the number of premature closure of accounts. Whenever there is change of job, a lot of accounts are closed, then they restart their account later on,“ he added. “Now, we have made Aadhaar compulsory for enrolment. We don't want accounts to be closed. The PF account is the permanent account.
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Oct 31
Hi Mohit Pande Ji, Very good initiative, but in reality nothing is in practice. Mine is an example - I have old UAN and pf a/c. Later joined new company and they created new UAN and PF account. Now I am trying to transfer old UAN/pf to new UAN/pf a/c. Since 9 months I am trying to initiate transfer - it is not happening, because of software updates are happening. And mainly the web links are not working/site not found etc..... Very very painful experience..... The toll free numbers are dumb, getting some one on phone line is so tough, even if get them talk to and listen to you problems. Very well compiled answer is to Please visit your pf regional office !!! :-( PF department unlike, Income Tax department can get the software developed by professional Organization. But PF department itself is developing the software and trying to put the same old procedures into computers. Since 2 years I don't see any value addition. All stuck and re-inventing the same idea with a different color. I don't what solution here, but mere publishing wonder solutions, please check the ground reality of the implementation of initiatives that are published. God bless all strained pf members. Regards Arun
Aug 14
I am running around various PF offices to get pension but with out success. PF is waste of money except for govt servants. For people in private companies and who shift locations face innumerable difficulties and there is help from PF office. All are only tall promises and for publicity.
Aug 12
Dear Pande sir,It's really good initiative .Looking forward on benefit to PF member.Thanks for post
Aug 12
