Mail News Service
Jamshedpur, Jan 21: In a move aimed at improving service delivery and making life easier for its members, the Employees’ Provident Fund Organisation (EPFO) has streamlined the process of transferring PF accounts when members change jobs. The updated process eliminates the need for online transfer claims to be routed through the previous or current employer in most cases.
With the new system in place, it is expected that more than 1.20 crore of the total 1.30 crore transfer claims, or about 94%, will be directly sent to EPFO without requiring any employer intervention. Currently, in certain cases, no employer approval is required when a member leaves one job and joins another.
Since the implementation of this simplified process from April 1, 2024, EPFO has received approximately 1.30 crore online transfer claims. Of these, nearly 45 lakh claims, or 34.5%, are auto-generated transfer claims. This change will significantly reduce the processing time for claims, leading to fewer complaints (currently, 17% of all complaints are related to transfer issues) and rejections.
For large employers, who previously had a substantial workload approving transfer requests, the updated process will streamline business operations and improve efficiency.
After the revised process is fully implemented, transfer claims will be processed directly by EPFO, providing faster service for members.
