You will not have to worry on the Provident Fund aspect, If you plan to change your job next month.
New Delhi: You will not have to worry on the Provident Fund aspect, If you plan to change your job next month.
Now From September 2017, the Provident Fund of your current organisation will be automatically transferred to the next joining office, as per a report in the Times of India.
TOI quoting chief provident fund commissioner V P Joy said, “Now we have made Aadhaar card compulsory for enrollment. We don’t want accounts to be closed in future. The PF account is the permanent account for each and every employee. The worker can retain the same account for social security”.
The PF commissioner, is pushing a host of initiatives in the Employee’s EPFO to make it more worker-friendly environment. However, one of the main challenges that the Retirement fund body faced was premature closure of accounts whenever there was a change of job.
“We are trying to ensure transfer of money if one changes jobs, without any application in three days after joining. In future, if one has an Aadhaar Card ID and has verified the ID, then the account will be transferred without any application if the worker goes any place in the country. This system will be in place very soon,” Joy told the Time of India.
EPFO has made it mandatory for all subscribers as well as pensioners to submit their Aadhaar number. This will help us linking EPF account, pension account, bank account and Aadhaar number which would eventually facilitate providing a host of online facilities to subscribers like online withdrawal and fixation of pension etc.