Changes in the rules: Now the account holders can change themselves Date of exit & withdrawal and transfer of PF will be easy
The Employees Provident Fund Organization (EPFO) has changed the rules for Provident Fund (PF) account holders. With this change, withdrawal or transfer of PF has become easier. As a new feature, a new feature of ‘Date of exit’ has been added on the EPF portal. Due to this, now the account holders, employees will be able to update their information on the portal itself if they change their jobs. They will not have to depend on the previous employer for this. However, you will have to wait up to two months for withdrawal or transfer claim.Till now, the employee had to depend on the employer to file a date of exit after leaving the job.
What will be the benefit?
After two months, if you have to fill any claim, then you will not have to wait for the previous employer to register the date. According to the rule, if your date of exit is not marked properly after changing the job, then your job record will not be considered continuous. EPFO will consider you unemployed. Also, tax can also be sought on interest received during this period.
How to update Date of Exit
- First go to the registered website of EPFO.
- Log in here by entering the Universal Account Number (UAN) and password, captcha code.
- Before logging in, make sure that your UAN is activated.
- When the portal opens, go to the Manage section from the tab above and click on Exit Mark.
- The option to choose PF account number will be available from the dropdown menu. Select your old company account in it.
- After this you will get the option to fill the date of leaving the job and the reason for leaving.
- You will have options like retirement, short service due to leaving. Please enter it. Then click on ‘Request OTP’.
- OTP will come on your Aadhaar link mobile number.
- After adding the OTP, click on the OK tab. The message will come on your mobile that the date of leaving the job has been registered in your PF account.
