PF transfers made easier: Switched jobs? All you need to know about EPFO’s new features

What is 'Passbook Lite'?

This initiative is expected to improve user experience by providing all key services, including passbook access through one login.

Currently, members have to login to the passbook portal of EPFO to check their Provident fund contributions and transactions involving advances or withdrawals.

What is Annexure K and why is it important?

At present, when employees change jobs, their PF accounts are transferred to the new employer’s PF office through Form 13 online. After transfer, a Transfer Certificate (Annexure K) is generated by the previous PF office and sent to the new PF office. Until now, Annexure K was only shared between PF offices and was made available to members only on their request.

This will bring the following benefits to members:

⦁ Ability to track status of transfer applications online, ensuring full transparency and allowing members to easily verify their PF transfers

⦁ Confirmation that PF balance and service period are correctly updated in the new account

⦁ Maintenance of a permanent digital record for future reference, especially important for EPS benefit calculations,

⦁ Promoting ease of living, transparency, and trust in EPFO processes.

Reduction in number of approvals to fast-track settlements

EPFO has taken the transformative step to reduce and rationalize the approval hierarchy. Powers that earlier rested with RPFC/Officer-in-Charge have now been delegated to Assistant P.F. Commissioners and subordinate levels in a structured, tiered manner.

The scope of this reform will include PF transfers and settlements, advances and past accumulations, refunds, cheque/ECS/NEFT returns, and interest adjustments.

This is expected to yield the following benefits for users:

⦁ Faster claim settlements and reduced processing time,

⦁ Simplified approval layers for smoother service delivery,

⦁ Improved accountability at field office level, and

⦁ Enhanced transparency and member satisfaction through quicker, seamless services.

By using the online portal to update your details and initiate transfers, you can take advantage of these new features and ensure a quick and hassle-free management of your PF account when you change jobs.