To avoid the
Employees Provident Fund (EPF) account becoming inoperative due to change of
jobs, an employee should get his/her balance transferred to the new account
& earn interest on the consolidated
amount.
Since,
October (2013) this year, when the EPFO launched its online transfer
facility,employees can request a transfer through its Online Transfer Claim
Portal (OTCP). Meanwhile, the offline mode also remains available.The PF
subscribers should visit www.epfindia.com click on OTCP to
follow the process.
Eligibility..
Employees
need to provide the previous and current PF account numbers by clicking on the
check eligibility option on the portal.
Self -
Registration..
The employee
should register himself /herself and obtain a member ID. The detailed process
for registration is available at the link on the portal.
Claim
form..
The employee
should fill up the EPF transfer claim form, earlier known as Form 13. Provide
personal bank account details and EPF account number, besides the EPF details
of the previous and present employer, date of joining & leaving the
previous employer, and the date of joining the current employer.
Verification..
The form
should be verified by either employer, and the employee needs to submit a
signed printout to the employer he chooses for attestation. The employee can
view the updated status of the claim in the view the status of transfer claims
tab of the portal.
Points to
Note..
While filling
the online form, the employees date of birth is matched with that in the EPFO
records. In case of a mismatch, the online transfer is blocked after three
attempts and the process has to be undertaken offline. For a faster settlement,
choose your previous employer for attestation. The employee must submit the
signed printout of the claim after its online submission within 15 days.
Courtesy:
Centre for Investment Education and Learning (CIEL). Contributions by Girija
Gadre and Arti Bhargava.
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