INSUBCONTINENT EXCLUSIVE:
A centralised system okayed by EPFO's board will enable merger of all PF accountsIn an employee-friendly move, the employees' provident
fund organisation (EPFO) has cleared the development of a centralised IT-enabled system by C-DAC, which will enable merger of all EPF
accounts of its members and do away with the requirement of getting one's account transferred in case of job changes.In simple words,
employees soon won't have to worry about getting their EPF accounts transferred to their new organisations while changing jobs.This
centralised system will facilitate the de-duplication and merger of all PF accounts of members
It will remove the requirement of transfer of EPF account whenever a member changes jobs.EPFO's Central Board of Trustees (CBT) took this
decision during their meeting, which was held on November 20, 2021.As of now, if anybody changes jobs, then a new EPF account for that
person is opened in the new organisation and the employee has to get his or her money - which is held in the EPF account created by the
Universal Account Number (UAN) is linked with Aadhaar
If UAN is not linked with Aadhaar, then the employee can get the money transferred to the new EPF account by submitting a form to the new
development of centralised IT-enabled systems by C-DAC
Post this, the field functionalities will move on a central database in a phased manner enabling smoother operations and enhanced service
The centralised system will facilitate de?duplication and merger of all PF accounts of any member
