Automatic EPF account transfer: Not meeting these 4 conditions can stop your provident fund transfer

financialexpress.com:

The Employees’ Provident Fund Organisation (EPFO) has streamlined the process of transferring provident fund (PF) account for employees when they switch jobs. Now, you don’t need to request your previous employer to transfer PF balance from your old account to the new account opened with the new company.

Under the previous standard practice, whenever an employee joined a new company, the new organization would usually ask the individual to get his old provident fund balance transferred to the new company by receiving Form 13 from the previous employer followed by some more steps. Thanks to the new policy, you will now have your EPF account balance automatically transferred when you switch jobs.

However, it’s important to note that automatic EPF balance transfer comes with certain conditions and prerequisites. While automatic transfer is now possible, there are still specific pre-conditions that need to be met.

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To ensure that your EPF balance moves with you when you switch jobs, make sure your UAN, Aadhar card and phone number are up to date. These three pieces of information help make the process smooth and hassle-free.

MIRA Money Co-Founder Anand K Rathi explains in detail the prerequisites that must be met before an individual’s EPF account is automatically transferred from his or her old employer to the new employer.

Rathi outlined basically four key prerequisites for the automatic transfer of an employee’s provident fund balance when switching jobs.

“Your UAN (Universal Account Number) and Aadhar numbers should match with the new employer’s data. So make sure your details are