The Employees’ Provident Fund Organization (EPFO) has changed the rules for Provident Fund (PF) account holders. After this change, it has become easier to withdraw or transfer PF money.
Under the new facility, a new feature of ‘Date of exit’ has been added to the EPF portal. Due to this, now account holders, employees will be able to update their information on the portal themselves when they change their job. They will not need to depend on the previous employer for this. However, one will have to wait for two months to withdraw money or claim transfer. Till now, the employee had to depend on the employer to register the date of exit after leaving the job.
What will be the benefit? If you have to file any claim after two months, then you will not have to wait for the date to be registered with the previous employer. 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 payment can be demanded on the interest received during this period.
How can we update Date Of Exit?
- First of all go to the registered website of EPFO.
- Log in here by entering Universal Account Number (UAN) and password, captcha code.
- Before logging in, make sure that your UAN is active.
- When the portal opens, go to the Manage section from the tabs given above and click on ‘Exit Mark’.
- You will get the option to select PF account number from the dropdown menu. Select your old company’s account in it.
- After this you will get the option to fill the date of leaving the job and the reason for leaving.
- In the reason for leaving, you will have options like retirement, short service. Enter it.
- After this click on ‘Request OTP’.
- OTP will be sent to your Aadhaar linked mobile number. After entering the OTP, click on the OK tab.
- You will receive a message on your mobile that the date of leaving the job has been recorded in your PF account.
Related Articles:
Bank FD Rates: These banks are offering 9.5% interest on fixed deposits, check FD details
PAN 2.0 Apply: How can you get a new PAN from the income tax website, check the step by step process
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
