The Employees Provident Fund Organisation (EPFO) has introduced a significant change that will make it easier for professionals to transfer their provident fund balance when switching jobs
NEW DELHI — The Employees Provident Fund Organisation (EPFO) has introduced a significant change that will make it easier for professionals to transfer their provident fund balance when switching jobs.
Members can now download Annexure K, a crucial document needed for PF transfers, straight from the EPFO Member Portal, according to a circular released earlier this week by the Union Labour Ministry.
Until now, employees could only access Annexure K upon request, and it was only shared between PF offices, which frequently caused delays and inconvenience. By giving members immediate online access to the document, the reform seeks to improve convenience and transparency.
Because it includes detailed information about an employee's provident fund account, including member information, the PF balance with interest, full service history, job details, and joining and exit dates, Annexure K is essential for the PF transfer process.
Also read: Centre announces 2 key reforms to simplify EPFO claim settlement process
EPFO members can now activate Universal Account Number via UMANG app
When an employee changes jobs, this transfer certificate guarantees that their pension service and PF accumulations are correctly transferred to a new account.
According to the Labour Ministry, the new rule will guarantee a smoother transfer process, enable employees to check the status of their transfer applications online, and confirm the accuracy of their PF balance and service period in the new account.
By logging into the EPFO member portal, going to the online services section, selecting "Track Claim Status," and then selecting the option to download Annexure K in PDF format, employees can obtain the document.
Steps to download Annexure K: Log in to the EPFO member portal using your details, go to ‘Online Services’, select ‘Track Claim Status’, and click on ‘Download Annexure K’.
Earlier, Union Minister for Labour and Employment, Dr Mansukh Mandaviya, also introduced a new facility called ‘Passbook Lite’ which will enable members to easily check their passbook and related summarised view of their contributions, withdrawals and balance in a simple and convenient format through the member portal itself -- without having to go to the passbook portal
As part of the changes made to guarantee that members receive effective, transparent, and user-friendly services, the EPFO has added a new feature called "Passbook Lite" to its member portal.
By offering all essential services, including passbook access with a single login, this initiative is anticipated to enhance the user experience. However, members can still use the current "Passbook Portal" to view all of the passbook details, including a graphical display.