Reported By: | Edited By: DNA Web Crew |Supply: DNA webdesk |Updated: Nov 24, 2021, 09: 09 AM IST
The Provident Fund (PF) quantity is taken into account to be the very most life like funding for the long bustle for the working class. Now, in a portion of like minded news for service class employees, the Employees Provident Fund Organisation or EPFO Board of Trustees has reach up with a extremely crucial resolution with regards to the transfer of PF funds upon altering a job.The EPFO Board of Trustee, in its 229th meeting on Saturday (November 20), licensed a centralised IT machine of PF account whereby employees receive not desire to bag their PF fund transferred after they exchange jobs. The PF account number will remain intact on altering jobs and the employee would not desire to effort about PF account transfer.What are the modern principles? In accordance with the existing principles, after leaving a job, the PF holder has to total the types at every the present and unusual places of work. Attributable to all these sophisticated and time-ingesting processes, many PF holders enact not transfer the quantity to the unusual account.In the unusual company, one more PF account is created in step with the outdated UAN number. It would not show conceal the total quantity within the PF account as the PF holder has not transferred the PF quantity of the outdated company.