EPFO i.e. Employees Provident Fund Organization has made changes in its circular. EPFO has made 4 major changes to help PF holders. Which includes rules like making PF account transfer easier and updating KYC. Let us tell you about those four changes made by EPFO.
EPFO has made it very easy for PF holders to update personal details. Many times, while opening an account, personal information of the employees like date of birth etc. was filled wrongly. To improve it, many processes had to be done and the approval of the company was necessary. But now employees will be able to update personal details themselves.
Employees Provident Fund Organization recently issued a circular, in which the process of transferring PF account for employed people has been simplified when they change their jobs. Employees will not need verification of their old or new company to transfer their account. He will be able to get his account transferred by making the claim himself. Provided that their UAN is linked to Aadhaar and all the personal details of the members match.
EPFO has simplified the process of Joint Declaration on EPFO portal, allowing employees to submit the signature of the employer to correct the errors in name, date of birth, gender, nationality, father/mother's name, marital status, spouse's name. There will be no need.
EPFO has started the Centralized Pension Payment System (CPPS) in all its regional offices across the country, which will benefit more than 68 lakh pensioners. Under CPPS, any beneficiary will be able to withdraw pension from any bank and there will be no need to go to the bank for verification at the time of commencement of pension.
