Latest News
-
25% Dividend Record Date: Logistic Stock Nears 1-Year High And It Belongs To Mahindra; Motilal Neutral -
1:10 Split, 26 Dividends: Tata's 26-Year-Old Retail Stock In Focus, Q4, Dividend Ahead; Buy For Target Rs 4200 -
1:5 Split Soon: Rs 2,300 Defence Stock To Split Into Five Shares, Rs 400 Cr Fundraising Too; Hits 52-Week High -
Penny Stock Bags Back-To-Back Orders Worth Rs 500 Mn, 110 Mn; Shares Hit Upper Circuit -
Marshall Wace Offloads Stakes in 21 Indian Companies for Rs 2,365 Crore -
Rishi Sunak Announces Generational Hike in UK Defence Spending -
Dr Reddy's Issues Recall for Six Drug Lots in US Over Subpotency Concerns -
Dr Reddy's Voluntarily Recalls Six Drug Lots in US Over Potency Concerns -
IRCON, RITES: 2 Multibagger Navratna Railway Stocks Potential To 17-24% Upside Ahead; Assigned BUY Rating -
AU Small Finance Bank Unveils New Products Including Rupay Credit Card
How To Transfer EPF Balance From Past to New Employer Online?
Soon the hassle involved in making the claim for online or offline transfer of EPF balance to new employer shall be done away with as it shall be automated by the EPFO body.
As per a leading business daily report, the retirement fund body, EPFO is likely to begin with the process of automatic transfer of PF amount on job change this September. The process shall do away with the otherwise cumbersome process of filling number of forms and may take just three days time.
Mostly when it comes to EPF money transfer along with interest payment to new company account upon job change, individuals contributing to PF account while in service due to the hassle involved prefer to withdraw the amount instead of transferring. As a result the sole purpose for which the account i.e retirement corpus creation gets defeated. Nonetheless, to counter the issue, EPFO shall likely begin with the automatic transfer facility this month.
To transfer EPF account balance from past employer to new employer
For the transfer to effect online, you need to visit the EPFO website. Eligibility for the transfer to happen on an online basis can be checked on the same portal. For it you need to provide your old as well as new PF account details. Further, you can check the transfer claim status online on the EPFO portal.
But soon only sometime from now, the process shall be a automated one and the credits into the account of the new employer shall be made within 3 working days.
Goodreturns.in
