From September, your Provident Fund account will be transferred automatically when you change your job, as long as you have Aadhaar and another valid ID, Chief PF Commissioner VP Joy said, according to The Times of India. Joy said one of the government’s main challenges was that employees prematurely close their PF accounts instead of transferring them. He said the government was trying to change this by improving services.
Joy said a number of new initiatives by the Employees’ Provident Fund Organisation will help employees keep their PF account open permanently. “Whenever there is change of job, a lot of accounts are closed, then the employees restart their accounts,” he said, adding that since the government made Aadhaar compulsory for enrolment, workers can more easily retain the same account “for social security”.
He added that under the new scheme, an employee’s PF account can be transferred without any application, in three days.
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