EPFO to start online service for transfer claims in Aug

Retirement fund body Employees’ Provident Fund Organisation (EPFO) is likely to start online transfer of PF accounts on changing jobs by this Independence Day on August 15, a move that would benefit over 13 lakh such applicants every year.

The EPFO has started registering digital signatures of employers from Thursday which is a prerequisite for providing the facility and is expecting an overwhelming response from employers.

According to sources, the EPFO is hopeful that a sizable number of firms would get their digital signatures registered in the next two weeks and the body can then launch the service. The source said that the body is planning the launch of service to coincide with Independence day, which would be followed by an awareness campaign.

He said that the EPFO is expecting establishments which constitute 80 per cent of the transfer claims from sectors like IT, to register their digital signature in next 2 weeks.

It would be very easy for these firms as they are already maintaining digital signatures for compliance like for Ministry of Corporate Affairs.