BIG EPFO Update: Now employees can make this change in their EPF accounts too—check out steps listed by retirement fund body
EPFO latest news: The development holds significance as many employees in the past have complained that their former employer was not co-operating or updating exit date, leaving Employees’ Provident Fund Organisation subscribers harried.
In a big relief to the employees, the EPFO has allowed its subscribers to update exit dates online on their own when they switch jobs. The development holds significance as many employees in the past have complained that their former employer was not co-operating or updating exit date, leaving Employees’ Provident Fund Organisation subscribers harried. Earlier, an EPF account holder had to wait for their former employers to update the date.
See Zee Business Live TV Streaming Below:
As per EPFO, subscribers not having exit date on the EPFO cannot withdraw money from their EPF accounts or transfer the account from previous employer to new one. Meanwhile, giving direct access to employees, the retirement fund body has made the process simpler as it can be done by the EPFO subscribers from the comfort of their home. The retirement fund body has also guided in certain steps how you can make the required change in your EPF account.
EPFO exit date: How to update
Step 1 Go to to the EPFO portal www.epfindia.gov.in using your Universal Account Number (UAN) and password.
Step 2: Go to Manage and Click 'Mark Exit'. Choose PF account number from 'Select Employment' dropdown
Step 3: Enter date of exit and reason of exit
Step 4: Click request OTP and enter OTP sent on Aadhaar-linked mobile number. Then select the checkbox
Step 5 Click update and the click Ok.
As you click on the 'Ok' tab, your date of exit will be updated successfully.
Note that the date of exit cannot be marked till two months of leaving the company.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
Retirement Planning: In how many years your Rs 25K monthly SIP investment will grow to Rs 8.8 cr | See calculations
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
SBI 5-Year FD vs MIS: Which can offer higher returns on a Rs 2,00,000 investment over 5 years? See calculations
05:57 PM IST