New Delhi : Employees covered under private PF trusts, which manage retirement fund of their workers themselves, will be able to transfer their PF accounts online from next month, reports PTI.
There are about 2,750 private Provident Fund (PF) trusts which themself manage the account of their workers. The information services wing of the Employees’ Provident Fund Organisation (EPFO) is working on such mechanism to enable transfer of PF accounts from a private PF trust to an unexempted firm and vice-versa. The facility could be launched in four to six weeks. This was revealed by the head of the information services wing to the Central Provident Fund Commissioner (CPFC) K K Jalan in a meeting of zonal commissioners earlier this month.
“CPFC also directed that mechanism be worked out to extend online transfer claim portal (OTCP) to handle transfer of claims from un-exempt to exempt establishments (PF trust) and vice versa. Additional Central Commissioner(Information Services) informed CPFC that Information Services Division is working on the same and it shall be launched within 4 to 6 weeks,” states minutes of the meeting of zonal commissioners.
The online transfer of PF claims facility has been made available after the EPFO launched its online transfer claim portal (OTCP) on October 2, this year.
