New Delhi. Employees often face long and tedious processes to transfer money from their old PF account to the new account while changing jobs. Now this problem is going to end soon, because EPFO ​​(Employees’ Provident Fund Organization) has launched a new automatic transfer system, which will facilitate PF transfer in a completely automatic manner.

What changes will come from the new system?

1.Employer’s interference ends

Earlier the employee had to depend on the approval of the old employer. But under the new system, as soon as you join the new company, your old PF balance will be automatically transferred to the new account.

2. Form-13 is not required

Now there will be no need to fill any form or upload documents for PF transfer. Where earlier this process used to take months, it will now be completed in just 3 to 5 days.

3.No loss of interest

Earlier, due to delay in transfer, there used to be reduction or disturbance in interest. But with the automatic system, your money will continue to grow and the entire fund will be safe at retirement.

Benefits available to employees

Freedom from lengthy paper processes.

Saving time and reducing mental stress.

There is no hindrance in financial security despite changing jobs.

Full availability of funds along with interest at the time of retirement.