EPFO to e-EPFO: No Need of Transfer of PF Account On Change of Job || Check Important Details of 229th meeting of CBT: For the last three years EPFO (Employees’ Provident Fund Organisation) has taking many efficient steps to make the EPFO and “e-EPFO”. As the result of these efforts, it has enabled to move towards digitally interacting paperless organization and enhancing ease of living for all its stakeholders. As the recent step towards this, the board has planned to remove the requirement of transfer of account on change of job.
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Recently, the 229th meeting of Central Board of Trustees (CBT), the main decision-making body of EPFO, was held on 20th November 2021. In the meeting, representatives from the employers, employees and senior officers of the Central Government, State government and EPFO were also present. On this meet, the board has taken some innovative decisions to take the board and its activities into the next level.
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One of the important key decisions were taken by Central Board, EPF is the approval of development of centralized IT-enabled systems by C-DAC. Once the C-DAC develops the centralized IT-enabled systems, the field functionalities will move on a central database in a phased manner. This will enable smoother operations and enhanced service delivery. The centralized system will help to reduce the duplication and help efficient merger of all PF accounts of any member. It will remove the requirement of transfer of account on change of job.
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This will reduce the hardship of the employees to chance their PF accounts at the time of changing of job. The board has a plan to constitute four sub-committees. In which, two committees on Establishment related matters and futuristic implementation of Social Security Code will be headed by the Minister of State Labour and Employment. The remaining two committees on Digital capacity building and Pension related issues will be headed by Union Labour and Employment Secretary. Stay connected for the further updates regarding this.
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