Now you don’t have to transfer your PF; here’s what EPFO Board decision said

In a sweeping change for millions of PF account holders, the EPFO has approved a new system where employees will not need to transfer their PF account if they change jobs.

The EPFO Board of Trustees adopted a centralised IT system of PF account on Saturday (November 20) at its 229th meeting, allowing employees to avoid having their PF funds moved when they change jobs. Simply put, the centralised system is expected to merge various PF accounts of individuals and convert it into one.

The field functionalities will move on a central database in a phased manner enabling smoother operations and enhanced service delivery. The system will facilitate the de-duplication and merger of all PF accounts of any member.

After the development of the systems by the Centre for Development of Advanced Computing or C-DAC, an employee’s PF account number will remain the same if they change their jobs and they won’t have to worry about the account transfer.