Automatic PF Account Transfer
From next month, your Provident Fund (PF) account will be transferred automatically when you change your job, chief provident fund commissioner V P Joy said.
The facility to automatically transfer accounts will result in employees continuing their contribution till they retire in stead of opening a new account without transferring the funds.
“One of the main challenges is the number of premature closure of accounts. Whenever there is change of job, a lot of accounts are closed, then they restart their account later on,“ he added. “Now, we have made Aadhaar compulsory for enrolment. We don't want accounts to be closed. The PF account is the permanent account. more