Transferring Employee Provident Fund (EPF) to the present organization is one of the time taking task in the current process. In the current scenario, if one wants to transfer the EPF to his current organization, then he has to submit the Form 13 through his current employer. Then previous employer receives the document and process for the transfer of money to the new organization. This form 13 submission is physical document sent through the post and it involves lot of manual work which is taking minimum of 30 days to get the transferred amount. The EPF site which says it is 30 days, but in reality it is taking more than 30 days and up to 3 months also for some case. Please join us in the face book fans page to write your comments.
- Also Read : Complete Guide on EPF Details
Transfer Claim Form
- A new form will be introduced to replace the existing Form 13 document. This new form is called as “Transfer Claim Form“. It is an online solution where employers and employees can submit the form through the web site. Also this form can be submitted as a physical copy.
- EPFO is developing a web based solution for the companies to submit the online forms. Companies has to get the digital signature to submit the online claims.
- This solution is not applicable for the withdrawal of money (at least from the current announcement), only for the companies to raise the transfer request.
- Transfer Claim Form can be submitted by the current employer or the previous employer. In the current scenario, Form 13 is submitted by present employer to previous employer. Present employer can not directly submit the forms to EPF Office.
- It is expected that, after the launch of this solution, the transfer would happen with in few days say 2-3 days. But, we have to wait and see once this online form is launched.
- Employee can not independently submit this form, employee has to use digital signature from employer and submit the forms. Then employer verifies the details and approve the transfer form.
- Employee will be informed through SMS and e-mail about the status of each stage till the transfer is complete.
- Another advantage of this online solution is there is no paper work involved at any stage, it is purely a paper less work.
- It is announced by Union Government on 4th July, 2013. It is expected that it will be launched from August 2013.
- You can read the original announcement here.
If you have any questions or thoughts, please write it in the comments. I will update with more details once the form is launched online.
Please join us in the face book fans page to write your comments.