EPFO modified these guidelines associated to PF, workers will profit – India TV Hindi

The brand new monetary 12 months has began. With this, many vital new guidelines come into drive. There may be one such rule which is linked to the PF account and on April 1, a brand new rule has been carried out by the Staff’ Provident Fund (EPFO). The implementation of this rule will immediately profit the staff.

In accordance with media experiences, below the brand new rule the PF account has been auto transferred. Which means now there will probably be no must switch the PF account to a brand new account on altering jobs. For instance, if you happen to change jobs, your PF account will probably be robotically transferred from April 1 onwards.

Earlier PF account needed to be merged.

Earlier, everytime you modified jobs, new PF accounts have been added to the UAN. After altering jobs, you needed to go to the EPFO ​​web site on-line and merge your EPF account. No, now you’ll not must merge or switch your PF account. This will probably be robotically transferred as quickly because the job is modified. Allow us to let you know, the worker has to contribute 12 p.c of the fundamental wage within the EPF account and the identical contribution can also be made by the employer. Via this account, pension is given to an worker in a while.

16.02 lakh members joined EPFO

In accordance with EPFO ​​payroll information, 16.02 lakh members had joined EPFO ​​in January 2024. This data was given by the Labor Ministry. Throughout this era, about 8.08 lakh new members had registered themselves in EPFO. The ministry stated the provisional payroll information of the Staff’ Provident Fund Group (EPFO) signifies a internet improve of 16.02 lakh members in January 2024.

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