Re: PF KNOWELDGE IN BRIEF
a recent Article was published in Indian Express on PF: Tue, Nov 2 06:29 AM Soon, transferring provident fund money from one employer to another could be as easy as switching jobs itself. The country's largest retirement fund manager, the Employees' Provident Fund Organisation, is set to start electronic transfers of PF accounts, which will drastically cut the time and paperwork currently required.
The new software — expected to be rolled out by December-end or early January — will allow regional PF offices to communicate electronically to transfer details of employees' accounts and funds. The Central Board of Trustees of the EPFO has decided to stop paying interest on inoperative accounts from April 2011. The EPFO expects about half of these accounts to be closed as a consequence, with subscribers either withdrawing their PF money or transferring it to new accounts.
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