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EPFO i.e. Employees Provident Fund Organization has made changes in its circular. EPFO has made 4 major changes to help PF holders. These include rules like making PF account transfer easier and updating KYC. Let us tell you about those four changes made by EPFO.

Updating personal details

EPFO has made it very easy for PF holders to update personal details. Many times, while opening an account, employees' personal information like date of birth, and date of birth was filled incorrectly. To correct it, many processes had to be done and company approval was necessary. But now employees will be able to update their details themselves.

PF account transfer

The Employees Provident Fund Organization recently issued a circular, in which the process of transferring PF accounts has been simplified for employed people when they change their jobs. Employees will not need verification of their old or new company to transfer the account. They will be able to transfer their account by claiming themselves. Provided their UAN is linked to Aadhaar and all the personal details of the members match.

Joint Declaration Simplification

EPFO has simplified the process of a joint declaration on the EPFO portal so that employees will not need the signature of the employer to correct mistakes in name, date of birth, gender, nationality, father/mother's name, marital status, husband/wife's name.

CPPS System

EPFO has started a Centralized Pension Payment System (CPPS) in all its regional offices across the country, which will benefit more than 68 lakh pensioners. Under CPPS, any beneficiary will be able to withdraw a pension from any bank and there will be no need to go to the bank for verification at the time of starting the pension.

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