Employee's provident fund organisation (EPFO) has started registering digital signatures of employers, a prerequisite for providing this facility.
Online transfer of PF accounts on changing jobs will soon be a reality as retirement fund manager EPFO has started registering digital signatures of employers, a prerequisite for providing the facility.
The facility of uploading digital signatures will be available on the Online Transfer Claim Portal through the EPFO website, www.epfindia.gov.in .
Taking the first step towards launching online PF transfer claim facilities, EPFO had earlier this month, unveiled a revised claim form for the purpose.
The revised transfer claim form can be presented after verification by the present employer or the previous employer. Previously, the form could be submitted only after verification by the present employer. EPFO has set up a central clearance house to enable subscribers to apply online for PF withdrawal and transfer claim settlements.
During 2012-13, 107.62 lakh claims were settled, of which 88 percent were processed within 30 days, as prescribed by the body's citizen charter.
EPFO expects 1.2 crore claims in 2013-14, including around 13 lakh PF transfer claims. It plans online settlements of about 10 lakh transfer claims of tech-savy applicants from industries such as IT this fiscal.
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