EPFO PF Transfer – The new financial year has started and there have been major changes in many rules from April 1. With this, a big update has come out for EPFO employees. Actually EPFO has changed the rules related to PF account. Let us know in the news below-
Earlier PF account had to be merged.
Earlier, whenever you changed jobs, new PF accounts were added to the UAN. After changing jobs, you had to go to the online EPFO website and merge your EPF account. No, now you will not need to merge or transfer your PF (FD) account. This will be automatically transferred as soon as the job is changed. Let us tell you, the employee has to contribute 12 percent of the basic salary in the PF account and the same contribution is also made by the employer. Through this account, pension is given to an employee later on.
16.02 lakh members joined EPFO
According to EPFO payroll data, 16.02 lakh members joined EPFO in January 2024. This information was given by the Labor Ministry. During this period, about 8.08 lakh new members had registered themselves in EPFO. The ministry said the provisional payroll data of the Employees’ Provident Fund Organization (EPFO) indicates a net increase of 16.02 lakh members in January 2024.
Income Tax : Do not do these 5 transactions even by mistake, income tax notice will come.
