EPFO Revamps Form 13 For Employees To Simplify Job Switch; Here’s How It Will Impact 1.25 Crore Members

The Employees' Provident Fund Organisation (EPFO) has recently revamped form 13 for employees for smooth transition in employment. The new changes are likely to simplify the transfer process of PF account at the time of job change and separate taxable and non-taxable components of PF accumulations.

Revised Form 13 also includes multiple features including those incorporated in revamped Form 19. Here are all the details EPFO members must know, especially those who are switching jobs.

What is Form 13?

As per the EPFO website, Form 13 is submitted at the time of transition of employment. The form is submitted to the PF Office for transferring the service details of the employee under the Pension Fund to the new account.

What is Form 19?

EPFO Form 19 is also one of the key documents of employees who are changing their jobs. EPFO's Form 19 is the official form which is required for the final settlement of an employee's provident fund account at the time of job change or retirement.

What Are The Key Changes Made in Revamped Form 13?

-All the information of the EPFO member and necessary documents will now be made available at a single place for easy verification at the time of opening EPFO Form 13 claim. As per the changes made in the form key details related to the employee like KYC (Transferor & Transferee office), the available balances, contributions, VDRs/ Transfer-ins, withdrawals and interest calculation / Worksheet as regards taxable and non-taxable components of contributions etc. are made available at one place.

-Now EPFO will also provide comparison of KYCs linked to both member IDs of the employers (in case of Transfer-out to an Un-exempted establishments).

-The form will also have 'annexure-K' where taxable and non-taxable details are provided.

-In a bid to boost security measures, unique transaction ID is generated and utilised during the course of settlement.

-To expedite the process of transition of EPFO account at the time of job change, all the information of the approved amount (in case of transfer-out to an unexempted establishment), along with taxable and non-taxable components, would be immediately provided to the new office (ie transferee office).

-EPFO has also stopped the three level processing at the new office. Consequentially, the PF accumulation and Pension Service of the member will automatically added to the present account at destination office (new employer). The process is initiated only after the transfer claim gets approved from the previous employer.

EPFO Revamps Form 13: How Will It Benefit Members?

The revised process likely to expedite the process related to claims, boost efficiency in the field offices and also lead to faster claim settlement for EPFO members. The revised norms and updates are likely to benefit nearly 1.25 crore of employees.

Bulk Generation of UANs

Apart from introducing revamped Form 13, EPFO has also brought a new facility for bulk generation of Universal Account Numbers (UANs) by employers. The facility will work even in the absence of Aadhaar seeding.

The new software, which is likely to be implemented across field offices will let the creation of UANs using existing member data. The development is likely to simplify validations and facilitate the settlement of claims. The process can be initiated without Aadhaar seeding. However, EPFO has made it clear that these UANs generated without Aadhaar will be kept in frozen state until the completion of Aadhaar seeding.