Millennium Post

Online transfer: EPFO starts taking digital signatures

To facilitate online transfer of PF accounts of employees on changing jobs, retirement fund manager EPFO has started the process of registering digital signatures of employers which is a prerequisite. According to an official circular issued on Friday, Employees' Provident Fund Organisation (EPFO) has directed its over 120 field offices to depute a nodal officer to facilitate the process of registering digital signatures of the firms.

The facility to upload digital signatures to employers would be available on Online Transfer Claim Portal (OTCP) through the Employees’ Provident Fund Organisation official website

According to the Employees’ Provident Fund Organisation, the success of online transfer of PF accounts would depend on how many employers register their digital signatures as it is a prerequisite for authentication of the transfer claim.Taking the first step towards launch of online PF transfer claim facilities, EPFO had earlier this month unveiled the revised transfer claim form for the purpose.

EPFO is likely to start the online PF transfer claim facility by the end of the next month. With this, a subscriber of the EPF scheme would be able to apply online for transfer of PF accounts through his new employer.

The revised 'Transfer Claim Form' can be presented after verification, either through the present employer or the previous employer. Earlier, the form could be submitted after verification only through 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, out of which 88 per cent of claims were processed within the prescribed 30 days as per the body's citizen charter.
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