Have you recently changed job and withdrawn from the old Provident Fund (PF) account of Employees Provident Fund Organization (EPFO)? If you still haven’t transferred the account to the new employer, it should be a priority. If your new firm opens a new PF account, you could face huge loss. Your pension and other retirement benefits may be jeopardised.

Only if an EPFO subscriber has been a member of EPS 95 for ten years will he or she be eligible for a pension. If your old PF account is still active after 10 years, you will be eligible for the Employee Pension Scheme (EPS). As a result, you must notify your new employer of your job change in your PF account. This update can be executed using the UMANG app, or it can be done with the assistance of your company.

The most vital factor is that the new employer’s details must also be updated in the EPF Scheme Certificate. EPFO has developed a method for this on their website. The employer can update the relevant information this way. To do so, speak with your company’s human resources department. Nowadays, most businesses have a PF Helpdesk, which can assist you with this task.

What is scheme certificate

EPF Scheme Certificates are provided to members who have withdrawn their EPF contributions but wish to remain a member of EPFO till retirement in order to receive pension benefits. Only if a person has been a member of the Employees’ Pension Scheme, 1995 for at least 10 years is s/he entitled for a pension.

When you start a new job, the Scheme Certificate ensures that your previous pensionable service is added to the new employer’s pensionable service, enhancing your pension benefits.

How to Download Scheme Certificate

The UMANG App can be used to apply for a Scheme Certificate. To use the UMANG App, you must have an active Universal Account Number (UAN) and an EPFO-registered mobile number. You can get the scheme certificate by doing so.

The post Switched job recently? Don’t forget to update PF account to enjoy retirement benefits, here’s how to do it appeared first on APN News.