New Delhi: Allowing EPFO subscribers to update exit date online after changing jobs, the Employees’ Provident Fund Organisation has now launched ‘date of exit’ facility on the EPFO portal. Note that earlier, EPF account holders were dependent on their ex-employers to declare the date of exit since the facility was not available online.
However, EPFO subscribers can now easily update exit date online after changing jobs. “Now employees can also update their date of exit,” EPFO announced on Twitter today.
Here is how you can update your date of exit on EPFO portal:
1. Log in to the EPFO portal with your UAN (Universal Account Number) and password.
2. Go to “Manage” section and click on “Mark Exit”.
3. Choose your PF account number from the “select employment” dropdown menu.
4. Fill in the date of exit and the reason of exit.
5. Click on option “Request OTP” and enter OTP sent on your Aadhaar-linked mobile number.
6. Select the checkbox and then click on “Update” and then “Ok”.
You will then get a message stating that the date of exit has been updated successfully. Once it is done, you can go to “View” and “Service History” where you will be shown the date of joining and exit from both EPF and EPS. Note that you cannot mark your date of exit before two months of leaving the company.
Earlier, several EPF subscribers had complained that their previous employers are not co-operating in declaring the date of exit on EPFO portal, so this facility will be beneficial for them.
It is worth mentioning that marking your date of exit is important since it might affect claim submissions, transfers and settlements later on. After switching jobs, if your date of exit is not marked correctly, your employment might not be treated as continuous and you might be asked to pay a tax on the interest earned during the intervening period.
If an employee exits a company and the previous employer didn’t put the date of exit from the previous EPF Account, the PF account can’t be transferred as according to rules unless an employee exits an EPF account, they can neither transfer the balance to another EPF account nor withdraw the full amount. Moreover, with the contribution stopped, the employee is no longer a continued member for that EPF account and hence is not eligible for partial withdrawal.