Apurva Chandra, IAS, Secretary (Labour & Employment) launched a new facility of bulk transfer of funds and data from exempted trusts to EPFO through a single payment, during his first visit to EPFO headquarters, on 7th October, 2020. This will enhance ease of doing business by increasing the speed of funds transfer for exempted establishments.
EPFO has now released the functionality for bulk transfer of funds from exempted establishments to EPFO through a single payment. Exempted establishments are those establishments which have been granted exemption under Section 17 of EPF & MP Act, 1952 and manage the provident fund of members themselves under over all supervision of EPFO. On change of employment for a member from exempted to unexempted establishment, his past accumulations are transferred to EPFO.