EPF account holders can now change exit date on portal; here is all you need to know about online updation

Employees are no longer required to wait for their former employers' to update the date of exit on the portal. The Employees' Provident Fund Organisation (EPFO) has launched 'date of exit' facility on the EPF portal.

Now Employee's can also update their Date of exit.#EPFO pic.twitter.com/IIZYC0Onja

— EPFO (@socialepfo) January 21, 2020

Earlier, the employees' provident fund (EPF) subscribers had to depend on their former employers to declare the date of exit as the facility was not available online to EPF account holders.

Representational image. PTI

Here is how an EPF subscriber can update date of exit details:

1. An account holder can log in to the EPFO portal using 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 for 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".

7. The account holder will get a message informing that the date of exit has been updated successfully. Once it is done you can go to "View" and "Service History" where the subscriber will be shown the date of joining and exit from both EPF and EPS.

The PF subscriber cannot mark his or her date of exit two months before leaving the company.

Several employees in the past had complained that their former employers were not declaring the date of exit on the EPFO portal.

Marking the date of exit is important since it may affect claim submissions, transfers and settlements later on. After switching jobs, if the date of exit is not marked correctly, the job may not be treated as continuous and the employee may be asked to pay a tax on the interest earned during the intervening period.