Retirement fund body EPFO is all set to launch an online facility for transfer of Provident Fund (PF) accounts for organised sector workers covered under private PF trusts.

"The EPFO has planned to launch the facility of online transfer of PF account from private PF trusts to un-exempted firms which are filing PF returns and vice-versa, this month," a Labour Ministry official said.

At present this facility is available to workers of (un-exempted) firms which do not have their PF trusts and manage their employees' accounts with their respective regional fund commissioners of the EPFO. It was launched in October last year.

According the official, the EPFO has developed a mechanism by which PF accounts can be transferred online from an un-exempted firm to exempted organisation (PPFT).

There were certain technical issues for online transferring of PF accounts on changing jobs from a PPFT to an un-exempted firm.

Now since the EPFO has almost completed the work on the mechanism to enable transfer of PF accounts from a private PF trust to an un-exempted firm and vice-versa, the facility could be launched anytime this month, the official added.

The facility of online transfer of provident fund accounts is aimed at reducing the work load of the body substantially as over 13 lakh applicants file such claims every year.