Over 50 million subscribers of the retirement fund body Employees' Provident Fund Organisation (EPFO) can obtain e-passbook along with details of their updated accounts online.
Over 50 million subscribers of the retirement fund body Employees' Provident Fund Organisation (EPFO) can obtain e-passbook along with details of their updated accounts online from Wednesday.
"The EPFO subscribers can get their statement of accounts online from today," Central Provident Fund Commissioner R C Mishra said while addressing a seminar on Employees' Provident Fund Act by the PHDCCI.
In order to avail this facility, the active subscribers would have to register themselves on the EPFO portal by furnishing their account details.
The facility to obtain e-passbook will be available only for active members of the EPFO and would not be extended to those whose accounts are inoperative, settled or have negative balance.
The members of exempted provident fund trusts regulated by the EPFO, too will too not be entitled for this facility through its portal.
The e-passbook will also have additional information like name, date of birth and account number.
Mishra also informed that the EPFO is in the process of introducing the facility of online settlement of provident fund claims in a couple of months.
At present, the subscribers who are either superannuated or applied for withdrawals, can apply only manually and is time consuming.
As per the EPFO citizen charter, such claims should be settled within a month, though it takes longer than that.
Mishra said in order to provide the facility of online application of claims, EPFO would require a central database. At present, all regional EPFO offices maintain their database separately.
"These works including fund transfers, settlement of PF accounts and withdrawals constitute over 80 per cent of our work," he said, adding online claim settlement will save time and improve efficiency.