The Employees’ Provident Fund Organization (EPFO) on Thursday launched three new facilities for its members. The aim of these reforms is to increase transparency and make services faster. These include ‘Passbook Lite’ facility, online access to ‘Annexure K’ and faster claim settlement process.
Till now, EPFO members had to login to a separate passbook portal to know their provident fund (PF) contributions, withdrawals or balance. This dual login system often caused delays and hassles. But under the new ‘Passbook Lite’ feature, members can now easily view their PF account information, contributions, withdrawals and balance details without visiting a separate portal.
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However, if the member requires detailed information or graphical display of his account, he can use the existing passbook portal. Union Labor and Employment Minister Dr. Mansukh Mandaviya said, ‘The aim of these reforms is to provide all core services from a single login. This will reduce complaints, increase transparency and improve the satisfaction level of members.
What is Annexure ‘K’?
EPFO has started the facility to make ‘Annexure K’ (Transfer Certificate) available online. Earlier, when an employee changed jobs, his PF account was transferred to the PF office of the new employer through Form 13. But it was shared only among the PF offices of the Annexure and was available to members only on request.
Now, members can download ‘Annexure K’ in PDF format from the member portal of EPFO. This allows them to check their PF transfer and ensure that their balance and service period is correctly updated in the new account.
Settlement of claims will now be faster
The biggest complaint of EPFO members was that the settlement of claims is slow. To solve this problem, EPFO has simplified the claims approval process. Some of the powers earlier held by senior officers have now been given to Assistant PF Commissioners and subordinate staff.
This reform will result in faster settlement of claims like PF transfer, settlement, advance, refund, cheque/ECS/NEFT return and interest adjustment. Its advantages are as follows:
– Claims will be settled quickly and the process will take less time.
– The approval process will be easy.
– Accountability will increase in field offices.
– Faster and smoother services will improve transparency and member satisfaction.
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These reforms will bring great relief to lakhs of EPFO members and will further improve their convenience.
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