EPFO’s New Portal: New portal will start soon, it will be easy to withdraw money from old PF account, know details…

Business Desk – EPFO’s New Portal: Employees’ Provident Fund Organization (EPFO) is soon going to launch a special portal, which will help you find your old PF accounts and reactivate them. Throughout their career, people often change jobs several times.

As a result, some Provident Fund (PF) money remains deposited in old or closed accounts. Such money which people often either forget or which is difficult for them to withdraw. Now, a new portal named ‘E-PRAAPTI’ is being launched especially for the benefit of lakhs of such employees. Let us get complete information about it.

A new portal for old PF accounts

Union Labor Minister Mansukh Mandaviya has recently announced a new portal named ‘E-PRAAPTI’. This portal is being created especially for those people whose PF accounts have become old, are closed, or have not been claimed by anyone.

PF money often gets stuck due to many reasons. Such as change of job, closure of the company, or lack of link to the Universal Account Number (UAN). Through this new system, employees will now be able to track such accounts easily. Will be able to reach them.

How will E-PRAAPTI portal work?

E-PRAAPTI whose full name is ‘Employee Provident Fund Aadhaar-Based Access Portal for Tracking Inoperative Accounts’. Will serve as a platform that is designed to ease access to PF accounts. With the help of this portal, employees will be able to find their old PF accounts without any heavy paperwork. A special feature of this initiative is that Aadhaar-based verification will be used in it, which will make the entire process even easier.

Initially, this portal will work using ‘Member IDs’, so that this system can be implemented in a secure manner. In future, it can also help those people who do not remember the specific details of their old PF accounts. This initiative is not just limited to launching a new portal; Rather, it is an important part of the larger digital transformation taking place in the PF system. Recent data shows that PF claims are now being settled faster than before.

Most advance claims are being processed within a few days. A large number of claims are being settled automatically. Earlier, the biggest hurdles in the processes related to PF were heavy paperwork and dependence on the company or HR department, but now this situation is changing rapidly. People can file claims without uploading any physical cheque. You can link your bank accounts. You can even make changes in your profile yourself. With this, employees are getting more control over their money.