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Sunday, November 10, 2013

Welcome to online EPFO : Balance, Transfer, Claim, e-Passbook

I have experienced, as many of you would have, the painful months / years it used to take to move our EPF (Employee Provident Fund) account balance from one company to other, while keeping our fingers crossed during this long journey of money transfer. The complex forms, unsure claim settlement, a balance statement which was delayed by at least 2 years - all these are things of the past !! 
Welcome to the all new, fast, reliable, dynamic online EPFO.


What is EPFO?
The Employees' Provident Fund Organisation, abbreviated to EPFO, is a statutory body of the Government of India under the Ministry of Labour and Employment. It administers a compulsory contributory Provident Fund Scheme, Pension Scheme and an Insurance Scheme. It is one of the largest social security organisations in the India in terms of the number of covered beneficiaries and the volume of financial transactions undertaken

Website

Online Transfer
If you are worried about transferring your Employee Provident Fund (EPF) account after a job change, the implementation of online transfer of EPF accounts has come as a relief. Earlier, it used to take one to two years for the EPF account transfer to take place (filling and submitting Form 13). But with the start of the online transfer system, the entire process should happen within three days time.
In the online transfer system, PF subscribers need to visit the website www.epfindia.com and click on ‘Online Transfer Claim Portal’ (OTCP) and follow the process. For this, it is important that the digital signatures of these employers are registered with EPFO to verify claim papers online. The EPFO had started registering digital signatures of companies from July this year.

Check your account balance
Gone are the days when we used to wait for the annual account statement slip from EPFO to find out the current balance in our own PF account.
For this, click on "Know Your EPF Balance" on the website www.epfindia.com and follow the steps (enter the PF Office, and your PF Account Number) and get the latest balance details on your mobile number.

Check your Claim Status
If you have applied for a PF claim, gone are the hassles of visiting the PF Office to find out the status of your refund. Everything is now available online. For this, click on "Know Your Claim Status" on the website www.epfindia.com and follow the steps as listed on the portal (select State, PF Office, PF Account Number) and get to know the real time status of your EPF claim.

Download your ePassbook
E-Passbook is the employee Provident Fund status book (PDF). Employee can check own PF status. For this, you need to register as a member of the Member Portal. 

Who can register?
Any member of the EPFO (if you have a EPFO Account through your company) can register for the member portal. Details of PF Account are not required at the time of registration.
Other important aspects of an online EPFO registration:

  • Only a registered member can download his / her passbook
  • Any chosen document such as PAN, Passport No. etc will be considered the username and the mobile number will be the password.
  • Facility to edit the mobile number is provided on the portal
Cheers


Manoj Arora
Lead a Financially Free Life !!

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