Retirement fund manager EPFO on Friday launched a facility to enable its over 5 crore subscribers to view updated accounts online on real time basis without waiting for their annual PF account slips.
Besides this, the Employees Provident Fund Organisation (EPFO) has also announced it would put in place the facility for online PF account transfer claims on changing jobs next month.
The facility will help people to view accounts online who earlier had to wait for long time to know about their account details. Besides it would help in settling various claims well in time.
The facility would enable the EPFO to update accounts on real time basis.
As per the practice, EPFO is supposed to provide annual PF account slips for its subscribers by September 30. For instance for 2012-13, it is required to provide account slips by September 30, 2013. However, the deadline is often being missed.
EPFO is expecting around 13 lakh transfer claims this fiscal. Every year, the body receives about 1.2 crore claims, including transfer, pension and withdrawal of Provident Fund.