In a contemporary set of reforms to convey ease of operation to the Staff’ Provident Fund Organisation (EPFO), subscribers will now get all key companies and entry to their Staff’ Provident Fund account particulars utilizing a single login on the members’ portal, Union Labour Minister Mansukh Mandaviya stated on Thursday.
Mandaviya stated EPFO has launched a brand new facility known as ‘Passbook Lite’ inside its member portal (pls hyperlink: https://unifiedportal-mem.epfindia.gov.in/memberinterface/). This characteristic will allow members to simply verify their passbook and associated summarised view of the contributions, withdrawals and steadiness in a easy and handy format via the member portal itself with out having to go to the passbook portal, he stated.
“This initiative is anticipated to enhance person expertise by offering all key companies, together with passbook entry via one login. Nonetheless, for a complete view of passbook particulars, together with graphical show, members can proceed to entry the present Passbook Portal as properly,” the minister stated.
This strategy ensures larger ease of entry for members and enhances operational effectivity by decreasing the load on the Passbook Portal. The transfer simplifies the structure via integration of present APIs throughout the member portal, the labour ministry stated.
It added that EPFO has taken steps to cut back and rationalise the approval hierarchy. Powers that earlier rested with the RPFC/Officer-in-Cost have now been delegated to Assistant PF
Commissioners and subordinate ranges in a structured and tiered method. The scope of this reform will embody PF transfers and settlements, advances and previous accumulations, refunds, cheque/ECS/NEFT returns, and curiosity changes.
The ministry stated that that is anticipated to enhance the velocity of declare settlements and slash processing time.
The EPFO had earlier this 12 months elevated the restrict for auto settlement of claims to Rs 5 lakh from Rs 1 lakh. Within the monetary 12 months 2024-25, the EPFO had processed a file 2.34 crore advance claims via auto-settlement, a 161 per cent improve in comparison with 89.52 lakh claims within the monetary 12 months 2023-24.
© The Indian Specific Pvt Ltd