<p> Employees Provident Fund Organisation (EPFO) Friday went online, enabling its more than five crore subscribers to access their accounts on real time basis.<br /><br /></p>.<p>It also announced that online transfer of PF accounts on switching jobs would become functional next month.<br /><br />Labour Minister Sis Ram Ola launched the online transactions in the presence of Minister of State for Labour and Employment Kodikunnil Suresh and EPFO’s Central Provident Fund Commissioner K K Jalan. <br /><br />Software released<br /><br />The software for updating the provident fund accounts in batches was also released.<br />“The online facility will help prompt settlement of claims,” Ola told reporters.<br /><br />“Now, the EPFO would be able to provide annual account statement online by April or May with interest credits,” said Jalan.<br /><br />Before going online, EPFO was required to provide annual PF account statement by September 30 for the preceding financial year, but often missed the deadline.<br /><br />EPFO expects around 13 lakh transfer claims this fiscal. Every year, it receives about 1.2 crore claims, including transfer, pension and withdrawal of Provident Fund.<br />Jalan also said that the institution will make efforts to settle all types of claims in less than three days as against the present 30-day deadline.</p>
<p> Employees Provident Fund Organisation (EPFO) Friday went online, enabling its more than five crore subscribers to access their accounts on real time basis.<br /><br /></p>.<p>It also announced that online transfer of PF accounts on switching jobs would become functional next month.<br /><br />Labour Minister Sis Ram Ola launched the online transactions in the presence of Minister of State for Labour and Employment Kodikunnil Suresh and EPFO’s Central Provident Fund Commissioner K K Jalan. <br /><br />Software released<br /><br />The software for updating the provident fund accounts in batches was also released.<br />“The online facility will help prompt settlement of claims,” Ola told reporters.<br /><br />“Now, the EPFO would be able to provide annual account statement online by April or May with interest credits,” said Jalan.<br /><br />Before going online, EPFO was required to provide annual PF account statement by September 30 for the preceding financial year, but often missed the deadline.<br /><br />EPFO expects around 13 lakh transfer claims this fiscal. Every year, it receives about 1.2 crore claims, including transfer, pension and withdrawal of Provident Fund.<br />Jalan also said that the institution will make efforts to settle all types of claims in less than three days as against the present 30-day deadline.</p>
