look news india
Often, when people working in the private sector change jobs, they forget to transfer the EPF account of the old company. With the passage of time, neither the old account number is remembered nor its information is available. The biggest problem is faced by those employees who by mistake create more than one Universal Account Number (UAN), whereas according to the rules, a person should have only one UAN.
If this has happened to you too, then there is no need to worry now. Employees Provident Fund Organization (EPFO) has found an easy solution to this big problem of employees.
What is the new initiative of EPFO?
EPFO has introduced a new and secure digital portal is introduced. With the help of this portal, any employee can easily track his old or inactive EPF account.
Through this portal you can not only find your old account, but also:
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You can transfer the money deposited in the old account to your existing active PF account.
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You can directly apply online for settlement (withdrawal) of your stuck money.
Official information received in Lok Sabha
Union Minister of State for Labor and Employment in response to a question in the Lok Sabha on July 27 Shobha Karandlaje Gave information about this new system. He said that this new digital platform has been designed keeping in mind the convenience of the employees, so that they can easily track their old accounts.
Main point: With the advent of the new portal, the process of transferring old PF has become faster, easier and transparent than ever before.
Main benefits of this new feature
1. Complete ‘service history’ will be visible at one place
To use this new system Aadhaar Verification It will be necessary. If your old PF accounts are linked to Aadhaar, then as soon as you login, details of all your previous jobs and service history will appear on the screen simultaneously. This will also make it clear whether your old accounts have been merged under the same UAN or not.
2. End of physical documentation
Earlier, to find old accounts or get them transferred, one had to visit companies and fill a lot of forms. With the launch of the new portal:
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Human interference will be significantly reduced.
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There will be no need to submit any kind of physical documents.
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Time will be saved as the entire work is done online.
3. Easy access to money
The online facility to transfer the balance of the old account to the new account was available earlier also, but this new dedicated portal has made this process very simple. Now your hard-earned money will come directly into your existing PF account without any hassle.