A great news from Employees’ Provident Fund Organization (EPFO) on online application of withdrawals or transfer of their Provident Finds (PF) .Now in India over 50 million subscribers of EPFO can apply online for transferring or withdrawing of their provident fund from 1st July’2013 onwards. Such type of initiative have been taken from EPFO for helping all subscribers . Previously employees have to apply offline for settlement or transfer of provident fund and also there was no tracking system .Now after this system employees can track their application easily through online .
As per EPFO commissioner Mr Anil Swarup EPFO has decided to set up a cell for the above work which will likely to start from July 1st. According to him previously the main problem was transferring of PF account at the time of transferring their job.Now to overcome this problem EPFO thinks to giving a unique account number to individual for easy transfer of PF account at time of changing job.This will take around 8-10 months to start such facility.
After this new system, the responsibility of getting verification from their employer will be on employees.