To ensure speedy settlement of
claims, EPFO has decided to set up a central clearance house which will be
operational on 1st July 2013. This will enable subscribers to apply online for settlement
of the withdrawal and transfer of funds claims.
Over 50 million subscribers of the ‘Employees Provident Fund
Organisation’ (EPFO) will be able to apply online for transfer and withdrawal
of their provident fund. Normally the biggest problem faced by the subscribers
is transferring their accounts while changing of job etc. Now this central
clearance facility will expedite the process. The facility will enable
subscribes to track online the status of their applications for transfer and withdrawals.
Under the new online system for
transfer and withdrawal claims, the onus of verifying the details of the PF
account from previous employers would be on the EPFO. Currently, employees have
to get their applications verified from their employers for settlement of
claims.
No comments:
Post a Comment