Simplified EPFO Processes for Subscribers: Key Highlights
The Employees’ Provident Fund Organisation (EPFO) has introduced simplified EPFO processes for fund transfers and personal detail corrections, benefiting its 7.6 crore subscribers. These changes aim to reduce delays and enhance user convenience by eliminating redundant approvals.
Key Updates Introduced by EPFO
- Online Fund Transfer Made Easier:
- EPF members with Aadhaar-linked Universal Account Numbers (UAN) can file transfer claims online.
- No employer intervention is required for claims, as a one-time password (OTP) linked to Aadhaar ensures security and efficiency.
- Self-Correction of Personal Details:
- Members can update names, addresses, and bank details directly on the EPFO portal.
- Aadhaar-verified accounts no longer require employer approval for such changes.
- Faster Processing for Pending Requests:
- Approximately 3.9 lakh members with pending requests will benefit from the streamlined process.
- Members can delete previously filed requests and opt for self-approval under the revised system.
- Reduction in Processing Time:
- Nearly 45% of the eight lakh annual correction requests can now be self-approved by members.
- Cases requiring employer-level approvals will see a reduction in average processing time from 28 days to just a few days.
- Improved Grievance Redressal:
- With member profile/KYC issues constituting 27% of grievances, the new system is expected to significantly reduce complaint volumes.
Simplification of Joint Declaration Process
- Eliminating Employer Dependency:
- Employees with UAN issued post-October 1, 2017, can self-correct common errors (e.g., name, marital status, and service details) without employer verification.
- Supporting document requirements have been reduced for streamlined corrections.
- Pre-2017 UAN Holders:
- For UANs issued before October 1, 2017, employers can correct details without EPFO approval.
EPFO’s Vision for Enhanced Services
Labour and Employment Minister Mansukh Mandaviya emphasized that these reforms are part of a larger effort to align EPFO services with banking standards. This transformation aims to improve accessibility and efficiency for all subscribers.
Also Read: EPFO Withdrawal Process: Everything You Need to Know
ALSO READ: Hyderabad Youth Sentenced to 8 Years for White House Attack
