EPF Commissioner Mr. Anil told in the press conference that "We have decided to set up a central clearance house which will be operational on July 1. This will enable subscribers to apply online for settlement of the withdrawal and transfer of funds claims" because EPF account holders are more than 50 Million and thus this facility is the most important for EPF account holder to withdrawal and transfer online.
Now a days the EPF account holder has face the big problem that withdrawal and transfer fund if the Provident Fund Account holder will be change the job or transfer the job to other place in India.
If the EPFO takes foot in this regard all EPF account holder get benefit of it. This facility will also give tracking the account as in what stage the account transfer is. It includes online tracking and getting the SMS time to time.
EPFO has the dream plan to provide permanent account number to the entire employees provident fund account holder as one needn’t to transfer account one place to other. One account number will work all over country.
But this dream project will take time around 8-10 months and only be possible in 2014 only. The department is setting the infrastructure for it. It needs speed clearance house and online office at every district.
The new system will be very beneficial for the employees as this is department liability to verify the employees account by the employer for withdraw or transfer account. In current system the liability is of employees to get verified the account with the employer.
Now a days the EPF account holder has face the big problem that withdrawal and transfer fund if the Provident Fund Account holder will be change the job or transfer the job to other place in India.
If the EPFO takes foot in this regard all EPF account holder get benefit of it. This facility will also give tracking the account as in what stage the account transfer is. It includes online tracking and getting the SMS time to time.
EPFO has the dream plan to provide permanent account number to the entire employees provident fund account holder as one needn’t to transfer account one place to other. One account number will work all over country.
But this dream project will take time around 8-10 months and only be possible in 2014 only. The department is setting the infrastructure for it. It needs speed clearance house and online office at every district.
The new system will be very beneficial for the employees as this is department liability to verify the employees account by the employer for withdraw or transfer account. In current system the liability is of employees to get verified the account with the employer.
