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News Topical, Digital Desk : In the latest series of reforms related to the Employees Provident Fund Organisation, EPFO has now launched a new service "Passbook Lite" under which its more than 7 crore members will now be able to access all the details related to their account through a single login on the EPFO portal.
Currently, EPF members must log in separately to the Passbook portal to access their provident fund contributions, advance withdrawals, and account details. To facilitate PF account transfers upon job change, employees are now given the option to download Form-K directly from the portal in PDF format and submit it. This makes PF account transfers quick, transparent, and seamless.
One login will show the complete details of your EPF account.
Speaking to reporters regarding these latest EPFO reforms, Union Labor and Employment Minister Mansukh Mandaviya said that the EPFO has launched a new feature called "Passbook Lite" on its member portal. This will allow members to view a comprehensive passbook for their PF account, showing contributions, withdrawals, and the latest balance, directly on their portal.
This improvement will reduce the load on the Passbook portal and increase operational efficiency. Mandaviya said, "Our goal is to provide all key EPF services through a single login, making it easier for members and reducing complaints." Passbook Lite has been available on the EPF subscriber portal since Thursday.
You can track your PF account transfer online.
A new feature has been provided for members to download Form-K in PDF format directly from the member portal. This will allow members to track the progress of their PF account transfer online. This will also allow members to easily determine whether their PF account transfer has been processed correctly.
This means members will be able to determine whether their old PF balance, service tenure, etc. have been updated correctly. Maintaining accurate PF account details is crucial for members to meet future needs, especially for calculating EPS pension after retirement. Currently, PF account transfers are made online through Form 13, through the new employer.
EPF has taken several corrective steps – Labor Minister
Discussing the ongoing reforms in EPF, the Labour Minister said that earlier approval of high level officials was required for many services like PF transfer, payment, advance withdrawal, refund etc. Due to this multi-layered process, there was delay in settlement of members' claims but EPF has made it easier by taking several reformative steps.
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