Provident Fund: EPFO promises online information. Some hope for subscribers

     Keeping track of your PF account has always been a problem. Getting the PF account settled without paying bribes was a near impossibility.

It is to the credit of Chidambaram & Indira Gandhi that govt servants could get their pensions and PPF in time.

Even now PPF accounts are not regularly updated. Millions of entries have not been made in the last few years. Posting information on line will make life easier for subscribers who wish to know the balance in their accounts.

This is a very good move by EPFO.

Track PF account online soon

Abantika Ghosh TNN

     New Delhi: Within three months, you will be able to track your provident fund account online and take it up with your regional office if it has not been updated. In the first phase of the initiative, the Employees’ Provident Fund Organization (EPFO) has already put the entire details of the status of accounts of all its 120 offices around the country on its website.

       Following the run-in with the finance ministry on the 9.5% interest rate when the ministry had insisted that accounts should be updated before calculating interest rates, a circular was issued on Wednesday asking all regional offices to complete updation of accounts till 2009-10 by June 30 and till 2008-09 by May 31.

        The list shows that there are 1.82 crore accounts that are not updated till 2008-09 and 2.42 crore accounts that are not updated till 2009-10. Rules say that PF account statement for a financial year should reach the company in question by September of the next year.

         He explained that once the system is in place, one would only need to key in the PF account number and the regional office to get the details of the account.

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