Good news for the 5 crore EPF Account holders in terms of both transparency and awareness as to what is the balance in their PF account. The Employees Provident Fund organizationâs (EPFOâs) 120 offices across the country is updating the accounts of the subscribers. The account holder would initially be able to view the account balance of the previous Financial Year by quoting their account number on the website. However, the subscribers would be able to see the latest balance in next 3-4 months after the updating process completes.
The facility would be a great relieve to the account holders as it would let the account holders ascertain, if their contribution has been deposited by the employer .
By March, 2012, all the regional and Sub offices would be inter connected and EPFO also intend to replace the account number with the Unique Identification Number which would further facilitate the quick transfer of the funds in case an employee changes the job, and hence will make the tracking of their accounts easier.
The above information was given by Mr. Kanchan Roy (Assistant PF Commissioner) at a session at Bengal National Chamber of Commerce and industry.