If an employee is private or public, who pays towards his/her PF, then the news could seem better for him/her. Employees’ Provident Fund Organization (EPFO) has given billions of its more than 10 million members a New Year’s gift. Many of the new initiatives are part of the digital reform in which members can transfer funds, change personal details, etc with utmost ease.
After the new reform by the government, now the members will not have to go to the office to do all this from now on, just sitting at home. All you will need will be to use an OTP.
Digital platform and OTP based system.
It is clear that every EPFO member, under the new rules of the government, can correct such personal details as- his/her name, father’s name, and his/her birth date. Previously they could do these things only after facing a lot more difficulty, confusion, and lack of information, as there was a piston line for completing these procedures only after thousands of queries.
Now that the process has been made pretty fast and simple due to the digital solutions available in the transfer of funds and changing of personal information through a digital system and OTP that so that entire process is rolled out and people have approved on online transactions.
No need to worry about transferring funds after changing jobs
As per the latest information, 8 lakh complaints were reported in respect of the correction of the personal information members in the EPFO. There will be no more waiting on correcting the complaints after the applied changes. How about pneumatically blowing the information?
The Union Labor and Employment Minister, Mansukh Mandaviya said that this would lighten the load of work in the EPFO office. You used to face much difficulty transferring funds from an EPFO account after changing jobs, but this is much simpler now, and work can be concluded on an OTP with just minutes.
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