Checking Your EPF Account Balance Online
I received the following information from one of my colleagues:
From July 1, check your EPF account balance online.
BS Reporter / New Delhi June 22, 2011, 0:19 IST
The department is ready to provide the facility on its website; the labor minister will review the facility today.
For the over 47.2 million members of the Employees' Provident Fund Organisation (EPFO), finding out the balance in their EPF account will be just a few clicks away from next month.
"The updating of accounts is currently underway in all 120 offices across the country, and we expect that subscribers will be able to view their account balance online from July 1 this year," a senior EPFO official told Business Standard.
He mentioned that in the first phase, members would be able to view their EPF balance of the previous financial year on the website by quoting their account number. "In the next phase, accounts will be updated to show the latest balance. This might take 3-4 months after the introduction of the facility in July."
The initiative is expected to address a major grievance of EPF subscribers as, at present, it is challenging to ascertain the exact amount in the EPF independently at a particular time. Once it is possible to view the account balance, members will be able to pressure the concerned offices if the contribution has not been deposited.
"This will bring a lot of transparency to the whole process of employers submitting EPF contributions to the accounts of employees. Ninety percent of the grievances on whether the money has been submitted or not would be resolved," said the official.
Regarding the possible misuse of the facility, where others would be able to view the EPF account balance of a particular member if they know his EPF number, the official said: "We extensively discussed this issue, and ultimately it was decided that in the interest of transparency, this facility should be allowed."
The measure is part of the EPFO's efforts to improve service delivery. Labor and Employment Minister Mallikarjun Kharge is meeting EPFO officials from 120 offices across the country on Wednesday to discuss the steps for improving service delivery by the organization. The minister will assess the account updating status at various offices and steps associated with the improvement of service delivery.
Regards