Union Labour and Employment Minister Mansukh Mandaviya has launched a set of user-friendly measures for subscribers of the Employees’ Provident Fund Organisation (EPFO). This includes a WhatsApp service that will allow them to access their PF balance and other details through a verified platform.
The retirement fund body, which has over 34 crore total members and more than 8 crore active subscribers, also launched automatic settlement of inoperative EPF accounts with balances of up to Rs 1,000.
Under the verified WhatsApp service, EPF subscribers will be able to access their PF balance, latest transactions and passbook, along with receiving personalised guidance and assistance on the Employment Linked Incentive (ELI) scheme under the Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY).
The Ministry of Labour and Employment said in a statement that this will make routine services accessible through a familiar mobile platform and reduce the need to visit EPFO offices.
Another major step was the initiation of automatic settlement after prescribed identity and bank-account verification to transfer eligible dues to the rightful beneficiaries. Under this facility, subscribers having Aadhaar-verified inoperative EPF accounts with balances up to Rs 1,000 will not be required to file individual claims.
This is expected to benefit around one lakh accounts involving Rs 5 crore. To put these figures in perspective, the EPFO manages a retirement corpus of nearly Rs 32 lakh crore.
