EPFO introduces 'Passbook Lite' for faster account summaries
What's the story
The Employees' Provident Fund Organization (EPFO) has launched a new feature called 'Passbook Lite.' The move is part of the EPFO 3.0 reforms and aims to offer members a quick way to view their provident fund (PF) account summaries. The new feature will allow users to check their contributions, withdrawals, and current balance in a faster manner without needing to access the full passbook portal.
Simplified process
Passbook Lite improves operational efficiency
"The reform integrates existing APIs, reduces the load on the standalone Passbook Portal, and improves operational efficiency. For detailed and comprehensive view of passbook, including graphical display, the existing Passbook Portal can still be accessed," Labour & Employment Minister Mansukh Mandaviya said. The move provides all key services through a single login, making access easier for members while potentially reducing grievances and boosting transparency. Currently, members must log in separately to the passbook portal to view their PF transactions.
Job transition
Simplified process for PF account transfer during job change
Along with the introduction of 'Passbook Lite,' the EPFO has also simplified the process of shifting provident fund accounts when changing jobs. The organization has made Annexure K, a transfer certificate issued by the previous employer, available online. This way, employees can easily shift their PF accounts and even track the status of their application during job transitions.