From today, provident fund subscribers can view their accounts online. The Employees Provident Fund Organisation (EPFO) launched the facility here on Friday.
However, as of now, PF subscribers can only view their balance up to March 31, 2013. But, EPFO sources said the process of making the accounts real-time was on and it would be in place soon.
Till now, EPFO used to provide annual account slips to its subscribers by September 30 each year.
The retirement fund body, with over five crore subscribers, also announced that the online facility to transfer PF accounts in case of change of jobs would be in place next month.
Inaugurating the facility, Union Labour Minister, Sis Ram Ola, said: “The facility will help people, who earlier had to wait for a long time to know their account details, to view their accounts online. Besides, it would help in settling various claims well in time.”
Among those present on the occasion were Minister of State for Labour and Employment, Kodikunnil Suresh, and Central Provident Fund Commissioner, K.K Jalan.
“Now we would be able to provide annual account statements online by April or May every year, with all due interest credits,” Jalan said.
On online account transfers, Jalan said live tests of the service were being conducted and it would be launched next month.
He said that the retirement fund body was also making efforts to settle all claims in less than three days, against the prescribed 30-day period.