Major changes coming to EPFO ​​again, offices to be like passport offices; no more running around

The government has given good news to PF account holders. The government has recently taken several positive decisions for them, allowing them to withdraw their PF easily without any hassle.

The government has taken a major decision for PF account holders. EPFO ​​offices across the country will be transformed into 'single-window service' centers. This change will greatly benefit PF account holders. Until now, account holders had to visit their regional office to resolve any issues, but now they can go to any regional office to get their problems resolved.

Union Minister Mansukh Mandaviya provided this information during the inauguration of the EPFO's Provident Fund building. He stated that EPFO ​​offices will be transformed on the lines of passport offices, and a single-window system will be implemented there. A trial of this system has already begun in Delhi.

What was the rule before?

Previously, account holders had to go to the specific regional office associated with their employer to resolve any issues. However, with the new changes, everything will be digital. This means that anyone will now be able to easily resolve all their issues and complete their tasks at their nearest EPFO ​​office. For employees who have difficulty working with the digital system, a new mechanism of EPF facility providers will be launched. Their job is to assist these employees in settling claims. These facility providers will act as a bridge.

Benefits of this change

If someone works abroad, their money will no longer be lost; they will be able to withdraw their accumulated funds even after returning to India. For employees whose money has been stuck for years, the government will now conduct KYC verification in a mission mode. Their accounts will be identified, and their rightful money will be returned to them or their children.

Mandaviya said that in 2014, only 19 percent of the population was covered by social security, while today that figure stands at 64 percent. After China, India is the world's largest country where 94 percent of the people are covered under some form of social security.

What will be the difference between then and now?

Previously, you had to go to a branch office, but now you can get this work done at any EPFO ​​office.
Earlier, you had to rely on agents or do the work yourself, but now you will be guided by an EPF service provider.
Instead of your money getting stuck due to KYC issues, your KYC will be done instantly with the help of a digital platform.
In addition, under the agreement, PF deducted abroad will also be refunded upon returning to India.