The Employees Provident Fund Organisation (EPFO) today launched an online facility which will enable its over 5 crore subscribers to view their updated provident fund balance without waiting for their annual PF account slips.
The subscribers can now track their accounts online on a real-time basis and also take a printout of their records here.
While the site claims to have been updated today, it showed data till March 2012 when tested on a PF account. The EPFO officials could not be reached despite repeated attempts by NDTV.
At present, subscribers get account PF statements once a year. The Employees Provident Fund Organisation (EPFO) is supposed to dispatch annual provident funds account slips by September. But the process usually takes longer.
For the period starting April this year, subscribers will be able to see only the amounts credited to their accounts every month but not the interest credited. The rate of return on PF deposits for this fiscal has not been announced yet.
The new online facility will also be available to subscribers with inoperative accounts. The EPFO makes accounts inoperative when a contribution is not made for 36 months in a row.
EPFO's Central Provident Fund Commissioner K K Jalan said that subscribers would also get the facility for making online PF account transfer claims from next month.
Every year, the EPFO receives about 1.2 crore claims, including transfer, pension and withdrawal of Provident Fund. Jalan also said that the EPFO is making efforts to settle all types of claims in less than three days as against the prescribed 30-day period.