EPFO Introduces New Reforms: Passbook Lite, Annexure K And Faster Settlements. Check Details

EPFO Update: The Employees' Provident Fund Organisation (EPFO) on Thursday (Sep 18) introduced three new reforms aimed at increasing transparency and efficiency for its members. EPFO launched a new facility called 'Passbook Lite' on its portal for quicker balance checks, online access to Annexure K, a crucial transfer certificate for job changers and changing of the approval hierarchy to speed up claim settlements.

Currently, members have to log in to a separate passbook portal of EPFO to check their Provident Fund (PF) contributions and transactions involving advances or withdrawals. This dual-login system iften causes delays and other issues.

However, the new facility allows members to easily check their passbook and related summarised view of the contributions, withdrawals and balance in a simple and convenient format without having to visit the passbook portal.

For a comprehensive view of passbook details, including graphical display, members can continue to access the existing Passbook Portal as well.

"The focus of this reform is on providing all key services through a single login for greater ease of access. The initiative is expected to reduce grievances, improve transparency, and enhance member satisfaction," highlighted Union Minister for Labour & Employment and Youth Affairs & Sports, Dr Mansukh Mandaviya.

Online Access To Annexure K

The EPFO also enabled online access to 'Annexure K' (Transfer Certificate) for PF transfer transparency. Currently, when workers change jobs, their PF accounts are transferred to the new employer's PF office through Form 13 online. Until now, Annexure K was shared only between PF offices and was made available to members only on their request.

With the new reform, members will be able to download Annexure K in PDF format from the Member Portal. The move will allow members to easily verify their PF transfers and confirm that their OF balance and service period are correctly updated in the new account.

Also Read | Surekha Yadav, First Woman Loco Pilot Of Asia To Retire After 36 Years, Anand Mahindra Reacts

Faster Claim Settlements

One of the biggest gripes that members have with the EPFO is the slow claim settlements. To address the issue, EPFO has rejigged the approval hierarchy. The powers once held by higher-level officers have been delegated to Assistant PF Commissioners and subordinate staff.

Under this reform, claims regarding PF transfers and settlements, advances and past accumulations, refunds, cheque/ECS/NEFT returns, and interest adjustments will be addressed quickly, resulting inthe  following benefits:

• Faster claim settlements and reduced processing time.
• Simplified approval layers for smoother service delivery.
• Improved accountability at field office level.
• Enhanced transparency and member satisfaction through quicker, seamless services.