It is important for every working person to be aware of the new EPFO changes. Lakhs of PF accounts in the country have become inactive, with funds stuck for years. According to Union Labour and Employment Minister Mansukh Mandavya, EPFO will now work in mission mode to release these funds.
It is very important for every employee to be aware of the changes related to EPFO. If someone is working and has deposited his money in an EPF account for the future, then he must be aware of this EPFO change, otherwise his funds will not be available.
There are lakhs of PF account holders in the country, who have locked their funds in these inactive EPF accounts. This money has been lying in these accounts for years. Union Labour and Employment Minister Mansukh Mandavya said in a statement that EPFO will now start a mission mode for these accounts.
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Under this mission, KYC verification of these account holders will be done and a dedicated digital platform is being launched for this purpose. This platform will identify those account holders whose accounts are closed.
Under this, if an Indian employee returns to India after working abroad, their PF funds deposited there will not be lost and they will be able to benefit from their deposits even after returning to India.
Also, now the emphasis is being placed on connecting EPFO offices with the help of digital and modern technology. The trial of this new system has already started in Delhi.
This will eliminate the need for employees to visit their regional offices repeatedly to file complaints or claims and they will be able to stay digitally connected with the EPFO office.