EPFO New E-Portal: If you have changed jobs frequently during your career and were unable to transfer funds from your old PF accounts, there is some very important news for you. The EPFO has launched a special digital e-portal. Through this portal, EPF members can easily access their old, unclaimed, or inactive PF accounts and—using their official identity—transfer the funds online to their current Universal Account Number (UAN).
Shobha Karandlaje, Union Minister of State for Labour and Employment, officially announced this new facility in response to a question raised by MP VK Sreekandan in the Lok Sabha.
Benefits of the new portal for EPF members
According to the Central Government and the Ministry of Labour, the primary objective of this new platform is to eliminate the need for paperwork and repeated visits to EPFO offices; the website has been designed to be user-friendly. With the launch of this site, EPF members can now handle these tasks from the comfort of their homes without visiting an EPFO office.
Identification of closed accounts now possible
Users will have the option to transfer balances from old accounts directly to their new UAN or apply online for settlement. A ‘Joint Declaration’ for updating KYC details can also be submitted online via the portal. The digital system will facilitate faster verification, reduce manual intervention, and eliminate the scope for fraud.
Is there assistance available if the old PF number has been completely forgotten?
The government has clarified that while there are provisions for those who possess details or numbers related to their old PF accounts, there is currently no new proposal under consideration for individuals who have completely forgotten or lack any details regarding their old PF accounts.
Why was this new portal needed?
There are over 80 million (8 crore) EPF members in the country. Before the implementation of the UAN system in 2014, employees were assigned a new PF account number whenever they changed jobs. Consequently, funds in many employees’ old accounts remained unclaimed. This new portal will now help members easily reclaim their hard-earned savings accumulated over their careers.
EPFO Begins Crediting Interest
Along with this new facility, the EPFO has started crediting the annual interest—at a rate of 8.25% for the financial year—into members’ accounts. Once the interest amount is credited, members receive SMS notifications on their registered mobile numbers. This offers working professionals a dual benefit regarding their retirement savings.
Why is EPFO’s Digitisation Important?
Over the past few years, the EPFO has been continuously digitising its services. Members can now file claims online, update KYC details for active accounts, download passbooks, and activate their UAN. Additionally, they can correct names, update bank details, access pension-related information, and track claim statuses.
What is the Biggest Benefit for Employees?
The greatest advantage of this new EPFO facility will be for employees who have changed jobs multiple times during their careers. It will now be easier for them to locate old accounts and reclaim accumulated funds. The digital process will save time and reduce the need for in-person office visits, making the entire procedure more secure and transparent.
Conclusion
The new digital e-portal launched by the EPFO represents a significant and welcome step for millions of employees. Now, tasks such as identifying old, inactive, or unclaimed PF accounts, linking them to an existing UAN, applying for online transfers or settlements, and completing various KYC-related procedures are set to become far easier than before. However, no separate system has been put in place yet for members without records of their old PF accounts.