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5 EPFO Initiatives Every Member and Pensioner Should Know

IndianMoney.com Research Team | Updated On Thursday, June 21,2018, 03:16 PM

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5 EPFO Initiatives Every Member and Pensioner Should Know

 

 

 

Employee Provident Fund Organization (EPFO), is taking up various measures, to provide better services to its subscribers and to make compliance and governance really easy. Employers, employees and pensioners can benefit from these latest initiatives by EPFO. These include the launch of the Pensioner’s Portal on its website, new facilities to link UAN, Aadhaar and so on.

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5 EPFO Initiatives Every Member and Pensioner Should Know

 

1. Pension Passbook Service:

 

EPFO has introduced a new e-service, especially for pensioners. The new e-service can be availed via UMANG App. If a pensioner wants to view his pension passbook, he/she needs to click the ‘View Passbook’ option and enter the PPO Number and DOB (Date of Birth).

Once the information that the pensioner furnishes gets validated, a One Time Password (OTP) will be sent to the registered mobile number. The pensioner has to provide the OTP that they receive. Next, a ‘Pensioner Passbook’ will be displayed. Pensioner’s details such as name and DOB will be mentioned. The UMANG app also features other e-services like employee-centric services, employer-centric services, general services, pensioner services, and eKYC services.

 

2. Pensioner’s Portal on EPFO website:

 

EPFO has also launched the pensioner’s portal on its website. This service allows subscribers to access their pension-related information. They can check details relating to pension payment order like pension payment order number, passbook and related information like date of credit of pension, submission of pensioner’s life certificate, and so on.

In case a pensioner’s life-certificate is not submitted or is rejected, they can check the status of their life certificate on the portal. If the pension has stopped, a pensioner can also get to know the reason for the stoppage.

 

3. Information about contributions not deposited by employers:

 

EPFO will also inform its members if employers do not deposit their contributions for any given month within the due date. The mobile number or email ID of every member will be registered and linked with their UAN. They will be informed via SMS or email.

As of now, EPFO informs its members about the credit of monthly contributions into the registered Universal Account Number (UAN) via SMS or email. Members can also access credit information through UMANG App, online e-passbook and also by giving a missed call to their helpline.

 

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4. Increase or decrease PF investments into stocks:

 

In the current financial year of 2018-2019, EPFO plans to give its members the option to increase or decrease their PF investments into stocks. This can be done via ETFs (Exchange Trade Funds). This is to give better returns on member’s contributions.

EPFO plans to credit the ETF investment to the member’s PF account. EPFO plans to do this by developing software to credit ETFs into members’ PF accounts. This might take around 2 to 3 months.

After this is implemented, EPFO members will be given an option to increase or decrease investments in ETFs from their PF accounts.

 

5. e-Nomination facility:

 

To keep up with the Government’s digitalization program, EPFO has also introduced the e-Nomination facility. This facility allows members to file nomination forms.

It is available at the Member Interface of the EPFO Unified Portal. Any subscriber, who has got his UAN Aadhaar seeded, can make use of this facility. This facility doesn’t need employer’s intervention and can be done independently by the employee. All the member has to do is give nomination details online and digitally sign the nomination.

 

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IndianMoney.com Research Team

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