EPFO commissioner Mr. Anil told to reporters that ‘We have
decided to set up a central clearance house which will be operational on July
1. This will enable subscribers to apply online for settlement of the
withdrawal and transfer of funds claims’
The provident fund account
holder has the biggest problem transferring the account as in the case of
change the job. One doesn’t know how to transfer the account as well as the
previous way to transfer account was harassing and timely.
This facility will also give tracking the account as in what
stage the account transfer is. It includes online tracking and getting the sms
time to time.
EPFO
has the dream plan to provide permanent account number to the entire employees
provident fund account holder as one needn’t to transfer account one place to
other. One account number will work all over country.
But
this dream project will take time around 8-10 months and only be possible in
2014 only. The department is setting the infrastructure for it. It needs speed clearance
house and online office at every district.
The
new system will be very beneficial for the employees as this is department
liability to verify the employees account by the employer for withdraw or
transfer account. In current system the liability is of employees to get
verified the account with the employer.
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