PF subscribers can now view their accounts online

Provident fund subscribers can now view their accounts online, thanks to the new facility opened by the Employees Provident Fund Organisation (EPFO), in New Delhi on Friday.

However, as of now, subscribers can only view their PF account balance only up to 31 March 2013. The EPFO is working on making PF accounts real time and it would be in place soon, sources said.

So far, EPFO has been providing annual account slips to its subscribers by 30 September each year, while the new facility will allow a continuous monitoring of PF accounts by subscribers.

The new facility while bringing in transparency in provident fund administration will also help streamline the functioning of the EPFO.

The EPFO, with over 50 million subscribers, also announced that beginning next month the online facility would also allow for transfer individual PF accounts in case of change of jobs.

''The facility will help people who earlier had to wait for a long time to know their account details, to view their accounts online. Besides, it would help in settling various claims well in time,'' labour minister Sis Ram Ola said while inaugurating the facility.

''Now we would be able to provide annual account statements online by April or May every year, with all due interest credits,'' Central Provident Fund Commissioner K K Jalan said.

Jalan said live tests of the online account transfers service were being conducted and it would be launched next month.

EPFO is also making efforts to settle all claims in less than three days, against the prescribed 30-day, Jalan added.