EPFO Updates: Information about the new changes related to EPFO is essential for every working individual. Millions of PF accounts in the country have become inoperative, and the money deposited in them has been stuck for years. According to Union Labour and Employment Minister Mansukh Mandaviya, EPFO will now work in mission mode to release this stuck money.
Knowing about the changes related to EPFO is very important for every employee. If you are employed and deposit your money in your EPF account for the future, then you should be aware of this change by EPFO; otherwise, you may not receive your funds.
There are millions of PF account holders in the country whose money is locked in inoperative EPF accounts. This money has been lying in these accounts for years. Union Labour and Employment Minister Mansukh Mandaviya stated that EPFO will now launch a mission mode for these accounts.
Under this mission, KYC verification of these account holders will be done, and a special digital platform is being launched for this purpose. This platform will identify account holders whose accounts are inactive.
In addition, their nominees will also be identified so that the outstanding amount can be returned securely. If this KYC is not completed, the entire amount will be lost to these account holders.
Furthermore, Mandaviya also stated that, similar to the agreement between India and the UK, a social security clause is now being included in deals with other countries as well.
Under this clause, if any Indian employee works abroad and returns to India, their PF fund deposited there will not go to waste, and they can still benefit from their deposited amount even after returning to India.
Also, the focus is now on making EPFO offices digital and connected with the help of modern technology. The trial of this new system has already started in Delhi.
This will eliminate the need for employees to repeatedly visit regional offices for their complaints or claims, and they will be able to easily connect with the EPFO office digitally.
Disclaimer: This content has been sourced and edited from News 18 hindi. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.
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