What if the government is spending sleepless nights in its efforts to table the Budget on July 6 and India’s entire industrial empire awaiting a new era of sops, for Employees Provident Fund Organisation (EPFO) subscribers, there is already some good news.
From now on, employees would no longer have to go through the tedious and rather long process of knowing the nitty-gritty’s of their PF account. All the information which they want to track would be just a ‘click’ away in a few days.
The reason behind the provision of this new facility is that all the accounts, across the country, would now be made available online. That would definitely be no mean feat, specially when a country like India boasts of having some 4.5 crore PF subscribers.
The facility is expected to be fully functional from December this year, according to Labour Ministry sources. But the road so far has not been as smooth as expected, because making details of such a large number of subscribers available online was not easy.
EPFO officials say that computerizing its operation took them eight years. Since April, a test run of the facility has been implemented.
According to officials, the subscribers using their EPF account numbers would be able to see their balance in the first phase. In the latter part of the project, which might see the light of the day in 2010, the subscribers would be able to view their contribution, interest accrued, status of application for advances, loans and a host of other activities.