Online PF account details from July 1

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mk76

Herald
The Employees Provident Fund Organisation (EPFO) on Wednesday said account details would be available online from July 1.

Also EPFO plans to replace PF account number with unique identification number, a move which will help in speedy transfer of a subscribers' funds in case of job change and allow them to track their accounts online.

The replacement of PF account number with the UID number will be done after inter-connecting all regional and sub offices of the EPFO by March, 2012.

Read more here
 
I hope this solves the PF fiasco......A lot of people from my org are facing the transfer issue including me who requested for transfer around 2.5 years ago and still have no idea if it is done or not?
 
PF issues are a massive headache . I hope they move online but I dont think so it will be done by 1 july.
 
satishcarya said:
now the PF is managed by companies only..... so will the account reflect even the PF managed by companies ?
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pf managed by companies?

very few, personally i wouldnt prefer working in a company that manages their own pf
 
babhishek said:
pf managed by companies?

very few, personally i wouldnt prefer working in a company that manages their own pf
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Not a lot of names .. But I personally know that Godrej & Boyce manages its own PF..!
 
I had requested for my past 7 years of PF to be bound to my new companies when I joined it 3 years ago. Still it is not done. Not sure where all that money is.

:(
 
I don't have any hopes from this online thingie. I wanted to file a withdrawal, however the PF office isn't accepting any forms as they have a backlog from the time they shifted ofice last year :S
 
^ Tax on PF withdrawals is effective only if the PF is withdrawn after less than 5 years in service. Only exception to this is if you have not got a job within 2 months of leaving your previous one.
 
HDFC also has its own PF trust and so does Parry (the confectionery company). It is advisable to transfer the PF since that gives you continuity of contribution and the possibility of partial withdrawal after 5 yrs even when on active service

I do understand the pain coming from the transfer procedure (being in Human Resources, I come across this all the time) but its the organization to blame primarily (the previous one). Most companies don't act promptly on the transfer requests they receive and after a while the form gets tucked away in draws or gets trashed :P
 
The reason why people face trouble in pf is the employee misuse the pf money for their own deed.

Remembered case regarding hiranandani builders.Though not allowed it is done and whistle blower brought this case but there are many.

Anyways this move is surely in positive line.
 
agantuk said:
^ Tax on PF withdrawals is effective only if the PF is withdrawn after less than 5 years in service. Only exception to this is if you have not got a job within 2 months of leaving your previous one.
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How many young chaps work for 5 or more years in a company now ;)
 
I am facing the same problem now.... Worked for 4 years....

Now quitting to go for higher studies and my pf amount will be cut 20-30% :(
 
How can the current or previous employer misuse the funds. Is it not with some PF fund. At least that is what I was told. There is some PF office which has to do the transaction to merge previous and current PF accounts.
 
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