Retirement fund body EPFO has decided to make all payments to its beneficiaries through electronic mode from September this year, including provident fund claims.
At present. around 93% of the benefits are transferred through electronic mode. Under this facility, the benefits such as PF withdrawals are directly credited to the beneficiaries' account and no cheque or bank draft is issued.
Making payment through electronic mode will not only improve the efficiency of the EPFO, but it will also reduce the unnecessary paperwork for issuing cheques to beneficiaries, it is expected by EPFO officials.
The digitising of pension data work is expected to be completed in three to four months.
EPFO is also contemplating providing permanent or universal account number to it all active members by October this year.
In case of any grievance / complaint :
- Please contact Compliance Officer Shraddha Mhatre at [email protected] and Phone No. - 91-22-35131664.
- You may also approach CEO Debashis Basu at email- id [email protected] and Phone No. - 91-22-35131664.
