NEW DELHI: Retirement fund body EPFO is likely to launch the online PF withdrawals facility in next three months for the benefit of its over six crore subscribers.
After the launch of this facility, subscribers will be able to apply online for withdrawal of the provident fund which will be transferred directly to their bank accounts.
The details of the online PF withdrawal facility will be discussed at a meeting of EPFO trustees from workers’ side called by the Labour Ministry on July 24, a senior Labour Ministry official said.
At present, the subscribers who wish to settle their accounts with the Employees’ Provident Fund Organisation (EPFO) are required to apply manually for withdrawing PF.
The official said that for launching the facility, at least 40 per cent of the Unique (portable PF) Account Numbers (UANs) should be seeded with the Aadhaar number and bank account details of the subscribers.
At present, there are only 12 per cent subscribers whose Aadhaar number has been seeded with UANs activated by them.
In order to push the online facilities for subscribers, EPFO has become the registrar of Unique Identification Authority of India ( UIDAI) for enrolment. It is also an online authentication user agency of the Authority. (AGENCIES)
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