EPFO announces major upgrade: New system to simplify claim settlements and eliminate hassles

PTC News Desk: The Employees Provident Fund Organization (EPFO) is set to launch a new IT system, bringing significant improvements for its members. According to Union Labor Minister Mansukh Mandaviya, the transition to this new Information Technology (IT) system is expected to be completed within the next three months. This update aims to streamline claim settlements and enhance user experience on the EPFO portal.

Under the new system, members will no longer need to transfer their member ID when changing jobs. There will be no requirement to open a new account, making the website more user-friendly and efficient. Currently, the EPFO portal handles a range of functions including balance checks and claim settlements, but has faced criticism for various issues.

Problems with the Current EPFO Portal

Users have reported multiple problems with the existing EPFO portal, including difficulties in logging in and slow claim settlement processes. Complaints about the outdated and unreliable software system have led to delays and frustrations among subscribers. Issues such as slow server responses and problems with accessing accounts have been prevalent.

Reasons Behind the Current Issues

The problems are attributed to the high traffic and inadequate capacity of the current IT system supporting EPFO operations. The existing infrastructure struggles to manage the growing number of users, leading to frequent disruptions and inefficiencies.

Upcoming Changes with the New System

The forthcoming update will bring several key improvements:

• Auto Processing for Claims: The new system will automate claim settlements, reducing processing times and minimizing errors.
• Fixed Pension Dates: Pensioners will receive their pensions on a fixed date, ensuring timely payments.
• Simplified Balance Checks: Checking account balances will become easier and more accessible.
• Streamlined Job Changes: Members will retain their accounts without needing to transfer member IDs when changing jobs, addressing issues related to account management and transfer.
• Overall, the new EPFO IT system promises to resolve existing problems and provide a more seamless experience for users.

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- With inputs from agencies

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