Launch of New Software Feature for Online Updating and Correction of PF Member Profiles

03 Jun, 2024

The Employees’ Provident Fund Organization (EPFO) is one of the largest social security organizations globally, based on its clientele and the volume of financial transactions it handles. Currently, approximately 7.5 crore members contribute to the Provident Fund, Pension, and Insurance Schemes each month.

In just the first two months of this financial year, about 87 lakh claims have been settled. These claims include social security benefits such as advances for housing, post-secondary education for children, marriage, illness, final Provident Fund settlements, pension, and insurance.

Members can claim these benefits online, facilitated by a robust software application that verifies member data through the Universal Account Number (UAN). Maintaining accurate member data in EPFO records is crucial to ensure seamless online services and to prevent erroneous payments or fraud.

To ensure data integrity in member profiles, EPFO issued a Standard Operating Process (SOP) on August 22, 2023. This SOP has now been implemented digitally. Members can request changes or corrections to their profile data, such as name, gender, date of birth, parent name, marital status, nationality, Aadhaar, etc., online and upload the necessary documents.

These requests are routed through the respective employers to PF offices across the country. Members have already begun using this new feature, with approximately 40,000 requests approved by EPFO field offices. Employers receive these requests, verify them, and recommend them for approval. So far, around 2.75 lakh requests have been received.

Proper KYC and accurate member profiles enable EPFO to provide instant services such as automatic settlement of advances, automatic transfer of PF accounts, and e-nomination, eliminating the need for members to visit any office physically.

Publisher: Suma | Bizprout Expert Systems Pvt. Ltd