PF Settlement To Go Mobile FundooMoney

PF Settlement To Go Mobile

Author: Jai Prakash

Provident fund (PF) isn’t normally a part of people’s lives during their work lives. The PF deduction by employer happens even before you get the money in your bank account. But all that changes once you need to make partial or full PF withdrawals. The long process, queues and repeated visits to the provident fund office is something people can do without.

The long process has been simplified over time thanks to an online process. That took a lot of pain out of the process. Now, that process is all set to change further in case of provident fund subscribers with Employees’ Provident Fund Organisation (EPFO). The Labour Minister announced in the Parliament yesterday that soon you will be able to settle PF claims over the mobile.

Claims like PF withdrawal will be facilitated through mobile application UMANG (Unified Mobile Application for New-Age Governance). This means that you will be able to make the claims from your mobile. The significance of government’s intent can be gauged by the fact this body of about 40 million subscribers gets millions of withdrawal applications every year. However, the not-so-great news is that a time-frame for the roll-out of this initiative has not been fixed. Of course, one would hope that would happen sooner than later.