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Wednesday, September 20, 2017

Here's An App That Lets You Check Your PF Balance, Pension

With the m-EPF app users can view their monthly credits through the passbook as well their details available with EPFO.

HIGHLIGHTS

  • EPF pensioners can access disbursement details through mobile app m-EPF.
  • m-EPF lets employees access their EPF account using Unique Account Number.
  • Employers can view remittance details using m-EPF app.
Link to download on android phone 

https://play.google.com/store/apps/details?id=com.phonegap.helloepfo
 m-epf- screenshot thumbnail


Most employees in the organized sector have an account with the EPFO or Employees' Provident Fund Organisation. The employee provident fund account is meant to offer financial security and stability when the employee retires. Both public and private employees can make  contributions on a monthly basis, and earn interest on their savings. Over the years, the amount in the account turns out to be a huge corpus. Now EPF India has created an app called as m-EPF. It helps employees monitor and operate the EPF account using their  Unique Account Number (UAN) from the comfort of their mobile phone.

The app says that users can view their monthly credits through the passbook as well their details available with EPFO. Similarly, the EPF pensioners have been given the facility to access their pension disbursement details through this mobile app.

The app, which has more than 1 million downloads according to Google Chrome Store, also enables employers to view their remittance details.

This year EPFO has made partial withdrawal easier from provident fund for medical and other purposes like purchase of house, education and marriage of children. For this purpose, the EPFO subscriber is no longer required to submit various certificates or documents.

EPFO has also proposed a loyalty-cum-life benefit of up to Rs. 50,000 at the time of retirement for contributing to the scheme for 20 years or more.

EPFO has also said that its 4.5 crore subscribers and around than 54 lakh pensioners, will now receive payments through electronic or digital fund transfer system only, ensuring quick transfer of funds, easier tracking and reconciliation thereof. The Ministry of Labour in a notification dated May 4, 2017, provided for electronic or digital fund transfer/payment of EPF benefits, pension disbursement and insurance claim. 

EPFO has also launched a housing scheme under which the members can make down payment for a house and also pay EMIs out of their EPF corpus.