The government has announced that the Employees’ Provident Fund Organisation (EPFO) has developed a new e-portal that will help employees trace their old or inoperative EPF accounts and either transfer the money to their active Universal Account Number (UAN) or settle the account online.
The development assumes significance as thousands of EPF subscribers have accumulated multiple PF accounts over the years after changing jobs. Many of these accounts remain inoperative because members either forget about them or face difficulties in linking them with their current UAN.
The information was shared by the Ministry of Labour and Employment in a written reply in the Lok Sabha on July 27.
EPFO has developed an e-portal for old PF accounts
Replying to a question in the Lok Sabha on whether the government was considering launching an e-portal to help members identify, track and link old EPF accounts with their UAN, Minister of State for Labour and Employment Shobha Karandlaje said that the portal has already been developed.
The minister said, “EPFO has developed an e-portal which is a digital platform facilitating the members providing their Aadhaar-based authentication to track their inoperative accounts so as to securely access and transfer their old PF accounts to their active Universal Account Number (UAN) or get it settled.”
In simple terms, the portal is designed to help EPF members who have money lying in old PF accounts that are no longer being operated after changing jobs. Instead of relying on offline processes, eligible members can use Aadhaar-based authentication to identify these accounts and complete the transfer or settlement process digitally.
Why do employees end up with old EPF accounts?
Employees often switch jobs several times during their careers. Every time they join a new employer, a fresh PF account linked to the employer’s establishment may be created under the same UAN. In some cases, especially in older records or where KYC details were incomplete, previous PF accounts remain unlinked or become inoperative.
As a result, many subscribers are unable to access their accumulated provident fund savings without going through a lengthy verification process.
The newly developed portal aims to simplify this process by enabling Aadhaar-based authentication and digital verification.
How will the new EPFO e-portal work?
According to the government’s reply, the portal allows members to:
-Track old or inoperative EPF accounts.
-Authenticate themselves using Aadhaar.
-Securely access their old PF accounts.
-Transfer the balance to their active UAN.
-Settle eligible old PF accounts digitally.
The objective is to reduce the need for members to visit EPFO offices or submit multiple physical documents for such requests.
Will the portal also help members who don’t remember their old PF account numbers?
One of the questions raised in Parliament asked whether the government planned to expand the scope of the portal to cover members who may not remember or have access to their old account identification numbers.
The government’s response was brief and clear.
It said, “No such proposal is presently under consideration.”
This means that, as of now, there is no proposal to expand the portal specifically for members who are unable to recall or access their old account identification numbers.
How will Aadhaar-based authentication help?
The government believes the portal will make the process faster and more transparent by relying on digital authentication instead of manual paperwork.
Responding to another question, the minister said the portal is expected to “reduce manual intervention, minimize physical documentation, and enhance transparency and efficiency through Aadhaar-based digital authentication and the digital submission of Joint Declarations for KYC updates (subject to due verification).”
The reply added that this would facilitate the “efficient, transparent, and hassle-free settlement of old EPF inoperative accounts.”
What is the role of Joint Declaration?
One of the key features highlighted by the government is the digital submission of Joint Declarations for KYC updates.
A Joint Declaration is typically required when a member needs to correct or update personal details in EPFO records, such as name, date of birth or other KYC information, especially when there is a mismatch between EPFO records and Aadhaar or other documents. Traditionally, this process involved paperwork and employer verification.
The new portal is expected to enable digital submission of such Joint Declarations, subject to verification, thereby reducing paperwork and speeding up the process.
Why this matters for EPF subscribers
The launch of the e-portal could provide relief to employees who have switched jobs multiple times and still have money lying in old or inoperative PF accounts.
By allowing Aadhaar-based authentication and digital processing, the portal is expected to make it easier for members to trace old accounts, update KYC where required, transfer balances to their active UAN or settle eligible claims without extensive manual intervention.
However, the government has clarified that there is currently no proposal to expand the portal to specifically help members who are unable to remember or access their old account identification numbers.
What the government said in Parliament
In its written reply, the Labour Ministry said:
“EPFO has developed an e-portal which is a digital platform facilitating the members providing their Aadhaar-based authentication to track their inoperative accounts so as to securely access and transfer their old PF accounts to their active Universal Account Number (UAN) or get it settled.”
On expanding the scope of the portal, the ministry said: “No such proposal is presently under consideration.”
On the expected benefits, the government stated: “The portal would reduce manual intervention, minimize physical documentation, and enhance transparency and efficiency through Aadhaar-based digital authentication and the digital submission of Joint Declarations for KYC updates… This would facilitate the efficient, transparent, and hassle-free settlement of old EPF inoperative accounts.”
Every financial journey has a turning point. What’s yours?
Financial Express is launching a new series highlighting real experiences with money, investments, and the taxman. Did a sudden tax rule catch you off guard? Did a piece of financial advice change your life? Your story could provide invaluable, practical lessons for thousands of fellow taxpayers. Share your experience with us. We respect your privacy: no stories will be featured without a direct conversation and your full consent. Thank you.