New Delhi: Have you changed many jobs? If yes, then it is quite possible that the money is lying idle in your old Provident Fund (PF) account. Till now, it was very difficult to trace or withdraw money from such old or closed accounts. But now the Employees' Provident Fund Organization (EPFO) has made preparations to end this hassle. Labor Minister Mansukh Mandaviya has announced a new portal named 'E-PRAAPTI'. This portal will help employees to find their old or inactive PF accounts and activate them.
PF is the biggest long-term saving for employed people in India. But as years pass and we change jobs, old accounts are lost. Some companies are closed, old PF ID is not remembered and old accounts are not even linked to UAN (Universal Account Number). The result is that thousands or lakhs of rupees of your hard-earned money remain stuck in the PF account. The purpose of this portal is to make this money reach you easily.
E-PRAAPTI (Employee Provident Fund Aadhaar-Based Access Portal for Tracking Inoperative Accounts) is an Aadhaar-based digital system.
The process of settling PF money has now become faster than ever. According to the data:
Now the dependence on company's HR or paper documents for PF work is ending:
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