Online access to PF accounts in 3 months

NEW DELHI: You will be able to track your provident fund (PF) account online within three months, and can take it up with the regional office if it hasn't been updated.
In the first phase, the Employees' Provident Fund Organization (EPFO) has posted the details of the accounts' status of all its 120 offices around the country on its website.
A circular was issued on Tuesday, asking all regional offices to complete updating of 2008-09 accounts by May 31, and that of 2009-10 by June 30.The directive came following EPFO's run-in with the finance ministry over the 9.5% interest rate. The ministry had insisted that accounts should be updated before calculating interest rates.
The list shows that there are 1.82 crore accounts that have not been updated till 2008-09, and 2.42 crore accounts till 2009-10. Rules say PF account statement for a financial year should reach the company in question by next year's September.
Central provident fund commissioner S Chatterjee said, "We have set a target of 1,000 accounts per handler per day, and if it is followed we should be up to date within a week. Our ultimate aim is to make the system so transparent that any person sitting anywhere in the world is able to track h/his account online. This will help the individuals to take up the matter with the regional offices. This system will be put in place in another two months. However, just to be on the safe side, we're looking at a three-month deadline."
The new process will make accessing PF accounts much simpler: key in the account number and name of the regional office, and the details will flash on the computer screen in a jiffy.
Though EPFO has warned the regional offices against any laxity in updating accounts, officials attributed the tardiness to errant companies, who don't always submit their PF statements on time. "In such cases, inspectors should go to these offices, and obtain the statements physically," Chatterjee added.