A day after Moneycontrol reported that the Staff’ Provident Fund (EPF) e-passbook facility had not been working for the previous few days, the ability nonetheless seems to be in limbo. The web site continues to show the discover that claims that ‘e-passbook facility will probably be accessible right now from 5 pm onwards.’
The Staff’ Provident Fund (EPF) subscribers have been in a tizzy prior to now few days because the passbook facility hasn’t been working of late. Subscribers have complained that they get an error message (‘EPFO providers should not accessible on account of Technical Upkeep associated points. Inconvenience is regretted.’) after they attempt to entry their passbook.
The passbook service has come to a halt, albeit briefly, even on the UMANG cellular app. UMANG is a authorities of India’s digital initiative to entry varied government-based providers. You too can verify your EPF e-passbook on the UMANG app. “I’ve been making an attempt to entry it via the UMANG app for the previous two odd days however I’ve not been in a position to entry it. Hopefully the EPFO passbook facility is restored quickly,” a Moneycontrol reader instructed us.
Nonetheless, since earlier January 12, the web site says that ‘e-passbook facility will probably be accessible right now from 5 pm onwards’.
Calls to the Further Central P. F. Commissioner went unanswered. Moneycontrol has reached out to the labour ministry on January 12 and their remark is awaited.
EPFO passbook is a facility that reveals you your EPF account stability, month on month. It reveals you the employer’s share of month-to-month contribution, the worker’s share of month-to-month contribution. This can be a common facility utilized by many EPF subscribers to maintain a monitor of their account balances.
Saraswathi Kasturirangan, Accomplice, Deloitte India says that many subscribers have been desirous to see their EPF passbooks to verify the delay in curiosity being credited into their accounts. “Some shoppers have raised issues that they haven’t been in a position to see the curiosity for the 12 months 2021-22 credited of their account. That’s the reason, many staff have been checking their passbooks commonly,” she says.
To make sure, the Ministry of Finance had clarified in October 2022 about issues of the delay in curiosity credit score. “The curiosity is being credited within the accounts of all EPF subscribers. Nonetheless, that isn’t seen within the statements in view of a software program improve being carried out by EPFO to account for change within the tax incidence. For all outgoing subscribers looking for settlement and for subscribers looking for withdrawal, the funds are being achieved inclusive of the curiosity,” it had stated on Twitter in October 2022 .
Preeti Chandrashekhar, India Enterprise Chief, Well being and Wealth, Mercer India says technical glitches for extended intervals should not one thing one is used to at the present time. “Sure, folks do verify their passbooks commonly to relaxation assured that the cash is there. We do it on a regular basis with our saving checking account passbooks as effectively. However when the downtime impacts our capacity to do transactions, it bothers us. Right here in EPFO additionally, whether it is simply taking a look at passbooks it isn’t a grave challenge but when customers try transfers and many others it’s an irritant” she says.