EPFO Launches E-PRAAPTI Portal to Manage Inactive EPF Accounts
EPFO member alert! Have old, inoperative EPF account? E-PRAAPTI portal will soon help you track it easily
The Economic TimesImage: The Economic Times
The Employees' Provident Fund Organisation (EPFO) is set to launch the E-PRAAPTI portal, designed to help members track and activate old or inactive Employees' Provident Fund (EPF) accounts. This initiative aims to assist individuals who began working before the Universal Account Number (UAN) system was implemented, making it easier to manage their retirement funds.
- 01E-PRAAPTI will help members track and activate old EPF accounts.
- 02The portal uses Aadhaar-based authentication for secure access.
- 03It primarily benefits individuals who worked before the UAN system.
- 04An EPF account becomes inoperative if no contributions are made for three years.
- 05Members can transfer funds from an inoperative account to a new EPF account.
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The Employees' Provident Fund Organisation (EPFO) is preparing to launch the E-PRAAPTI portal, which will assist members in tracking, linking, and activating old or inactive Employees' Provident Fund (EPF) accounts. Labour and Employment Minister Mansukh Mandaviya announced that the portal will feature an Aadhaar-based authentication mechanism, allowing secure access to accounts that may not be linked to a Universal Account Number (UAN). This initiative is particularly beneficial for those who began their careers before the UAN system was established, helping them manage their retirement funds more effectively. An EPF account is considered inoperative if there have been no contributions for three years, and the new portal aims to streamline the process of updating member profiles and linking UANs. Members are encouraged to transfer funds from inoperative accounts to active ones to ensure continued interest accrual. The launch of E-PRAAPTI is expected to provide immediate benefits to a large segment of EPFO members.
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The E-PRAAPTI portal will simplify the process of managing retirement funds for many workers, particularly those with old EPF accounts, ensuring they can access their funds more efficiently.
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