Of late, 44 million employees' provident fund are active out of total 95.31 million accounts. The major reason said to be with the changing jobs employees have been creating new provident account, closing the previous account.
After the online tracking of provident fund account, the number portability will be in favor of employees as they no need to create new accounts every time they change jobs.
This will also reduce their hassles to withdraw fund from the old account while creating a new account.
According to media reports, the EFFO has also been working to link the provident fund accounts with permanent account number (PAN) or National Population Registry or the unique identity (UID) number.
good thinks will happen in new thinking and new tech.
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