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If you are a job holder then you will know about the PF account, which is operated by the Employees Provident Fund Organization (EPFO), which has good news for crores of members. The reform recently introduced by the Ministry of Labor has made it quite easy for members to transfer funds and correct personal information without leaving home. Let's know the complete details about it.

Self-Service for Personal Information Update

EPFO members can now easily update their personal details, such as their name, father's name or date of birth, through EPFO's digital platform. Earlier, members had to visit EPFO offices for any correction or go through a long process.

Simplified Fund Transfer

Another major reform is the ability to transfer EPFO accounts from one institution to another using OTP. This change has made the transfer process faster and more efficient, instead of the already lengthy and complex process that members had to go through.

Addressing the backlog of complaints

EPFO received around 8 lakh complaints related to information changes. With the introduction of these reforms, members will be able to address and resolve these issues themselves, thereby reducing the pressure on EPFO offices.

Centralised Pension Payment System (CPPS)

Additionally, EPFO has recently implemented its Centralised Pension Payment System (CPPS) in all regional offices. This will benefit over 68 lakh pensioners, allowing them to withdraw their pension from any bank and eliminating the need for personal verification at the time of starting pension.

Disclaimer: This content has been sourced and edited from [NDTVIndia].