Why in the news?

  • EPFO launches Passbook Lite for easier access to PF balance and other details such as contributions and withdrawals.

EPFO Passbook Lite

  • What is it?: It is a new feature introduced by the EPFO that allows members to view a simplified/summary view of their EPF (Provident Fund) passbook- contributions, withdrawals, and current balance  via the EPFO Member Portal itself.
  • Key Features:
    • Single Login Convenience: The summary view (“Lite”) is available from the Member Portal with the same login credentials without going to a separate passbook portal.
    • Quick Snapshot: The most important data (contributions, withdrawals, balance) are visible in a concise format aiding a fast check.
    • Reduced Load & Faster Access: Reduced traffic on the old passbook site/portal, leads to fewer delays.
    • If a person needs full details (transaction-history, graphical displays etc.), they can still go to the full/existing Passbook Portal.
  • Significance
    • Convenience: Less hopping between different portals makes easier access through one login.
    • Transparency: Members can quickly verify their contributions & balances; also helps in case of PF transfers / change of job.
    • Time-saving: Faster access and faster claim processing leads to less waiting.
    • Digital Records: With Annexure K downloadable and traceable, there is better documentation, which is important for pension / service history.
  • Related New Features:
    • Annexure K Download: Transfer certificate related to PF when you change jobs. Now members can download Annexure K (in PDF) directly via the Member Portal.
    • Faster Settlements/Reduced Approval Layers: Some claim-process approvals have been delegated to lower-level officers