The Employees’ Provident Fund Organisation (EPFO) is planning to roll out a new online portal for better monitoring of inoperative provident fund (PF) accounts. The project, called E-PRAAPTI (EPF Aadhaar-Based Access Portal for Tracking Inoperative Accounts), will assist members to find, merge and reactivate their existing PF accounts using Aadhaar-based verification. The initiative aims to enhance transparency, minimise unclaimed amounts, and make it easier to access retirement benefits. This will particularly ease the process for employees who started working before the roll-out of the Universal Account Number (UAN) system to manage long-pending or inoperative PF accounts.
EPFO New Portal for Inoperative Accounts: Key Features & Objectives
- The Employees’ Provident Fund Organisation (EPFO) is setting up a special portal – E-PRAAPTI – to handle inoperative provident fund (PF) accounts.
- E-PRAAPTI stands for EPF Aadhaar-Based Access Portal for Tracking Inoperative Accounts.
- The E-PRAAPTI portal will help the members locate and track inoperative PF accounts not linked with UAN.
- It will help them to reactivate and link old accounts with the Universal Account Number (UAN).
- It will enable users to access accounts using Aadhaar-based authentication.
- It will help minimise manual processes and document requirements for PF accounts.
- It will assist in minimising dormant PF accounts in India.
- The portal will also help in tracking and settling funds.
- This is particularly helpful for those who were employed before UAN (before 2014).
- It will help members to update their profiles and consolidate their employment history.
- The move will help in recovering unclaimed and dormant PF funds.
- EPFO is trying to digitise, centralise and simplify PF management.
- It will help in making PF funds more accessible and manageable.
- The portal will initially be accessed through the member ID and will then be enhanced.
- Overall, it will help in financial inclusion and secure management of the provident fund.
EPFO Static GK MCQs with Answers
When was EPFO established?
A) 1950
B) 1951
C) 1952
D) 1955
Answer: B) 1951 – to provide social security through provident fund benefits for employees in India.
EPFO is governed under which Act?
A) RBI Act, 1934
B) EPF & MP Act, 1952
C) Companies Act, 2013
D) Banking Regulation Act, 1949
Answer: B) EPF & MP Act, 1952 – with legal framework for provident fund, pension, and insurance schemes.
EPFO functions under which ministry?
A) Ministry of Finance
B) Ministry of Labour and Employment
C) Ministry of Home Affairs
D) Ministry of Corporate Affairs
Answer: B) Ministry of Labour and Employment – with responsibility for employee welfare and social security.
Who is the executive head of EPFO?
A) Governor
B) President
C) Central Provident Fund Commissioner (CPFC)
D) Finance Minister
Answer: C) CPFC – with responsibility for administration and execution of EPFO schemes.
Who is the current chairman of EPFO’s CBT?
A) RBI Governor
B) Prime Minister
C) Mansukh Mandaviya
D) Finance Minister
Answer: C) Mansukh Mandaviya – with authority over policy decisions and governance of EPFO.
EPFO headquarters is located in the following:
A) Mumbai
B) Kolkata
C) New Delhi
D) Chennai
Answer: C) New Delhi – with central administrative control over all regional offices.
EPFO primarily deals with:
A) Tax collection
B) Provident fund and social security
C) Stock market regulation
D) Foreign trade
Answer: B) Provident fund and social security – with focus on retirement benefits for employees.
The governing body of EPFO is:
A) SEBI Board
B) Central Board of Trustees (CBT)
C) RBI Committee
D) NITI Aayog
Answer: B) CBT – with responsibility for policy formulation and governance of EPFO.
A Universal Account Number (UAN) is issued by:
A) RBI
B) EPFO
C) SEBI
D) NABARD
Answer: B) EPFO – to link multiple PF accounts of employees.
EPFO was created mainly for:
A) Banking regulation
B) Social security of employees
C) Tax collection
D) Export promotion
Answer: B) Social security of employees, to provide retirement benefits.
Conclusion – EPFO to Launch New Portal E-PRAAPTI
EPFO’s E-PRAAPTI project is an important initiative to enhance transparency and efficiency in dealing with inoperative provident fund schemes. The portal, which will facilitate Aadhaar-based matching and access to old PF accounts, will enable employees to reclaim their lost PF accounts. This will save time, promote e-governance and improve financial inclusion. In essence, this initiative is an example of how EPFO is moving towards digitisation and offering a simple, secure and efficient system to millions of EPF members in the country.
