currently i have a project that has nuget packages that are placed in folders according to their different version number
Example packages/EntityFramework.4.1.10331.0/..
Is there a way to update the packages and have the folders renamed to exclude the version numbers i.e for the above we have packages/EntityFramework/
Currently, NuGet doesn't support installing packages without their version number. There's a work item tracking this here: Issue #1522. Please comment/vote to bump the priority.
One way to help with many related scenarios is to enable NuGet Package Restore.