EPFO to launch software to monitor private PF Trusts
Updated: Jan 09, 2014 02:36:12pm
New Delhi, Jan 9 (KNN) In order to improve delivery services of the retirement fund, Employees' Provident Fund Organisation (EPFO) will launch software on Sunday to monitor the Private Provident Fund Trusts regulated by it.
"Employees' Provident Fund Organisation would be launching the software to monitor exempted establishments on January 12," EPFO's Central Provident Fund Commissioner K K Jalan said in a statement.
Private Provident Fund Trusts are those firms which manage their workers' PF account and funds themselves, and are governed by the Employees Provident Fund Scheme 1952, regulated by EPFO.
The second Conference of exempted establishments (private PF trust) held in Delhi resulted in much better interaction with the representatives of these firms, he said.
The statement also said that EPFO has settled more than 95 per cent of the claims in 20 days during the month of December as compared to the statutory limit of 30 days and out of these, 30 per cent claims were settled in just three days.
The EPFO's offices of Ujjain, Vapi, Sagar, Jabalpur, Gwalior, Siddepet, Agra, Udaipur and Luxmi Nagar settle 90 per cent of claims within three days.
The monthly pension to the 44 lakhs pensioners of EPFO was sent by the 123 offices on the last day of the month (December) and most of it was credited by the bank in accounts of beneficiaries on January 1 and 2, the statement by the Ministry of Labour and Employment added.
EPFO has improved as far as grievance redressal is concerned as the 117 field offices of EPFO out of 123, did not have grievance pending for more than a month. Further, 101 offices out of these 117 do not have grievance pending for more than 15 days.
It was also stated that the EPFO has managed that SBI branches will now give the receipt of the cheques/other instruments which are presented at the bank branches so that any delay on the part of the bank branches to account for these instruments will not result into penalty on the establishments.
EPFO has also issued offer of appointment to 240 Assistant Provident Fund Commissioners and the selection has happened after a gap of seven years. (KNN/SD)
"Employees' Provident Fund Organisation would be launching the software to monitor exempted establishments on January 12," EPFO's Central Provident Fund Commissioner K K Jalan said in a statement.
Private Provident Fund Trusts are those firms which manage their workers' PF account and funds themselves, and are governed by the Employees Provident Fund Scheme 1952, regulated by EPFO.
The second Conference of exempted establishments (private PF trust) held in Delhi resulted in much better interaction with the representatives of these firms, he said.
The statement also said that EPFO has settled more than 95 per cent of the claims in 20 days during the month of December as compared to the statutory limit of 30 days and out of these, 30 per cent claims were settled in just three days.
The EPFO's offices of Ujjain, Vapi, Sagar, Jabalpur, Gwalior, Siddepet, Agra, Udaipur and Luxmi Nagar settle 90 per cent of claims within three days.
The monthly pension to the 44 lakhs pensioners of EPFO was sent by the 123 offices on the last day of the month (December) and most of it was credited by the bank in accounts of beneficiaries on January 1 and 2, the statement by the Ministry of Labour and Employment added.
EPFO has improved as far as grievance redressal is concerned as the 117 field offices of EPFO out of 123, did not have grievance pending for more than a month. Further, 101 offices out of these 117 do not have grievance pending for more than 15 days.
It was also stated that the EPFO has managed that SBI branches will now give the receipt of the cheques/other instruments which are presented at the bank branches so that any delay on the part of the bank branches to account for these instruments will not result into penalty on the establishments.
EPFO has also issued offer of appointment to 240 Assistant Provident Fund Commissioners and the selection has happened after a gap of seven years. (KNN/SD)
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