Enter Keyword and Search






Saturday, August 24, 2013

EPFO shows much better improvement

with 0 Comment
EPFO shows much better improvement 

The number of contributing members to Employee Provident Fund Organisation (EPFO) has crossed 4.00 crore as on 17.08.2013. Similarly, number of establishments covered under EPF & MP Act, who are contributing and filing their return through electronic system has increased to 4 lakh. EPFO also distributed pension to more than 44 lakh pensioners during July, 2013. EPFO’s remittances have also increased over the years. Rs. 5,962 crore were received in the accounts of EPFO for the month of July, 2013 which is around Rs. 229 crore more than the average receipt of the preceding 3 months (April-June 2013). This has been revealed by the Central Provident Fund Commissioner Shri K.K. Jalan while reviewing the performance of the Employees’ Provident Fund Organization pertaining to July, 2013. 

The performance of the Organization has also seen a marked improvement. In the year 2012-13, 88% of the claims were settled within 30 days (the mandate of EPFO) whereas in the current fiscal from April to July 2013, the settlement percentage of the claims settled within 30 days stood at 96.11%. In the month of July 2013 alone, 10.83 lakh claims were settled and out of that 10.66 lakh were settled within 30 days. As can be seen, the percentage of claims settled within 30 days is 98.43% for the month of July 2013. 

It was also noted that the performance of the Organization in other functional parameters has also been encouraging. In the month of July 2013 alone, Rs. 133.00 crore was realized with reference to current demand (the amount raised by the organization from defaulting establishments in the current year). This is Rs. 13.50 crore more than the average realised from April-June 2013. Likewise arrear demand (the amount raised by the department from defaulting establishment in the past fiscals), recovery has also shown an upward trend. In the month of July 2013, Rs. 39.48 crores were realized which is around Rs. 9.00 crore more than the average for the period April-June 2013. 

Customer satisfaction has also occupied the centre stage in EPFO’s transactions and 20,668 grievances were disposed in the month of July 2013 as compared to 13,414 which is the average for preceding three months. Central P.F Commissioner further stated that grievances are being accorded the top most priority and appropriate instructions are issued to all field formations. Direct monitoring of grievances from Head office of EPFO is also done. The internet enabled EPF internet Grievance Management System (EPFiGMS) has also been reactivated and as on date more that 96% of the grievances registered through the portal have been disposed. 

Further, the facility of checking remittances status of an establishment, total no. of members enrolled by an establishment, the balance of EPF members through e-passbook facility, status of claim filed etc. are available on EPFO website www.epfindia.gov.in for providing transparent and effective service for employee and employer. SMS based information regarding status of member’s claims is also made available. As a part of the ongoing process of enhancing service delivery standards, EPFO is all set to unveil online transfer facility wherein employees can effect transfer of EPF account by submitting claims online. In this connection, the process of registration of digital signature has been set in motion. 

PIB News

Related Posts...

0 comments:



Disclaimer:As and when orders amending the rules are published by the Government, the amendment orders will be published in our blog immediately. Readers are requested to refer to the source link is given at the end of the post. All efforts have been made to ensure accuracy of the content on this blog, the same should not be construed as a statement of law or used for any legal purposes. 90paisa accepts no responsibility in relation to the accuracy, completeness, usefulness or otherwise, of the contents. Users are advised to verify/check any information with the relevant department(s) and/or other source(s), and to obtain any appropriate professional advice before acting on the information provided in the blog. Links to other websites that have been included on this blog are provided for public convenience only. 90paisa is not responsible for the contents or reliability of linked websites and does not necessarily endorse the view expressed within them. We cannot guarantee the availability of such linked pages at all times.

Recent Posts