Showing posts with label EPFO. Show all posts
Showing posts with label EPFO. Show all posts

EPFO asks field officers to enroll their outsourced workers 04/09/2014

EPFO asks field officers to enroll their outsourced workers
04/09/2014 15:09
In a bid to put its own house in order, Retirement fund body EPFO has asked its field offices to enroll workers engaged by them through outsourced agencies as members and provide them Universal Account Number (UAN), reported PTI.
"..All field offices must ensure that each worker engaged through outsourced agencies is not only enrolled as PF member but also allotted UAN by KYC details," an office order said.
"It is observed that field offices of Employees Provident Fund Organisation (EPFO) too are engaging workers through outside agencies/contracts..Such agencies should normally be covered under the (EPF) Act," it added.
EPFO headquarters have asked its over 120 field formations to submit a compliance report in this regard by September 15.
According to information available, there are large number of government bodies, departments and ministries which outsource work to agencies or engage workers through contracts.
"Since the workers engaged through outsourced agencies or contracts are not covered under the state or central social security schemes, they must be made members of the EPFO for the purpose," a senior EPFO official said.
Another EPFO office order issued last month says that according to a study carried by the Labour Ministry, a number of workers deployed by various government departments, undertakings and autonomous bodies on outsourcing basis are not getting the benefits of provident fund, pension and insurance.
EPFO recently notified the higher monthly wage ceiling of Rs 15,000 for becoming member of its social security schemes, which is effective from September 1, and asked its field offices to enhance the workers coverage by 30 per cent.
In order to increase the coverage by 30 per cent, EPFO has asked the staff to especially focus on building and construction industry, placement agencies, mining, public and private sector banks, hospitals, restaurants, schools, workshops, franchises and service centres of branded electronic goods and DTH services providers.
EPFO has asked its officers to investigate whether the security personnel deployed by the banks in their ATMs throughout the country were getting provident fund and other benefits.

EPFO directs field offices to settle all claims within 20 days: Media Report : 22/05/2014

EPFO directs field offices to settle all claims within 20 days: Media Report
22/05/2014 17:56

Retirement fund body EPFO has asked its over 120 field offices to settle claims, including PF withdrawal and pension, within 20 days as against the mandated 30-day time frame, as per PTI reports. "Central Provident Fund Commissioner (of EPFO) directed that from the current financial year 2014-15 the norms for claims settlement shall be settlement of all claims within 20 days," stated a recent performance review of the Employees' Provident Fund Organisation's (EPFO) by its Central Provident Fund Commissioner K K Jalan. Jalan specifically referred to the need to ensure faster settlement of pension claims. It is provided in the Employees' Provident Fund Scheme 1952 and Employees' Pension Scheme 1995 that the claims completed in all respects submitted along with the requisite documents shall be settled and the benefit amount paid to the beneficiaries within 30 days from the date of its receipt by the Commissioner. It further states that if there is any deficiency in the claim, the same shall be recorded in writing and communicated to the applicant within 30 days from the date of receipt of such application, as per media reports. According to the provision, in case the Commissioner fails without sufficient cause to settle a claim complete in all respects within 30 days, the Commissioner shall be liable for the delay beyond the said period. Penal interest at the rate of 12 per cent per annum may be charged on the benefit amount and the same may be deducted from the salary of the Commissioner. CPFC also noted that there are complaints that claims received in EPFO offices are not entered in the system immediately and no acknowledgement is being issued to the claimant. The deficient claims are being returned without even being entered into the system. Jalan stated that the return or rejection of claims and reasons thereof should be watched and the establishment should be counselled and advised to submit duly complete claims, media reports. He has directed that if in spite of such advice some establishments (firms) continue to submit deficient claims, punitive action including levy of financial penalty can be considered. It was also stated that the offices who are settling all claims within 10 days shall be graded as excellent. EPFO had settled 1.21 crore subscribers' claims, including withdrawal and transfer of PF and pension applications, in 2013-14, which is 13 per cent more than in 2012-13.

EPFO decides to impose penalty on PF trusts for violating investment rules

EPFO decides to impose penalty on PF trusts for violating investment rules

Retirement fund body EPFO has decided to impose surcharge on private PF trusts for any violation of investment rules and may withdraw exemptions in case of serious lapse, reported PTI. In the organised sector, firms run private provident fund trusts (PPFTs) for managing their workers funds and accounts themselves. These PPFTs are also called exempted establishment and the members of such trust enjoy benefits at par with the subscribers of Employees' Provident Fund Organisation (EPFO). "..failure to make investments as per the directions of the government shall make the board of trustees (of PPFTs) separately liable to surcharge as may be imposed by the Central Provident Fund Commissioner or his representative," an office circular for field office of EPFO said. These trusts as well as their regulator EPFO make investments of the fund as per the investment pattern prescribed by the government. According to the circular, deviation can be regulated by the levy of surcharge within the securities class. However "If the trust invests in a security/scrip in which investment is not at all permitted, it cannot be said to be a deviation but violation, which may attract cancellation or withdrawal of exemption/relaxation," it stated.