EPFO settles around 8 lakh claims in September

Business

oi-Staff

By Super

Published: Saturday, October 19, 2013, 10:06 [IST]

NEW DELHI: Retirement fund body Employees' Provident Fund Organisation (EPFO) has settled 7,96,759 claims during September in its 123 offices across the country as compared to 7,49,639 in the same month last year.

It was observed in a review meeting by the EPFO September 2013, the Organisation settled 7,96,759 claims in its 123 offices located throughout the country compared to 7,49,639 claims settled during September 2012, an official release said.

More than 50 per cent of the EPFO offices settled more than 80 per cent of the claims within 10 days of receipt and offices including Ujjain, Gwalior, Udaipur, Jabalpur, Agra and Laxmi Nagar among many others are settling 80 per cent of the claims within 3 days.

EPFO responded to 16,586 grievances in September which resulted in reducing total number of grievances to around 6,000. The earlier number was more than 25,000. It is also relevant that 101 of the 123 offices have no grievance pending for more than a month.

During September, the body received Rs 6,018 crore as remittances compared to Rs 5,961 crore in the previous month of August. A total of 4.55 crore accounts were updated till the month of September.

EPFO has set a new target to enhance its efficiency levels which include a long term target of settling all claims in 3 days, per capita productivity of 15 claims per day, resolution of grievances registered in the grievance portal 'EPFiGMS' within 10 days, liquidation (updation) of 80 per cent annual accounts by October, 2013 and 100 per cent by December,2013.

In order to provide safe, secure and speedy disbursement of pension, Core Banking Solution (CBS) has been made use of. Almost, 84 per cent of the 45 lakhs pensioners are being disbursed pension monthly using CBS, the statement said.

During the meeting Central Provident Fund Commissioner K K Jalan reviewed the working of compliance division and stressed the need for ensuring compliance in respect of contract employees.

Noting that the recovery of outstanding dues has to be accorded top priority, instructions have been issued to field offices to draw up an action plan for liquidating the same.

As substantial amounts are locked up due to winding up of establishments and resultant court cases, directions have been issued to follow up with official liquidators.

Also, instructions have been issued to verify the compliance position of manpower engaged through contractors in various ministries and departments.

It has also been decided to verify coverage of autonomous bodies functioning under the Central and State Governments with a view to ensure that the benefits of the Act and schemes are extended to all the eligible beneficiaries.

PTI