EPFO E-Inspection System: EPFO to launch e-inspection system to simplify process

EPFO E-Inspection System: Central Provident Fund Commissioner, Sunil Barthwal, says that the Employees Provident Fund Organisation (EPFO) will soon launch an e-inspection system. This electronic system will simplify the inspection process and will ensure the organizations with open communications will have no physical inspection until necessary. 

EPFO (Employees’ Provident Fund Organisation) proposed to amend the Act to limit inquiry period to a maximum of two years in order to curtail harassment, he also said at a Confederation of Indian Industry-organised interactive session last Friday, a CII release said. 

Many employees are not able to generate UAN i.e a 12-digit Universal Account Number entitled from EPFO to all employees; this issue is faced due to the mismatch in the database. To address this issue, the EPFO will look at an alternative authentication via the employee database.

The EPFO is working on a three-day settlement process for KYC (Know your customer) compliant beneficiaries who have linked their UAN to Aadhaar, have a bank account and a registered mobile number. This process will help the beneficiaries to receive their settlement money at the earliest.

Barthwal also proposed to set up a society of self-regulating consultants, similar to ICAI (The Institute of Chartered Accountants of India), in order to curb “misuse and corruption.” 

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“In a significant announcement for the industry he proposed to decriminalise defaulters and treat the cases as economic offenses,” the release said.

This move will help the government to fasten the settlement of defaulter’s cases, where the level of prosecution will reduce and the defaulters will have to pay penalties or fines for any offences under the act. 

The release quoted EPFO officers as saying that the process of claim has evolved from offline filing to digital and app-based platform and the next phase of advancement will be based on big data analytical platform that utilises artificial intelligence and machine learning to trigger all activities.

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2 Responses

  1. G A says:

    EPFO has become another lethargic system. Sitting on huge pile of cash of hard earned savings of Indian Middle class
    There is ZERO transparency on pension scheme which is linked with EPFO and also poor management overall

  1. August 27, 2019

    […] EPFO TO LAUNCH E-INSPECTION SYSTEM […]

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