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EPFO is resolved to reinforce the e-Governance framework to bring more straight forwardness and to give better administrations to its stakeholders. EPFO has just propelled various e-Governance activities, for example, Electronic Challan-cum-Return, Member e-passbook, installment through National Electronic Fund Transfer, Online Registration of Establishments, Mobile administration, Online receipt of cases, Auto exchange of Accounts and so on.

Following key takeaways of The 219th meeting of the Central Board of Employees’ Provident Fund Organization (EPFO) held in New Delhi yesterday under the chairmanship of Union Minister of work and Employment Shri Santosh Kumar Gangwar.

1.The Accounting Policy for valuation and accounting of Equity Exchange-Traded Funds (ETFs) investments were prepared in consultancy with IIM Bangalore. The observations of the CAG incorporated and approved in the accounting policy by the Central Board of EPFO.

2.The Board took note of the 10 requests from ineligible establishments for waiver of damages during the period May 20, 2017 to September 30, 2017 which were earlier rejected by EPFO.

3.Present decentralized system of EPFO for making payment to its beneficiaries involves higher cost of transactions, delays in refund in case of failed transaction and does not provide for AADHAAR enabled payments. Hence, EPFO proposed to move towards the Centralised Payment System using National Payments Corporation of India (NPCI) platform. The benefits of the proposed system are :

  • Member’s funds will be transferred on the same day to the account through NPCI platform.
  • EPFO Office may reconcile the transaction status on T+0 basis.
  • Facilitate AADHAAR enabled transfer of funds to member. It will caused to reduction in cost of bank charges.

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IT based initiatives of EPFO for better services to its stakeholders:-

(1) Online Adhaar Verified UAN allotment to any citizen at Unified Portal: Universal Account Number (UAN) is mandatory for filing the returns and depositing the contributions.However, the establishments face difficulties in seeding Aadhaar details of the employees. To obviate this difficulty, an open functionality has been introduced through which any citizen / present prospective employee can generate his/her UAN on the basis of Aadhaar and link his KYC details. The registration facility is available at Member Interface in the Unified Portal ( https://unifiedportal-mem.epfindia.gov.in/memberinterface/ ). It being an online facility, there is no need to submit any physical documents.

(2) Introduction of Online request functionality to EPF Subscribers for correction in Name, DoB and Gender.

In line with the decision of Government for digital India, a functionality has been developed where member can give online request to his/her employer at Member Interface in the Unified Portal ( https://unifiedportal-mem.epfindia.gov.in/memberinterface/ ) for correction in Name, DoB and Gender.

Source:Press release

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