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ARTICLE · 06 APRIL 2017

Simplification Of Provident Fund Claims Process

S.S. Rana & Co.
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The retirement fund body EPFO (Employment Provident Fund Organisation) is taking several steps for speedy settlement of claims, as stated by Shri Bandaru Dattatreya, the Minister of State (IC)...

IndiaEmployment and HR

The retirement fund body EPFO (Employment Provident Fund Organisation) is taking several steps for speedy settlement of claims, as stated by Shri Bandaru Dattatreya, the Minister of State (IC) for Labour and Employment.1 These steps were published by Press Information Bureau, under Ministry of Labour and Employment on March 20, 2017. As per his statement there were a total of 17.14 crore Employees' Provident Fund (EPF) accounts as on March 31, 2016 and 12.21 lakhs accounts were pending for updation. The closing balance in interest account of the EPFO was INR 45,135.25 Crore as on March 31, 2016. These steps which promote e-governance and seek to expedite the process of settlement of claims are as follows:

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