PF Body Asks Field Staff To Settle Death Claim In Seven Days
New Delhi: The Employees' Provident Fund Organisation (EPFO) has asked its over 120 field offices to settle death claims within seven days and retirement PF claims on the day of superannuation.
"The Prime Minister Narendra Modi during the PRAGATI review meeting held on October 26 (2016) desired that claims related to death cases be prioritised and expedited and retirement claims may be settled on the day of retirement," retirement fund body EPFO said in a statement.
In accordance, it added, the processes have been reviewed and instructions issued to field offices to settle death claims within seven days from the date of receipt of proposal, and retirement claims on the day of retirement.
The PF body has instructed its public relation officers and officials in the facilitation centres of field offices to scrutinise the claims and guide claimants regarding submission of required documents in appropriate shape.
An official has been posted in the facilitation centres of EPFO for this category of claims, it said.
Besides, it stated that employers are now increasingly using Internet banking to deposit statutory EPF dues since EPFO made it mandatory to use Internet banking as the mode of receipt dues.
About 96 per cent contributions in October 2016 were received online.
The retirement fund body said that in an important judgement Madras High Court dismissed the petition of Builders Association of India, Madurai, praying non enforcement of EPF & MP Act, 1952 in respect of temporary and casual workers.
The High Court stated that provisions of the Act and schemes is applicable to workers including causal workers.
As per para 26(2) of the EPF Scheme, 1952 every employee is required to become a member of the Fund from the date of joining the factory or establishment.
To expand the reach of convenience offered to EPF members, EPFO has joined the network of Common Services Centres (CSC).
A memorandum of understanding (MoU) has been signed between EPFO and CSC e-Governance Services India (CSC SPV) on October 25, 2016. The MoU is initially for a period of five years.
EPFO further said that from this year onward, pensioners can submit digital life certificates via the 'Jeevan Pramaan Patra' programme through a large number of Points of Presence (PoP) of the CSC network in addition to those available at EPFO offices.
Pensioners were required to submit their life certificates on November 1 every year.
Pensioners living in remote areas can avoid cost and inconvenience of travelling to EPF offices or banks for filing paper based life certificate through this arrangement, it added.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.