PF Body to Undergo Restructuring, Fill Thousands of Posts

New Delhi: After infusion of technology to improve delivery, retirement fund body EPFO may face another challenge of filling thousands of existing as well as new vacancies as per the proposed organisational restructuring plan. The Employees' Provident Fund Organisation's (EPFO) apex decision making body, Central Board of Trustees (CBT), will meet on December 9 to consider organisational restructuring which includes promotions and creating new post across all cadres. "At present, the EPFO has about 24,000 sanctioned staff to run it 123 offices across the country divided into 10 zones. There is shortfall of 6,000 as these vacancies are yet to be filled," a senior Labour Ministry official said. "With the CBT considering restructuring plan next week, the number of sanctioned post will further go up. Thus the body would have to fill these thousands of posts to meet the expectations of its over five crore subscribers and 50 lakh pensioners," he said. The committee appointed by the EPFO to review and suggest measures for restructuring of cadres in the body has recommended creating posts based on the number subscribers handled by various departments. The official said: "The committee has asked to create new post and additional posts in view of increasing work load of the body." The committee in its report has said: "Taking into account the workload and other parameters such as topography of the area, concentration of industry etc, the Zonal Offices may be bifurcated into 13 (thirteen) Zones for better delivery of service and also for proper monitoring and review of performance of the field offices." Operations of the retirement fund body are divided into 10 zones to handle work load across the country. The panel has also said that certain regional offices can further be divided into many regional or sub offices like in the case of Bandra office where work load is very high. The restructuring of the EPFO is likely to result in early promotion as well as enhanced packages for EPFO staff. Officials stagnating for almost 20 years will be benefited as per the committee's report. The EPFO manages a huge corpus of Rs 8.5 lakh crore and is expected receive incremental deposits of Rs 1.2 lakh crore during this fiscal. It had provided 8.75 per cent rate of interest in the 2013-14 and 2014-15. Sources said that a proposal for fixing rate of interest may come up for discussion and the body may announce slightly higher rate than provided in the previous two financial years.

PF Body to Undergo Restructuring, Fill Thousands of Posts

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