EPFO settles over 50 lakh claims in Apr-Aug of FY14

Written by Press Trust of India | New Delhi | Updated: Sep 12 2013, 04:39am hrs
Retirement fund body EPFO today said it has settled over 50 lakh claims in the first five months of 2013-14 and 97 per cent of these cases were resolved within 30 days.

"During the current fiscal, till the month (August) the Organisation settled more than 50 lakh claims, out of which 97 per cent was settled within 30 days as mandated by the scheme," according to an official statement.

In August alone, Employees' Provident Fund Organisation (EPFO) settled 10.98 lakh claims, while the percentage of claims settled within the mandated time frame was 98.9 per cent, it said.

"Reduction of the time period in settling claims has always been a priority area for the Organisation and commendable progress has been made in the recent past," it added.

Besides, the number of establishments registered on the

electronic challan cum return (ECR) portal has crossed 4.76 lakh and the number of active members has touched 4.11 crore.

"It is estimated that more than 4,000 establishments registered themselves on the ECR portal in the month of

August. In August 2013, the Organisation saw Rs 5,961 crore coming in as remittances into its accounts," it said.

EPFO expects to launch online transfer application services very soon, it said, adding, application makes use of digital signatures of employer to authenticate the claims submitted online by the employees.

It has also started the process of registration of digital signature and till August, more than 9,000 digital signatures have been registered.

The Organisation redressed 27,056 complaints in August alone, while only 16,160 complaints were received during the month.

By end of August, a total of 8,791 grievances were pending against 19,788 pending by the end of July. A record number of 47,722 grievances were settled in the last two months, it said.

Social Security agreements have also been signed with 17 countries and 9 of them have been operationalised for avoidance of payment of Social Security contributions in the case of Indian employees and posted abroad, said K K Jalan, Central Provident Fund Commissioner (CPFC).

The process of issue of Certificate of Coverage (CoC), necessary for availing such benefits, has also been decentralised, he said.

"...the CoCs can be obtained from the Field Office concerned instead of Head Office as was the case earlier," he added.

Till August, 21,566 CoCs were issued and of this, 770 CoCs were issued in the month itself, the statement added.