EPFO planning online claim settlement & registration from 2013

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SummaryPestered by rising grievances on delay in claim settlements, the Employees’ Provident Fund Organisation is planning to put in place a system where claims will be automatically paid into the subscriber’s bank account.

Pestered by rising grievances on delay in claim settlements, the Employees’ Provident Fund Organisation is planning to put in place a system where claims will be automatically paid into the subscriber’s bank account. The EPFO may also make all company registrations online in the next two months, a senior official said on Tuesday. “Both these online facilities will be launched in early 2013,” the official told FE.

The new initiatives are part of EPFO’s ambitious plans to improve transparency and governance, which will help in streamlining its operations, reducing paperwork and ensuring that services are prompt.

The online claim settlement will be “rule-based" and available only if the subscriber fails to get a job within three months, a senior official told FE.

“We are looking at complete centralisation though a permanent account number based on UIDAI’s Aadhar platform. In the second step, we will look at online coverage of employers, which will make filling of all forms online. The third step will be to make claim settlement online,” the official said.

“The online claim receipt facility can be implemented from 2013,” he added.

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