For the first time, in the history of Employees' Provident Fund Organisation (EPFO), accounts of all EPF members have been updated on 1st April itself. Shri Bandaru Dattatreya, Union Minister of State (IC), Minister of Labour & Employment, has complimented EPFO for achieving this major mile stone on the first day itself of the financial year (2015-16). Shri Dattatreya stated that the process on April 1, 2015 has updated 15, 54, 20,749 member accounts. Earlier this work used to take years. The exercise has also enabled EPFO to know the status of inoperative and active accounts in a fairly reasonable manner. It has been found that 6, 56, 06,009 accounts are active, 8, 08, 56,444 accounts are inoperative and 89, 58,296 accounts are already settled. It also emerged that accounts belong to 6, 31,582 establishments.
The Chief Provident Fund Commissioner (CPFC), Shri K.K. Jalan and his team of officers were working hard for the last two months to make this unique feat possible and successful. One hundred and twenty field offices also worked hard to ensure that all legacy pending cases were sorted out before hand so that accounts updation becomes easier.
It was only during 2014-15 that more than 99% of accounts were updated before the due date, i.e. September 30 of the financial year. In earlier years, the work used to take years for getting it completed.
Source:http://www.pib.nic.in/newsite/erelease.aspx?relid=0
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