By TIOL News Service

NEW DELHI, AUG 14, 2024: UNION Minister for Labour & Employment and Youth Affairs & Sports, Dr. Mansukh Mandaviya launched a new 'Online facility  for Surrender of Exemption from EPF Scheme' in New Delhi today. Sumita Dawra, Secretary, Labour & Employment and Neelam Shami Rao, Central P F Commissioner and other officials were also present on the occasion.

Speaking during the launch, Dr. Mandaviya mentioned that the online facility is the first of the six modules under the EPFO Central IT System 2.01 that has been implemented in advance. "This facility  will reduce the time and effort  while providing facilities such as online submission of application,  validation of  applications and transfer of past accumulations of the member. It will replace  the earlier system of physical submission   with voluminous documents and allow the establishment to  track its application with a tracking ID. This facility will benefit atleast 1 lakh members of 70 establishments to transfer the accumulations of almost Rs 1000 crores, as and when their surrenders are admitted.", Union Minister added.

Union Minister further mentioned that EPFO has taken a number of initiatives to address many of the present issues. These are the first steps of the many other initiatives that are planned in immediate future, he added. He emphasized on further simplification of proceses for ease of members and timely delivery of new IT systems of EPFO in this calendar year. Union Minister urged officers to find timely solutions to current issues while having a vision for the future.

Union Minister also reviewed the IT interventions including the new EPFO Central  IT System 2.01.  He expressed satisfaction on the readiness of the facilities for seamless implementation of ELI schemes announced in the Union Budget. He also reviewed the plans towards new Integrated Grievance Management System. He directed that efforts should also be made for planning for adaptation of newer technologies including Artificial Intelligence etc in EPFOs IT system.

In the last two years, 27 companies have surrendered their exemptions, adding Rs.1688.82 crores and 30,000 employees to the provident fund under the Employees' Provident Fund Organisation (EPFO) as a result of improved services by EPFO and better benefits under the EPF scheme. It shows the increasing confidence of the stakeholders in EPFO's service and benefit delivery.