Policy

EPFO to launch e-inspection system to simplify process

PTI Bengaluru | Updated on August 26, 2019 Published on August 26, 2019

It is also in the process of implementing a three-day settlement period for KYC-compliant beneficiaries.

EPFO will launch an e-inspection system that will simplify the inspection process and ensure organisations with open communications will not be subject to physical inspection until necessary, according to Central Provident Fund Commissioner Sunil Barthwal.

EPFO (Employees’ Provident Fund Organisation) proposed to amend the Act to limit enquiry period to a maximum of two years to curtail harassment, he said at a Confederation of Indian Industry-organised interactive session last Friday, a CII release said.

A small percentage of employees are unable to generate UAN (a 12-digit Universal Account Number to all employees entitled to EPF) due to the mismatch in data, Barthwal said, adding to address this issue, the EPFO is looking at alternative authentication vis-a-vis the employee database.

“The EPFO is working towards a three-day settlement period for KYC (Know Your Customer) compliant beneficiaries who have UAN linked to Aadhaar, have a bank account and a registered mobile number,” the release quoted him as saying.

Barthwal also proposed to set up a society of self-regulating consultants, similar to ICAI (The Institute of Chartered Accountants of India), to curb “misuse and corruption.”

“In a significant announcement for the industry he proposed to decriminalise defaulters and treat the cases as economic offences,” the release said.

The release quoted EPFO officers as saying that the process of claim has evolved from offline filing to digital and app-based platform and the next phase of advancement will be based on big data analytics platform that utilises artificial intelligence and machine learning to trigger all activities.

Published on August 26, 2019
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.