EMPLOYEES PROVIDENT FUNDS
The below details was given in the Parliament in written reply to a question by the Minister of Labour and Employment Shri.Mallikarjun Kharge as follows…
State-wise details o>1F the funds deposited in the Employees Provident Fund (EPF) is given alt Annex.
As per Annual Account (unaudited) of the Organisation for the year 2011-12, Rs. 22,636.57 Crore is lying in Inoperative Accounts.
Returns are being collected from establishments wherein contributions are received so as to update members` accounts to make them operative. Following steps have been taken to get the claims from the PF members so as to settle the claims of such inoperative accounts:
(i) Publicity through print media and electronic media is made to educate the members to file their claims for settlement.
(ii)The employers and employees unions have been requested to advise the members to file their claims for settlement.
In order to ensure the paymeni: to the actual claimant, following precautions are taken:
(i) The attestation of claim foirms by the authorized signatory is made mandatory where the establishment is in operation.
(ii)To identify the member iim those cases where employer is not available, the attestation by the Bank authorities is insisted alongwith at least one of 1the documents as required under KYC (Know Your Customer) of the bank.
The current phase of Computerization Project of Employees9 Provident Fund Organisation (EPFO) was approved by the Central Board of Trustees, Employees` Provident Fund in its meeting held on 17th April, 2008 and accordingly the Project has been implemented! in 119 offices out of 120 offices by 31st March, 2011. The computerization in only left over office at Keonjihar (Odisha) could not be completed as the office premise was not suitable for implementing the project and the office has been shifted to a new rented! premises. The implementation of computerisation project in this office would be completed shortly.
STATE-WISE FUNDS DEPOSITED IN EMPLOYEES PROVIDENT FUND (EPF)
AS ON 31-03-2012
(Rs. in Crores)