HomeEconomyEPFO Reforms Under Review: Automation, Efficiency, and Social Security Expansion

EPFO Reforms Under Review: Automation, Efficiency, and Social Security Expansion

New Delhi, June 14, 2024 – Smt. Sumita Dawra, Secretary of the Ministry of Labour & Employment, Government of India, presided over a crucial review meeting on June 13, 2024, focusing on transformative reforms within the Employees’ Provident Fund Organisation (EPFO). The meeting, attended by Smt. Neelam Shami Rao, Central Provident Fund Commissioner (CPFC), along with senior officials from both the Ministry and EPFO, highlighted several key advancements and future strategies aimed at enhancing efficiency and member satisfaction.

Automation Enhancements and Speedy Claim Settlements

Smt. Dawra commended EPFO for its recent initiatives to streamline claim settlements through automation, significantly reducing rejection rates. Notably, EPFO has introduced an automated system for settling advances up to ₹1 lakh for purposes such as illness, education, marriage, and housing. This proactive step has resulted in the settlement of approximately 25 lakh advance claims through automated processes. Moreover, more than 50% of illness-related claims have been successfully settled within just three days, marking a substantial improvement in turnaround times.

KYC Simplification and Process Rationalization

In a bid to simplify procedures and expedite processing, EPFO has eliminated the requirement for members to upload cheque books or passbooks for KYC Aadhaar-linked accounts. This change has eliminated scrutiny requirements for nearly 13 lakh claims in the past month alone, enhancing operational efficiency and user experience.

Furthermore, EPFO has rationalized the remarks used to communicate with members regarding the return of incomplete cases and rejection of ineligible claims. This measure aims to ensure clearer communication and better understanding among members, facilitating smoother interactions with EPFO.

Technological Advancements and Future Directions

EPFO is currently undertaking a comprehensive revamp of its application software to introduce a Universal Account Number (UAN)-based single accounting system for each member. This initiative aims to automate process flows, minimize human intervention, and expedite the settlement of claims. The development of the new software is being conducted in collaboration with the Centre for Development of Advanced Computing (CDAC), ensuring robustness and efficiency in the system.

During the review meeting, there was a strong emphasis on expanding social security measures and introducing new initiatives to improve ease of living and business operations. Discussions also focused on operational reforms in litigation management and audit processes, highlighting EPFO’s commitment to enhancing governance and transparency.

Smt. Dawra urged all officials to work in close coordination to establish an effective social security system that meets the evolving needs of members and stakeholders.

The reforms discussed underscore EPFO’s commitment to enhancing service delivery, operational efficiency, and member satisfaction. By embracing automation and leveraging advanced technologies, EPFO aims to create a more responsive and member-centric organization, ensuring the continued welfare and security of India’s workforce.

Read Now:New Zealand Triumphs Over Uganda by 40 Runs in T20 World Cup, Makes History as Second-Lowest-Ranked Team to Win

[responsivevoice_button buttontext="Listen This Post" voice="Hindi Female"]

LEAVE A REPLY

Please enter your comment!
Please enter your name here

RELATED ARTICLES

Trending News

Study Highlights the Importance of Bowel Movement Frequency for Overall Health

Seattle: Any color of blood in your stool is a reason to see a doctor, as recent research underscores...

Experts Warn About Hidden Dangers of Eyelash Extensions

The popularity of eyelash extensions is undeniable, with many opting for this beauty enhancement to achieve thicker, fuller lashes...

Scientists Develop Non-Invasive Method to Detect Early Organ Transplant Rejection

New Delhi: In a groundbreaking development, scientists have identified a non-invasive way to detect early signs of organ transplant...

Scientists Research Fire Risks on Spacecraft to Improve Astronaut Safety

New Delhi: Astronauts face numerous risks during space flight, including microgravity and radiation exposure. However, the most immediate and...