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Soon, transact all PF matters online as EPFO to go ‘paper free’ by Aug 15

Sarbajeet Sen
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EPFO's Rs 47,000-cr ETF investments earn 16.07% return

Retirement fund body EPFO has earned a 16.07 percent return on Rs 47,431 crore investments in exchange traded funds (ETFs) till May this year.

Moneycontrol News

Come Independence Day 2018, the Employees’ Provident Fund Organisation (EPFO) will be free from paper. The organization has set an outer deadline of August 15, 2018, to be paper-free with a parallel expansion of its name EPFO as ‘Electronic Paper Free Organisation’.

“EPFO has set a target of transformation to an electronic paper free organization by August 15, 2018. Various administrative and technical initiatives have already been implemented to achieve this target,” Central Provident Fund Commissioner (CPFC), V P Joy has written to his field offices. In fact, he has said that the organization will try and achieve the paper-free target within the next two months.

Joy has said that in order to consolidate and ensure that target is achieved in time the following actions are proposed to be carried out by all field offices:

--It is proposed to have a campaign for going paper-free during the next two months, namely March and April 2018. During this period, focus will be on verifying Aadhaar for the members so that all claims are received online avoiding submission of paper claims, Establishments may be mandated to get all the claims of employees filled through the online mode

--All members who joined Empolyees’ pension scheme (EPS) through earlier Form 9 declaration, which has now been dispensed with, to be made online with proper approval.

--All e-Court cases will be processed through completely electronic filing system avoiding physical files

--E-Office software implementation and processing of administrative files in the electronic format will be completed in all offices

The CPFC has advised all zonal and regional offices to take “earnest action” in achieving paper-free office as well as “default-free” EPFO system. The focus on enrolment also needs to be kept up to achieve the mandate of social security to all.

To incentivise the transformations, Joy has proposed to recognize the efforts of field offices in achieving the paper-free electronic office targets. “Three Regional Offices which achieve more than 90% claims being received through the online process will be give suitable prizes,” he has said in his communication.