EPFO to start e-inspection to monitor compliance
Employees’ Provident Fund Organisation (EPFO) will without further ado dispatch an e-assessment framework the nation over for observing of intentional consistence of EPF conspire by businesses, an authority.
The EPFO is a firm adherent of deliberate consistence and needs to comprehend the business issues if there should arise an occurrence of default and rebelliousness of the plan, Central Provident Fund Commissioner Sunil Barthwal said.
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 EPFO will start an e-inspection system to monitor voluntary compliance by the employers,”-Sunil Barthwal
EPFO is now working on a process whereby a person will be able to get his or her provident fund on the day of retirement and avail timely pension benefits.
Barthwal said that linking the Universal Account Number (UAN) with Aadhaar is required for getting maximum benefits of the provident fund.
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