Q. IS "SURGICAL STRIKE" REQUIRED IN ‘EMPLOYEES’ PROVIDENT FUND ORGANISATION’ ?
A. By observing some incidences in some Provident Fund Offices, continuing the same procedure of 1952 paper work and negligence in some Provident Fund offices in delaying the claims etc., increasing of complaints and increasing of " UN CLAIMED CONTRIBUTIONS" and no transparency one can strongly demand for the need of 'SURGICAL STRIKE' / ‘REFORMS’ and force to implement the ‘REFORMS’ in “ Employees’ Provident Fund Organisation”.
When the “ Employees’ Provident Fund Organisation” only investing its surplus funds in 'SHARES, MUTUAL FUNDS AND OTHER SECURITIES', why the “ Employees’ Provident Fund Organisation” is forcing the 'Employers and Employees' to deposit the 'Contributions' in PF A/c?
- Where is the 'Social Security'?
- Where is the high 'Liquidity'?
- Where is the 'Transparency'?
- Where is the 'savings Appreciation'?
- Where is the ' On line updating or correction facility'?
- Where is the 'Qualitative & quantitative Service'?
- Where is the 'Protection' to the nominees in absence of members and / or after 30 , 35 years, if they put several restrictions on documents corrections?
Can any officer say , even today, at least 60% of employees data Viz., Full name , Father's name , age , DOB, DOJ, Married or un married, Education, Bank a/c details , IFSC code, Nominee(s) full names, DOB , relation details, Cell Number, Aadhar Card Number, Aadhar card Number and Name is same or not, PAN number, is 100% correct. Then what is intention o the 'EPFO'?.
- Then, why should not Employees/ Employers demand or request the Govt to make the "PF A/c" as an optional like a NPS ?
Is it necessary 'Employer Attestation' to update or make correction the nominee D.O.B or name ? Self attested 'Aadhar card' or ' Voter Card' is not athenticated?
For the closed companies , for change of several companies , after 20 to 35 years of service , where the member find the ' Employers'. That means , nominee can not get the pension and it will go to un claimed contributions. Is this fair to nation.
For the closed companies , for change of several companies , after 20 to 35 years of service , where the member find the ' Employers'. That means , nominee can not get the pension and it will go to un claimed contributions. Is this fair to nation.
Briefly about the EPFO, The Employees’ Provident Fund Organisation , is an Organization which was established as a statutory body formed by the Employees' Provident Fund and Miscellaneous Provisions Act, 1952 and is under the administrative control of the Ministry of Labour and Employment ,Government of India.
The EPF & MP Act, 1952 was enacted by the Parliament
of India and came into force
with effect from 4th March 1952 as part of a series of legislative
interventions made in this direction. The
Employees' Provident Funds Scheme, 1952 framed under section 5 of the Act was
brought into force by stages and was enforced in its entirety by 1st
November 1952.
EPFO assists the Central Board in administering a
compulsory contributory Provident Fund Scheme, a Pension Scheme and an
Insurance Scheme for the workforce engaged in the organized sector in India. It
is also the nodal agency for implementing Bilateral Social Security Agreements
with other countries on a reciprocal basis. The schemes cover Indian workers as
well as International workers (for countries with which bilateral agreements
have been signed. As of now 17 Social Security Agreements are operational) It is a largest saving oriented and social security organisation in India.
Presently, the following three schemes are in operation
under the Act:
1. Employees' provident Fund Scheme , 1952 (EPFS)
2. Employees' Deposit Linked Insurance Scheme,1976 (EDLIS)
3. Employees' Pension Scheme,1995 (replacing the Employees' Family Pension Scheme,1971) (EPS)
1. Employees' provident Fund Scheme , 1952 (EPFS)
2. Employees' Deposit Linked Insurance Scheme,1976 (EDLIS)
3. Employees' Pension Scheme,1995 (replacing the Employees' Family Pension Scheme,1971) (EPS)
In fact ‘Provident Fund A/c is a God gift to the
employees, if it works perfectly. The Provident Fund main motto / intention is to improve the ‘Saving habit’ , creating an additional benefit through employer and to provide ‘Social Security’, to the employees.
There are so many other benefits viz., Loan facility , Children Education facility, Insurance facility, Pension facility, Nomination facility etc., to the employees with this “ Employees’
Provident Fund Organisation”. Those are in detail,
01. 100% security for the Employees share of PF as well as ‘Employer share of
PF’.
02. Motivates saving
habit from the date of joining in new Company.
03. At highest rate of interest , the PF yearly closing
balances will be calculated. Every year
, the rate of interest will be decided
by the
Central board , Union Leaders and with the support of the central labour ministry.
04. It provides Insurance facility, loan facility when the members required, as per the Provident Fund norms.
05. It provides
retirement benefit ( One who
completes 10 years of service) in the
form Pensions till the members death , after that wife / Husband (nominees) will get. After
that or if nominees are not there , 2 children will till they attain
21 years. In case of handy cap children get till their death.
06. Those who can not continue the service for more than 10 years due different reasons,
can claim the EPF as well as EPS from the “Provident Fund Department” concerned, after 3 months from the date of
resignation. If required , he/she can continue
pension scheme, by applying “
Scheme Certificate form 10-C”.
07. Minimum pension
increased to Rs.1,000/-.
08. EPF or EPS amount
can not be stopped by any
employer or any PF officer.
09. EPF or EPS amount
can not be attached by the court.
10. On 1 October 2014, the Hon'ble Prime Minister of India Mr. Narendra Modi launched a "Universal Account Number" for
Employees covered by EPFO to enable PF number portability. It is more useful to settle the EPF
& EPS accounts very quickly.
11. Recently, Digital (paper less) System (100% Software) also introduced,
in “ Employees’
Provident Fund Organisation”.
Such a way , As per the EPFO printed pomp lets during the year 2016, there are so many changes made and providing benefits to the members (Employees') as under:
01. Total number of active workers 4 Crores
02. Total number EPF
accounts 17
Crores
03. Total corpus 8
Lakh Crores
04. Total annual claims settled 1.2 Crores
05. Total annual Online grievance settled 2.2 Lakhs
06. Total Number of Establishments 9.5
Lakhs
07. Total number of Pensioners 55 Lakhs
During the moth of December 19, 2016, the Provident Fund interest rate
for 2016-17 fiscal has been revised to 8.65%, representing a decline of 15
basis points over the previous 8.8% rate.
Then, what is the need of ‘REFORMS’
in ‘The Employees’
Provident Fund Organisation’?
Whatever benefits are
there, whatever saving system is habituated
, whatever social security is there,
there are so many loop holes are there in “The Employees’ Provident Fund Organisation”. Those
are,
01. There is no 100% transparency in EPF & EPS deposit amounts and
Interests. Like bank balance, members or
employers are not able to know the PF balance, at any point of time. (Those who have the UAN and those who do not have UAN / in operative Accounts)
02. There is no 100% transparency on un claimed amounts.
03. To settle the superannuation issues and other issues, the
department officers are taking , more than 100 days.
04. For the settlement of
superannuation claims and other claims , the PF department insisting number of documents, several signatures of employers, several
signatures of members etc.,
05. Some of PF departments
PRO’ s do not have proper awareness , what are the documents required to
settle issues and to tell the members etc.,. Because of these reasons , members are
coming to the PF offices several times, with the same work.
06. Some of employers deducting the PF and not depositing in PF Bank A/c(s) in time.
07. Due to LPG , Some of the corporate and MNC companies are collecting total 24% PF from the employees only.
06. Some of employers deducting the PF and not depositing in PF Bank A/c(s) in time.
07. Due to LPG , Some of the corporate and MNC companies are collecting total 24% PF from the employees only.
08.Most of the times the EPFO is delaying in settling PF related issues. For example , one ‘X’ member went to PF office to get
the information to settle the “ Superannuation” pension, who has not completed
10 years service and attained 58 years. After going 2 times , one day the PRO
said the member to submit the following documents along with Form-10D. Those
documents are, Scheme Certificate original , Form-10D duly filled and signed by
the member as well as employer, Aadhar card Xerox duly attested, Bank Pass Book
Xerox duly attested, Non employment affidavit on Rs.20/- Non judicial stamp
paper and duly attested by gazetted officer and 3 post card size full family
photos.
Another day the ‘X’ member went to the PF office to
submit. There the PRO said that on all the 3
family photos also , employer signature required.
On 4th day , the member went there , after
attestation of family photos by the employer. Then the officer took the
application along with all the documents and given the acknowledgement. After
15 days , they sent the file to another office
and there is no proper information. This indicating that the PRO do not
have aware ness, which office will settle this file. Latter , the member
received call from other PF office and
they require some more employer signatures and member signatures and member
identification symbols. After some days, the member went to the other PF office
and completed all the signatures and
member identification symbols etc., and
again submitted personally with the PF
office and taken the acknowledgement. As of date more or less 100 days over and
the ‘X’ member issue was not settled.
Today, we are in 21 century and Digital era. Why all
these documents and formalities required to settle EPF/EPS amounts after certain period. PF is a members hard earned money. Members sweat and they deposited as a security. When he is not completed 10 years service and attained
age of 58 years, one single application, Scheme Certificate( if it is not there
one Affidavit) and Single Aadhaar card is
sufficient to settle the PF/EPS issues with in one hour. If the employer didn't deposit the contributions, that is irrelevant to the PF members. It is not a responsibility of employees. Once the employer filed returns online means, that the employer has deducted the contributions from the employees. So, now the issue of contributions are related to employer and P.F department. Hence,the PF Department has to collect the contributions along with the interest etc., from the employer at appropriate time. For the non-deposit of contributions, employees are no where concerned and hence Department has to settle the PF/EPS or any others, with in a hour since the rest of information , everything is with the PF department only. Why the employees have to wait till 90 days to submit with the drawl form 19/A or 10D or any other forms? Why the 'Affidavit' is required? Why the family photos are required ? when ‘X’ is alive. Why the member identification moles are required? Because of delay and so many other reasons today there is about 27,000 crore unclaimed amount lying with EPFO. This is purely other un known members hard earned (sweat ) money only. When the huge amount is laying with EPFO, what is the problem to the EPFO to sanction the PENSION, if the members do not complete 10 years.
HOW THE UN CLAIMED
CONTRIBUTIONS ARE INCREASING IN PROVIDENT FUND ORGANISATION ?
We can say, it is very simple;
01.Not paying back easily the EPF & EPS settlement amounts to
the members due to lack of members complete information. Employers are neglecting to submit the information and EPFO employees escaping to collect and storage and fill the information.
02. To enrol the new company into the “ Employees’
Provident Fund Organisation’, they required minimum 20 employees. What the
employers are doing, they are creating some fictitious employees names, to get the PF A/c for the
other regular and genuine employees. Latter , from the second month on wards ,
they are removing the fictitious employees names. Thus those employees
contributions are becoming as un claimed
contributions.
03. Some employees death or after their resignation in middle, Nominees
, dependants may not have any awareness of this PF and they can not apply. Hence, the un claimed contributions are increasing.
04.Some employees
may be educated and they may know
about PF. But due to some other professions or business works , they may resign
the jobs. And they may not show much interest to claim those few months EPF & EPS etc., That is the reason , the un claimed contributions are increasing.
05. And the accumulated interest
there on, also increasing the un claimed contributions.
06.Some employees are not disclosing about PF A/c and other investments etc., to their family members. Due to these reasons, the family members are not aware this and they are not applying for the EPF and EPS etc., Please note, at present situation , real members only running around to PF offices moths together and not able claim their PF & EPF amounts. Then how the family members are able to claim without any proper documents and evidences? Hence, the un claimed contributions are increasing.
07. As on today also, most of the old members and new members do not have complete details in the EPFO departments records. Just you check and comment. viz., Father name, DOB, Family members details , Nominee, Bank a/c details and Addresses etc., with the PF department.
08. And so many other reasons etc., un claimed contributions are increasing.
06.Some employees are not disclosing about PF A/c and other investments etc., to their family members. Due to these reasons, the family members are not aware this and they are not applying for the EPF and EPS etc., Please note, at present situation , real members only running around to PF offices moths together and not able claim their PF & EPF amounts. Then how the family members are able to claim without any proper documents and evidences? Hence, the un claimed contributions are increasing.
07. As on today also, most of the old members and new members do not have complete details in the EPFO departments records. Just you check and comment. viz., Father name, DOB, Family members details , Nominee, Bank a/c details and Addresses etc., with the PF department.
08. And so many other reasons etc., un claimed contributions are increasing.
However, the un claimed contributions should become an asset to the existing and
running members.But these are not enjoying.
WHAT ARE THE ‘REFORMS’
REQUIRED IN “ EPFO”?
The following ‘REFORMS’
are required in “ Employees’
Provident Fund Organisation ”:
01.Must simplify the EPF & EPS settlement procedure. Physically with a single application along with the “Aadhar card” Xerox as well as ‘On line settlement must be implemented. Lack of this , several members are suffering to claim the their hard earned money. Hence, the 'EPFO' department must give first priority to this.
So first and must arrange to update/ link up “Aadhar card Numbers” with the old and new PF Accounts as a war foot basis. How the 'EPFO' wants collect the employees information, it is up to the 'EPFO' department. By sending the staff to the companies it may collect the “Aadhar card Numbers” and other data. Or by calling the companies representatives the 'EPFO' may collect the “Aadhar card Numbers” and other data. Or by post or through online or through phone or through social media or 'Team viewer' or Ultra viewer or Any Desk , 'EPFO' can collect the “Aadhar card Numbers” and other data to update the same. Even today also , we can expect about 30 to 40% members DATA is not filled completely. For example, martial data, fathers data, date of birth data , Aadhar number data, Cell Numbers data, Nominees data, Full Address Data and Bank details Data Etc.,
02. For any type of settlement should not take more than 2 hours. In exceptional issues, it may take 3 to 6 days. Even the employer delays to deposit PF contributions also, the Pf department must settle the member A/c and later collect from the employer along with the interest and penalty.
03. For any type of settlement must consider ‘Aadhar card number only to avoid frauds from the inside and outside people.
04. All EPF and EPS deposits and interest rates , all types of calculations must be transparent .
05. Pension service to be reduced to 6 years , instead of present 10 years of service.
06. Un claimed amounts must be transparent and to be disclosed to the public. Must find the members or nominees and transfer their PF amounts transparently without any frauds. It is the hard earned money of the members and interest there on.
07. Every EPFO office must arrange a ‘Member Balance checking Machine’ at the reception to know their PF A/c details with the help of UAN Number.
08. Each and every EPFO office must supply cooling water and provide sitting arrangements to the members.
09. For the senior citizens , must give first priority in any type of settlements.
10. PRO’s must have full knowledge of “Employees’ Provident Fund Organisation” , settlements and forms used etc.,
11. Members should have opportunity to apply within 15 days from the date of resignation. Now, everything is through on line only. Why the members should wait till 3 months?
12. While registering the employees only, must insist the employer to submit full and complete details of the employees. If required send the field officers to the respective companies to get the employees details. Or else do not accept the PF contributions.
13. Once you have the full details of employees, it will be easier to find them and intimate them and transfer the funds to their Bank Accounts.
14. The rate of interest should be increased to 9% P.A. minimum.
15. For the pension calculation, the devising factor to be reduced to 65. So that the members may get little more pension. If one employee invest same amount in mutual Funds, after 35 years , he/she will get more than that the EPFO paying now, if he / she invests the lump sum amount in any ‘Post Office’. And finally , after 1000 years also, he’s /she’s nominees will get back the principle amount as well as regular interest and in case of Mutual Funds , Dividends. In EPFO, members / nominees never get EPS deposit lamp sum amount after their death.
16. Out of un claimed contributions, must show some benefits to the existing members. Viz., by giving loans to present members, release of free scholar ships to the members children, running of 'Vrudda Ashramas' (Old age homes) to the old age pension members , conducting cultural programmes and giving prizes to the members children etc.,
17. Must create the awareness to the employees/family members as well as employers about PF schemes and their benefits etc.,
18. Must habituate the employees/family members as well as employers for the submission of necessary documents , KYC and keep the PF account properly, years together.
19. Must get the complete information about all the old and new employees and their family members , nominees , bank accounts and up date as a war foot basis.
20. When the employer delay in PF Contributions, the EPF department, collecting interest, penalties and some times imposing punishments to the Employers or their representatives . In the same way , when the claims delayed for the members due to EPF Department technical problems or any other reasons, The EPF Department must pay interest and penalties. And Officers concerned must be responsible for their delays and to be penalised.
21. Must keep the CC cameras in all PF departments and watch the employees in coming timings & out going timings, chit chatting and find why and where the negligence or bottlenecks are there in settlement of PF claims. And must take actions against negligence etc., ( To settle simple ' Superannuation settlement' the EPF department is taking more than 100 days. This type of delay , carelessness should not be repeated in future )
22. EPFO offices to be opened every 1st and 3rd Saturdays as the Banks opened. Because it is a service oriented organisation and crores of members are depended on it for their day to regular issues.
23. When the EPF department introduces 100% Digital system, the department can save crores of rupees, by removing excess employees in EPF departments. And the same can be passed on to the employers.
24. Out of present EPF staff only , must appoint 2 or 3 employees to go around the companies and collect the employees information and help the employees if they require. And also help the employers to file PF returns properly and regularly without any problems.
25. Must treat the positive criticizers as the EPF advisers and do not try for other way. Unless the 'Gold smiths' heat & beat 'Raw Gold' with the hammers , we can not find the 'Gold ornaments' to wear.
26. Higher authorities must take feed back from the members , EPF employees, employers ex members and also from the common people etc., Must check whether the higher authorities orders are implementing or not . And must see what actions to be taken at appropriate time. And try to implement the ideas of people, if these are good and possible.
27. There must be a proper and justified separate Apex body ( Not present EPFO Officers/ Commissioners) to settle the complaints of the members, like 'Ombudsman' and 'RBI' for the Banks complaints, 'SEBI' for Financial Markets, 'IRDA' for Insurance complaints and 'TRAI' for Cellular and Telephones complaints etc., And it's address , email id, Cell Numbers must be easily available to all the people. With the every judgment, there must be a change in PF employees not to repeat the careless , negligence in settling the PF issues. There must be severe punishments penalties as the PF department imposing interest ,penalties and threatening. Today we have a powerful weapon, 'RTI Act 2005, First Appellate Authority, 2nd Appellate Authority and Central Rights Commission , High Court and Supreme Court etc., for EPF /Pension and so many other issue settlements.
28. If the control is not possible on EPFO , the Govt ,Leaders Medhavi people, employees and employers must consider to make ' EPF ' as an optional to the employees to join in the EPFO, like NPS or PPF in Banks and Post offices etc.,.
"CLAIMING OF EPF/EPS AMOUNT MUST BE A MEMBERS RIGHT, BUT SHOULD NOT BE A REQUEST OR BEGGING "
If we see in RTI Act / CIC Annual reports , thousands of Applications are under RTI Act,2005 and First Appeals , Second Appeals and Complaints with the appellate authorities and thousands higher authorities are working to solve these petty issues and wasting valuable time and money. Further , If we observe closely, majority of cases or from 'Post Offices' , 'Banks' , 'Insurance Companies' , 'Provident Fund Organisations' and other Govt. Departments.
May be heavy work load of the PF members, and even hard work of the PF staff and Officers, day by day the different , different issues are increasing but not decreasing. Members are loosing their hard earned money and going around the Pf Offices , Appellate Authorities and courts. Some times , after members death , nominees are getting. If nominees are not there, the amount is becoming as Un claimed amount.
Hence , the Govt. must consider to pass the Bill in the Parliament to change the 'EPF/EPS' optional as a 'NPS'. Instead 'EPF/EPS' must encourage Mutual Funds Investments/ Post Office Investments / Bank Investments / Govt. Securities. And must bring the vast awareness like EPF/EPS. So that the people earn more than EPF/EPS amount and without waste of time, risk and mental agony. Members only can enjoy their money. But, some times, not nominees , after death of the members.
Today there are several Professionally managing "Mutual Funds Schemes'', which are providing more security, appreciation, easy liquidity , transparent, and easy ' on line updation / correction facility than EPF/EPS. In Mutual Funds there is ' Switch facility' SIP facility , Pension facility, Lump sum investments facility and at the end of the period the investors or the nominees will get lump sum amount within 3 days.(T+2). There are so many benefits without any restrictions/ complaints/ Appeals and court cases. If one poor PF member has to get Rs.10,000/- from PF Department. If he gets Rs.1Cr. after his/her death, what is the use. In case " Mutual Funds" investors need not beg any one and need not run around the PF Departments, Hon'ble Appellate Authorities / CIC till their old age, sick or death.In Mutual Funds with in 3 days of application on white paper and only one signature, the amount will be credited to their registered Bank account. Because, at the time of investment only they collect 'KYC' Application, 'Aadhar Card', PAN Card' Nominees details and Bank details etc., There is standard Application. If the details are not there as per the 'SEBI and FEMA ,RBI etc., they can not accept the application. The 'Mutual Funds' Organisations will maintain all the records perfectly for 1000's of years. Because, these are all private officers but not Govt. Officers. In Mutual Funds, after 1 day investment or after 35 years of investment, the members or nominees will get Principle (Lump sum) as well as appreciation or Dividend or Interest. In case of Long term Investment like PF 10 to 35 years, the Members may choose 'Pension', Insurance (UTI) Options etc.,. If the members keep the investment with the 'Mutual Funds', members and Nominees may get pension for 1000's years also . Besides to that at the end the period ( as the investor wish) members or nominees may get Crores of rupees as Lump sum (depending up on Investment and period.
01. For Example: 'X' person started investment with Bank 'RD Account' for 10 years (From Nov,1985 to Oct,1995) with Rs.585/-PM @6.75% interest. After 10 years the amount became Rs. 1,00,227.28 (Rupees One lakh two hundred twenty seven and paise twenty eight only).
Again the 'X' re invested the same lump sum amount Rs.1,00,000/- in "RELIANCE GROWTH FUND " Scheme (N.F.O) in October, 1995 and the 'X' was allotted 10,000 Units. (N.A.V.@Rs.10/-) . Today i.e 21.07.2017 the "RELIANCE GROWTH FUND" Scheme N.A.V. is Rs.1,063.86/-. So 10,000 Units x Rs.1,063.86 = Rs.1,06,38,600/-(Rupees One Crore six lakh thirty eight thousand and six hundred only). It means , just 21 years 9 months , the amount Rs.1,00,000/- grown to Rs. 1,06,38,600/-. It is a fact. Here, there is no guess. No assumptions. No rumours . No fictitious figures. Thus there are so many professionally managed Mutual Funds and better performing Large cap Balanced Fund/ ELSS schemes , which are running with the excellent Fund Managers and we can expect 12 to 15 % in long period of about 15 to 20 years.
In case of PF , one can expect 8 to 9% with bundle of problems.
Again , if 'X' deposits the same amount in Post offices " Senior citizens saving scheme" @ 8.3% PA 'X' may get Pension in quarterly Rs.2,20,751/-. If we convert this in to monthly pension, it will be Rs.73,583/- PM. Thus, little more or less the 'X' will or his/her nominees will get Rs.73,583/- interest like a pension PM for 1000's or 1,00,000's of years (infinitive, if Deposit continues) . In addition to that If the 'X' spend 1-2 % for Accidental Insurance with special rides every year, 'X' nominees may get Rs.30 to 1 Crore insurance , in case of un fortunate incidence of 'X'. And at the time of closing the Deposit A/c, 'X" or his/her nominees will get back the lump sum amount Rs,1,06,38,600/- as it is. Is there any other investment scheme like this, except some times investments in real estate, in INDIA?
Like this so many Mutual Funds Schemes are there. But we can not judge that all the Mutual Funds and all the Schemes perform like this. Only one should select , professionally managed Mutual Funds and selected schemes. There are about 47 'MUTUAL FUNDS' & about 2000 plus Schemes are there in INDIA. Foreigners are investing in these and earning a lot. Why should not we? And Govt. also create the awareness about the Mutual Funds and Schemes, like , now how they are making popularity to the EPFO.
N.B: "MUTUAL FUNDS INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL THE RELATED DOCUMENTS CAREFULLY BEFORE INVESTMENT".
Further, In case of 'Mutual Funds also ' as PF, there is a full security, easy liquidity and capital appreciation, high transparent, online updating/ correction facility and so many different options. There is no tension, no waste of time. In addition to that there is a close control of Apex bodies Viz., 'SEBI', 'FEMA', 'RBI' and " Central Ministry of Finance" , Prime Minister etc., There are about 47 Mutual Funds and about 2000 plus schemes are available for investments.
Here, the honest persons need not beg any one. Need not go around Mutual Funds organisations or RTA(s). They can redeem every thing through the plain paper or digital system( Online ) only. In case of EPFO (PF/EPS) there are so many obligations/Conditions/problems/Appeals/Court cases, Rejections, Dismisses etc., to get back the petty amount of PF or Pension. Every day , we can see at the PF offices and in the CIC website statistical data, how many members are suffering, how they are suffering and how long they are suffering etc.,. How many days , they can go around the PF Offices and other places. How many cases pending under the RTI Act,2005 and with the Hon'ble Appellate Authorities as of today. And when the thousands of Appeals will be settled? Hence the Hon'ble Authorities , Medhavi Sector , Govt . employees and employers must consider to amend the EPF as optional like NPS. This is in the benefit of total employees and employers and to reduce the burden EPFO Commissioners and Officers and Law & Order.
I hope the Hon'ble Prime minister may take necessary action.
Krishna murthy Margam
www.sollutions2all.blogspot.com