Union Minister Mansukh Mandaviya launches online module for surrender of exemption
Aug 13, 2024
New Delhi [India], August 13 : Union Minister for Labour and Employment and Youth Affairs & Sports, Dr Mansukh Mandaviya launched a new 'Online facility for Surrender of Exemption from EPF Scheme' in New Delhi on Tuesday.
Speaking during the launch, Dr Mandaviya mentioned that the online facility is the first of the six modules under the EPFO Central IT System 2.01 that has been implemented in advance.
"This facility will reduce the time and effort while providing facilities such as online submission of applications, validation of applications and transfer of past accumulations of the member. It will replace the earlier system of physical submission with voluminous documents and allow the establishment to track its application with a tracking ID. This facility will benefit at least one lakh members of 70 establishments to transfer the accumulations of almost Rs 1000 crores, as and when their surrenders are admitted," the Union Minister added.
Mandaviya further mentioned that EPFO has taken several initiatives to address many of the present issues. These are the first steps of the many other initiatives that are planned in the immediate future.
He emphasized further simplification of processes for ease of members and timely delivery of new IT systems of EPFO in this calendar year.
The Union Minister urged officers to find timely solutions to current issues while having a vision for the future.
Union Minister Mandaviya also reviewed the IT interventions including the new EPFO Central IT System 2.01. He expressed satisfaction with the readiness of the facilities for the seamless implementation of ELI schemes announced in the Union Budget. He also reviewed the plans towards the new Integrated Grievance Management System.
He directed that efforts should also be made for planning for adaptation of newer technologies including Artificial Intelligence etc., in EPFOs IT system.
In the last two years, 27 companies have surrendered their exemptions, adding Rs 1688.82 crores and 30,000 employees to the provident fund under the Employees' Provident Fund Organisation (EPFO) as a result of improved services by EPFO and better benefits under the EPF scheme. It shows the increasing confidence of the stakeholders in EPFO's service and benefit delivery.
