EPFO officers' performance closely watched: Govt

The Government today cautioned officers of retirement fund body EPFO against any delay in settlement of claims and updation of account, saying their performances would be closely "watched".

Labour and Employment Minister Mallikarjun Kharge said the Finance Ministry had also raised a concern over the large pendencies while clearing a proposal to raise interest rate of EPFO subscribers to 9.5% for 2010-11.

"Ministry of Finance while agreeing to our proposal of 9.5% interest for 2010-11 advised that 4.72 crore accounts pending as on 31 March 2010 should be updated by EPFO. I have given an assurance to the finance minister that pending account should be updated by September 16, 2011," he said.

Addressing a meeting of the Employees Provident Fund Officers (EPFO), he said there were 11 such offices legging in this respect and directed big offices in the metros to "gear up and meet the targets".

"In accounts updation there are still 11 offices which have still a workload in the two to 10 lakh accounts for updation. This is not acceptable. The officers who lag behind would be closely watched," he said.

Kharge, however, noted that a sincere effort has been made in updation of accounts and only 60 lakh of the 4.72 crore accounts needs to be updated.

"The 2009-10 account will also be updated by September 2011," he said.