EPFO settles 99 lakh claims in April-January period

Retirement fund body EPFO has settled 99.20 lakh claims including PF withdrawals till January this fiscal out of which 96 per cent were settled within stipulated 20 days.
"During April 2015 to January 2016, EPFO settled 99.20 lakh claims. Of this, 40 per cent were settled within 3 days and close to 80 per cent within 10 days. Also, 96 per cent of the claims were settled within the stipulated 20 day period," the Employees' Provident Fund Organisation (EPFO) said in a press release.
Central Provident Fund Commissioner H L Samaria has recently reviewed the performance of the body, as per the statement.

EPFO's advisory body Finance, Investment and Audit Committee(FIAC) has empowered Central Provident Fund Commissioner to facilitate Collateralised Borrowing and Lending Obligation (CBLO) borrowings up to 30 days on a case-to-case basis, subject to ratification by Central Board (EPF).
The statement said that a major area of concern for EPFO is streamlining enrolment of workers in establishments that are spread over multiple locations.
To ensure enrolment of such workers, the onus is on the field office under whose jurisdiction such employees are working irrespective of the fact whether they belong to an establishment which has been issued the PF code number by another field office, it said.

The field office within whose jurisdiction such employees are working is referred to as "Local office" for the purpose of ensuring compliance of such employees under the Act.
It said that more than 2.31 crore UAN have been activated by the EPF members by January end.
The month also saw EPFO redressing more than 17,000 grievances leaving only 3,186 pending, it added.