EPFO to inform members about contributions not deposited by firms

Retirement fund body EPFO on Wednesday said it will inform its subscribers if contributions are not deposited by their employers with the body for a given month in due time.

At present, Employees' Provident Fund Organisation (EPFO) only informs about the credit of contribution to subscribers account by SMS/email to registered universal (EPF) account number holders.

"The members whose contributions are not deposited in time remain uninformed. In order to bring more transparency, it has been decided that an intimation by way of SMS/email shall be sent to members (who have registered their Mobile Number / email ID against respective Universal Account Number) in respect of whom contribution has not been deposited by the employer with EPFO for a given month in due time," an EPFO statement said.

According to the statement, the EPFO has so far been intimating its members by way of SMS on credit of their respective monthly contribution into their accounts.

Now, it said that the credit information is available through e-passbook online and UMANG mobile App as well as through missed call service for all members.

The EPFO members whose monthly contribution is regularly received may view their contribution details using any of these options.

Besides the body has also decided to publish the age-band wise estimate of all new subscribers as declared by their employers less (deducting the number of) subscribers exiting jobs every month. This information can be accessed on line.

In the recent past, the EPFO has taken a number of e-initiatives to provide services and timely information to all its stakeholders in tune with the government's motto of minimum government and maximum governance.

The EPFO has subscribers' base of over 50 million and manages a corpus of over Rs 10 trillion.