EPFO Should Strengthen
EPFO should strengthen for smoother life for EPF members and their families
In two back-to-back moves as a follow-up of a meeting with Prime Minister, Narendra Modi, the Employees’ Provident Fund Organization (EPFO), it has mandated that death claims be settled within seven days, and retirement cases before the retirement of the employee.
This was quickly followed by another set of instruction by the CPFC that “PF claim settlement amount must invariably be credited to the member accounts on or before the date of retirement.”
The directives come after Prime Minister,Narendra Modi expressed his desire for smoother EPFO procedures at the PRAGATI (Pro-Active Governance And Timely Implementation) review meeting on October 26.
The seven-day deadline for paying death claim dues is the more important one since the family or nominee of EPFO members who has died might be in facing financial stress due to the sudden stoppage of monthly flow of income. There might be several expenses that need to be covered and the provident fund money might be one of the only meaningful savings for many households.