Efforts On To Bring Transfer Claims Online Soon: Stated K K Jalan during an Interaction at PHD Chamber

By 1 2 1 News Reporter

Chandigarh 28^th June:--The problem of settlement of dues and transfer of PF accumulations from one establishment to another and from one state to another will be resolved soon as the online system will make things easier for the employees said K K Jalan, Central Provident Fund Commissioner during an interaction today at PHD Chamber with industry representatives across the States of Punjab, Haryana, Himachal Pradesh and U.T. Chandigarh and Trade Union representatives from BMS, AITUC, INTUC, CITU etc.

While briefing the issues of the employers with respect to delays, objections levied on the claims, meagre PF interest rates and low pension funds for the dependents in case of retirement or death, the Commissioner stated that the Provident Fund department has made revised parameters for investment which has already been approved by the trustees and the interest rate for the next year may be revised from 8.25% to 8.5% which is in process and may be declared soon.

However, regarding demand of enhancing the ceiling of Rs 6500 in order to become a member of the fund, Jalan said that these are legislative issues to be decide by the elective Govt though the voice of beneficiaries would definitely be conveyed to the higher ups in the system.

Appreciating that the EPFO, India's one of the largest provident fund institutions in the world in terms of members and volume of financial transactions that it has been carrying on, Mr Dalip Sharma, Regional Director, PHD Chamber said, "People should find value while associating with the EPFO rather than being forced to join it." He appreciated the efforts of PF department for publicising the benefits of EPF and its scheme to the people. He said that the purpose of today's intercation was to discuss the difficulties faced by the employers and employees while taking claims and transfers and hoped that the interaction of the participants with the expert faculty will help in resolving various doubts and difficulties for faster settlements of claims.

The Industry members lauded the initiatives taken by PF department for incorporating the IT system in this fast moving IT world and bringing the whole process online which shall considerably reduce the burden of common man.