SUBSCRIBERS of the employees provident fund organisation will be able
to monitor their accounts online. This will serve the twin purpose of putting
pressure on recalcitrant employers to make regular payments and also force the
regional EPFO offices to update accounts regularly. The EPFO has reportedly put
in place a software for all its 120 regional offices for updating year-wise
accounts.
The
finance ministry had approved the 9. 5% interest announced by the EPFO for its
4. 72 crore subscribers for 2010-11 in March this year on the condition that it
would update the pending 4. 72 crore accounts within six months.
The
software for accounts update has been developed in-house by the EPFOs technical
staff .. Subscribers will only have to put in their account numbers and select
their regional offices to see the amounts in their accounts.
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