EPFO To Launch E-Inspection System, Minimise UAN Mismatch Issues
EPFO will launch an e-inspection system that will simplify inspection process and ensure organisations with open communications will not be subject to physical inspection until absolutely necessary, according to Central Provident Fund Commissioner Sunil Barthwal.
EPFO (Employees’ Provident Fund Organisation) proposed to amend the Act to limit enquiry period to a maximum of two years in order to curtail harassment, he also said at a Confederation of Indian Industry-organised interactive session.
A small percentage of employees are unable to generate UAN (a 12-digit Universal Account Number to all employees entitled to EPF) due to mismatch in data, Barthwal said, adding to address this issue, the EPFO is looking at alternative authentication vis-a-vis the employee database.
“The EPFO is working towards a three-day settlement period for KYC (Know Your Customer) compliant beneficiaries who have UAN linked to Aadhaar, have a bank account and a registered mobile number,” the release ..
EPFO is planning to set up a society of self-regulating consultants, alike to ICAI (The Institute of Chartered Accountants of India), to curb misuse and corruption.It was also proposed to decriminalize defaulters and treat the cases as economic offences.