Employees Provident Fund Organisation (EPFO) will migrate to a new information technology (IT) system within the next three months, Union labour minister Mansukh Mandaviya said on Wednesday.
In July last year, a clutch of officers at the retirement fund body had written a letter to the Central government complaining about archaic and “collapsing” software systems. Subscribers too were facing problems due to it.
Union minister Mandaviya made the assurance while reviewing the social security organisation’s modernisation initiatives.
The review by the union minister is part of a series of meetings undertaken to revamp the EPFO’s IT system and ensure that the transition to the new platform is smooth and timely.
The introduction of EPFO IT System 2.01 is part of the government’s broader commitment to enhancing ease of living for members and ease of compliance for employers.
Over the next few months, implementation of the EPFO 2.01 Project will ease the processes and turn-around time for various member and employer’s transactions, development of re-engineered & rationalised centralised payments & claims settlement will be taken up in mission-mode.
This will result in Centralized Claim Settlement including end-to-end auto processing of claims, centralised monthly pension disbursements, Universal Account Number (UAN) – based EPF accounting, Restructured Electronic Challan-cum-Receipt (ECR) with due statement and remittance challan and doing away with the requirements of transfer of member ID (MIDs) on change of jobs.
In FY 2024-25, EPFO has introduced simplified IT processes-auto-mode processing of all types of EPF advance claims up to Rs 100,000 leading to around 40 per cent of advance claims getting processed in auto-mode.
