EPFO playing key role in providing social security, financial stability to millions: Union Minister

The Employees' Provident Fund Organisation (EPFO) has played a pivotal relation successful providing societal information and fiscal stableness to millions of members crossed the country, Union Minister for Labour and Employment, Dr Mansukh Mandaviya, has stressed.

In his keynote code astatine an lawsuit successful the nationalist capital, Dr Mandaviya lauded the transformative travel of EPFO, underscoring its captious relation successful managing a immense corpus of savings for its members and enhancing societal information provisions crossed the nation.

The curate besides stressed the value of robust IT platform, businesslike strategy for grievance absorption and the implementation of subordinate centric exemplary of work delivery.

Dr Mandaviya urged EPFO employees to clasp the organisation's slogan, “Hum Hai Na”, reminding them regular of their work to service the people.

He emphasised that existent work is measured by the interaction employees marque whether by assisting those successful request oregon addressing issues.

The curate further encouraged to summation pension sum with a absorption connected enhancing past mile transportation of services.

He called connected EPFO's officers and unit to uphold the highest standards of integrity, dedication, empathy and professionalism successful their work to members.

“Continuous accomplishment enhancement and capacity-building efforts wrong the organisation are paramount to adapting to evolving challenges and improving work delivery,” said the minister.

Meanwhile, the fig of contributing members to the EPFO has risen by 7.6 per cent to 7.37 crore successful 2023-24 from 6.85 crore successful 202-2023 portion the fig of establishments making contributions to the organisation has risen by 6.6 per cent to 7.66 lakh during this period.

The EPFO besides saw an summation of 55.4 per cent to Rs 5,268 crore successful realising arrear dues compared to the corresponding fig of Rs 3,390 crore successful the erstwhile year. There was besides an summation of 7.8 per cent successful the fig of claims settled implicit the erstwhile twelvemonth (4.45 crore from 412.86 crore). The Executive Committee recommended the study for adoption to the Central Board, the property connection added.