Srinagar, March 29: The 113th meeting of the Executive Committee (EC) of the Central Board of Trustees (CBT), EPF was held in Srinagar on Saturday that reviewed the key digital reforms including pension processing.
The meeting, chaired by Sumita Dawra, Secretary, Ministry of Labour and Employment, was attended by Ramesh Krishnamurthi, Central Provident Fund Commissioner, EPFO, along with senior officials from the Ministry of Labour and Employment, EPFO, and representatives of employers and employees. The Executive Council reviewed EPFO’s digital initiative to enable instant Provident Fund (PF) claim settlements through UPI, ensuring direct credit to members’ bank accounts. CDAC, in collaboration with SBI and NPCI, is developing APIs and system integration as part of EPFO’s CITES 2.01 IT modernisation project.
The committee welcomed the proposal to increase the auto-claim limit to Rs 5 lakh, recognising it as a significant step towards enhancing the ease of living for EPF subscribers. EPFO reported successful hardware upgrades and progress in consolidating decentralised databases. Modules for User Management, Centralised Payments, and a Re-engineered ECR are undergoing rigorous testing and are set for deployment within the next two months. Despite challenges, EPFO reaffirmed its commitment to timely implementation. The EC appreciated the 22.8 percent increase in processed PoHW applications and a 29.5 percent rise in issued demand letters compared to the previous month. These improvements underscore EPFO’s determination to implement the Supreme Court’s directives efficiently. The Chairperson emphasised the importance of public awareness regarding EPFO’s governance reforms through print, electronic, and social media campaigns. The meeting concluded with discussions on finalising a strategic roadmap aimed at transforming EPFO into a member-centric, technology-driven organisation.
