CPFC, EPFO holds interactive session on social security benefits under EPF & MP Act, 1952

STATE TIMES NEWS

GULMARG: Central Provident Fund Commissioner (CPFC) and Chief Executive Officer Employees’ Provident Fund Organisation (EPFO), Neelam Shami Rao on the second day of her three-day visit to Jammu and Kashmir on Friday held an interactive session with employers of different organisations here.
Hemant Jain (ICAS), FA&CAO; K. L. Taneja, ACC(HQ) and Rizwan Uddin, RPFC – I and other officers from EPFO were also present on the occasion.
Representatives from Saifco Cements Pvt. Ltd., Sutlej Textile Mills, NHPC, Khyber Group and other organisations participated in the session. The session mainly focused on ongoing transition of JKEPFO to EPFO, social security benefit available under the EPF & MP Act, 1952 and the schemes framed thereunder, major initiatives by EPFO and challenges faced by different stakeholders. During the session, Neelam Shami Rao, CPFC addressed the gathering about the difficulties of various nature ranging from technical, to legal and bureaucratic nature encountered during the transition process of JKEPFO to EPFO and efforts being taken by EPFO to resolve such challenges. She assured the participants that issues pertaining to technical side are being resolved with promptness.
The CPFC requested the employers to voluntarily come forward in team spirit and in partnership mode for effective implementation of the EPF & MP Act in the UT of Jammu &Kashmir. She also cited beneficial features of EPF Act like Higher rate of interest, large insurance benefits, pensionary benefits etc.
During the session, Hemant Jain, FA & CAO cited the benefits of the ABRY scheme which the establishments have availed. He also stressed that these benefits may not be reaching to the intended beneficiaries especially contractual workers and advised establishments to make use of Principal Employer Dashboard facility available on the EPF website to check compliance position of the contractors.
The FA&CAO also stressed on completing the KYC of the members so that they can avail the social security benefits without any hindrance. He, further, stated that the Rate of Interest declared by EPFO is way above than those declared by other similar schemes & bank instruments. He exhorted representatives present in the meeting to bring more employees under the coverage of the Act.
On the occasion, K. L. Taneja, ACC (HQ) (DL, UT & J&K and Ladakh) highlighted that all those eligible employees who were deprived off the pension are now covered under the Employees’ Pension Scheme after the implementation of the EPF & MP Act, 1952 in the UT of J&K and Ladakh from 1st November 2019. He added that in case of any causality, the pension will be paid to the widow/widower, children of the deceased member while as in case of disability, the employee will be given pension throughout his life. It was also emphasized that an employee who is continued to be in service tenure for 10 years up to the age of superannuation (58 years) under EPFO will be eligible for pension benefits under EPS 1995.
Rizwan Uddin, RPFC-I, RO J&K and Ladakh, while speaking during the session, cited the importance and benefits of the Employees Deposit Linked Insurance scheme, 1976 and the Employees’ Pension Scheme, 1995 which the subscribers of J&K and Ladakh were previously deprived off or benefits were considerably lesser than that of EPF Act.
The interactive session was followed by Q&A session in the CPFC and other officers of EPFO addressed several issues and concerns of employers.