CPFC EPFO meets industry leaders, explains benefits of contributory scheme for employees

CPFC EPFO Neelam Shami Rao posing with industry leaders during a programme in Srinagar.
CPFC EPFO Neelam Shami Rao posing with industry leaders during a programme in Srinagar.

Excelsior Correspondent
SRINAGAR, May 19: Central Provident Fund Commissioner (CPFC), Employees Provident Fund Organization (EPFO) Neelam Shami Rao today visited Srinagar and held an interactive session with Confederation of Indian Industry (CII) represented by Syed Ehsan Javaid, Chairman, CII J&K Council and Employers’ Federation of India.
The session focused on increasing coverage of EPFO in the UTs of Jammu & Kashmir and Ladakh, compliance mechanism under the EPF & MP Act, 1952, major initiatives by EPFO and challenges faced by different stakeholders.
Addressing Industry leaders, Rao mentioned about Ease of Doing Business reforms initiated by EPFO and technological advancements being adapted to simplify the compliance for both workers and industry. She informed about the benefits being provided by EPFO to subscribers such as interest at the rate of 8.1 percent which is considerably higher than the present FD rate of interest at approximately 5 percent.
She suggested that Industry should continue the contributory schemes for employees once covered under the EPFO despite downsizing of the organization and at the same time also advised the PF members to retain their PF membership as there are many benefits and advances linked to the retention of membership of the schemes. She also urged Industry to timely update the KYCs of the subscribers which enables them to avail the benefits of schemes in a seamless manner.
Earlier, CPFC and other dignitaries were welcomed by Regional PF Commissioner – I, Rizwan Uddin, Ajit Kumar Mishra, RPFC – II, Harinder Singh, RPFC – II and other staff of Regional Office, J&K and Ladakh.
Dignitaries accompanying CPFC at Srinagar were Hemant Jain, FA&CAO, EPFO; K L Taneja, ACC(HQ) – Delhi, Uttarakhand, Jammu & Kashmir and Ladakh; Uma Mandal, ACC, EPFO along with other officers of EPFO.
Pertinent to mention here that CPFC is on three-day visit to Jammu and Kashmir to have important meetings at the apex level of Government of J&K regarding implementation of the Employees’ Provident Fund & Miscellaneous Provisions Act, 1952 and ongoing transition of J&KEPFO to EPFO.