Recent Amendments in the PF Act

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with Employees’ Provident Fund Organization (EPFO) organized an interactive meeting on “Recent Amendments in the PF Act” with Regional Provident Fund Commissioner, Hyderabad Zone Mr. N. Narayanappa on 5th March 2011 at Surana Udyog Auditorium, Federation House, FAPCCI, Red Hills, Lakdi-Ka-Pul, Hyderabad.

Mr. Shekhar Agarwal, President, FAPCCI, Mr. K. Srinivas, Assistant Director, Regional Provident Fund Organization, Mr. V.S. Raju, Senior Vice President, FAPCCI, FAPCCI, Mr. S. Subba Rao, Chairman, HRD & Industrial relations, FAPCCI, Mr. M.V. Rajeshwara Rao, Secretary General, Mr. V. Kumar, Co Chairman, HRD & Industrial relations and many professionals from the industry participated at the interactive session.

Mr. N. Narayanappa said in his key note address that EPFO extends the services to employee like maintaining PF accounts, Employee Pension Accounts, Employee Deposit linked insurance scheme. EPFO also offers housing, medical and marriage loans to the scheme holders and the disbursements will be made within 30 days to the beneficiaries. Recently all the municipal workers also covered under the Employee Provident Fund Scheme. In order to address the problems regarding PF recently e-Filing facility has been introduced. All the PF office was computerized and the services would be more effective in the future. During interactive session the PF officials clarified the queries raised by the participants.

Mr. Shekhar Agarwal requested request Sri M. Narayanappa to kindly apprise on this new module and several other initiatives of the Provident Fund, for the information and benefit of the participants.

Every year annual statement of accounts showing the total accumulated contribution including the interest earned is being sent to each member through the factory or other establishment where the member was employed. However, the accumulation fund towards the pension fund is not included in the statement of account. This may kindly be taken up with the Central Provident Fund Commission, so as to keep informed each member about the pension fund also.

Mr. K. Srinivas presented power point presentation on e-Filing system and distributed EPFO e-Filing software freely to the participants.

Mr. V.S. Raju honored the guests and offered vote of thanks.

Mr. M.V. Rajeshwara Rao welcomed the guests.