CENTRAL BOARD OF TRUSTEES
APPROVES MODERNISATION OF EMPLOYEES PROVIDENT FUND
The Board of
Trustees of the Employees Provident Fund has given a green signal
to implement the IT based modernization project known as "Re-inventing
EPF, India". This will make the Employees Provident Fund
Organisation a world-class social security organisation offering
state of art products and services to its beneficiaries. The Board
of Trustees formally approved the Business Process Re-engineering
Report in this regard at its 158th meeting here today.
It was decided to constitute a four-member committee under the
chairmanship of Shri N. Vittal, former Central Vigilance Commissioner
and Ex-Secretary, Department of Electronics. The other two members
of the Committee will be Dr. Gulshan Rai, a senior Director, Ministry
of Information Technology and Dr. Narayan Murthy Chairman Infosys.
The 4th Member, also an IT Expert, will be appointed
shortly. The Committee will validate technology choices to fast
tract the whole project.
The other important
decision taken by the Board today was regarding provision of housing
facility to workers on a large scale. The Chairman of the Board
and Labour Minister Dr. Sahib Singh told the meeting that he has
already initiated discussions with some State Governments for
provision of land at cheaper rates for construction of houses
for workers. He said that a Committee has been constituted to
examine the feasibility of a viable housing scheme for worker
members after considering the costing logistics and funding of
the scheme including financial and logistical viability. The committee
has also been asked to examine involvement of agencies for taking
up the end-to-end responsibility of this scheme as well as the
modalities required for implementing such a scheme.
The Board also approved
a programme for imparting literacy to illiterate workers in the
organised sector. The cooperation of employers has been sought
in this regard.
Earlier addressing
the meeting the Labour Minister said that a Bill for extension
of social security benefits to majority of workers is likely to
be brought in Parliament during the budget session. He said that
the govt. is examining the amendments approved by the Board alongwith
the recommendations of the 2nd National Commission
on Labour in this regard. On meeting the housing needs of the
workers he said that during last year 1.4 lakh members of the
EPF were provided housing advance totaling to Rs.745 crore. The
Chairman said that this was not sufficient and existing mechanism
needs to be reviewed. Dr. Sahib Singh said that implementation
of Business Process Re-engineering Report is essential for improving
service and accountability of the EPFO. He said that this would
enable workers to have unique SSN (Social Security Number) as
well as an identiy Card.
"Re-inventing
EPF, India Project" is not merely a computerization project
but also a business project seeking to meet specific business
goals. It will ensure information driven cover of all the coverable
establishments, real time default detection and follow up action,
settlement of claims filed at any EPF Office in the country within
2-3 days and scientific accounting of the money of the organisation.
It will also ensure efficient fund flow management, highly effective
grievance settlement machinery and anytime anywhere service to
its member. The capital cost of the project is estimated to be
Rs. 130.05 crore.
Briefing mediapersons
after the meeting, the Labour Minister said that the rate of interest
on EPF deposits continues to be 9.5% and no change is envisaged
in it at present.
