Software to monitor PF trusts soon

Retirement fund manager Employees' Provident Fund Organisation (EPFO) will launch a software on Sunday to monitor over 2,700 Private Provident Fund Trusts regulated by it so as to improve the delivery of services.

EPFO's Central Provident Fund Commissioner KK Jalan said in a statement that the second Conference of exempted establishments held in Delhi resulted in much better interaction with the representatives of these firms.

These Private Provident Fund Trusts are those firms which manage their workers' PF account and funds themselves, and are governed by the Employees Provident Fund Scheme 1952, regulated by EPFO. The statement also said EPFO has settled more than 95 per cent of the claims in 20 days during December as compared to the statutory limit of 30 days and out of these, 30 per cent claims were settled in just three days.

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