payout of EPFO Claim: EPFO provided an update about the delay in PF claim payout; see details
The Employees' Provident Fund Organization provided a startling explanation for the postponement of the payout of PF claims. Under EPFO, there are around 27.7 crore accounts.
Employees Provident Fund: A senior representative of the Employees Provident Fund Organization said that the need for human labor has risen owing to the many issues arising from software updates. The officers are under greater work pressure than they were before, and claim settlement is delayed in such a scenario.
The senior official reportedly said that the 30-day claim settlement period has been reduced to 20 days, according the Hindustar Times article. Owing to issues with the IT system, data must be updated manually. Authorities claim that the delay is the result of the outdated IT system.
sent a letter to the authorities
On November 1, 2023, EPFO will commemorate its 71st foundation day. The Employees Provident Fund Officers Association has previously corresponded with the government by letter. Hindustan Times reports that the letter states that lower claim rejection rates are not possible in the absence of improved software. GIGO software is now being developed by EPFO.
On October 3, EPFO said that the majority of the applications we use now date back to 2008. Among them is a list of standard apps, which includes Windows Vista 2008, iOS 3, and Android version 1. According to EPFO, a proposal to enhance it was made in 2019. But there was no hearing on this.
EPFO is having software issues.
Let us inform you that EPFO has been dealing with serious software infrastructure issues for the last several years, and that things have become worse over the past two to three years. Under the Employees Provident Fund Organization, there are around 27.7 crore accounts with deposited money totaling over Rs 20 lakh crore. This is the biggest social security agency in the world.
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