News Details

( As on 02/11/2023 10:24)

EPFO board approves framework for timely dissemination of information

On Wednesday, the Employees' Provident Fund Organization (EPFO) approved a Communication Framework Document aimed at ensuring the timely and effective dissemination of information within the retirement fund body and among its stakeholders. Additionally, the EPFO board granted approval for the Draft Audit Manual, which is designed to standardize audit procedures, offer a valuable training resource for employees, streamline decision-making processes, and centralize audit-related information within the EPFO, as stated in an official announcement from the Ministry of Labour & Employment.

These decisions were made during EPFO's 71st Foundation Day, which took place on Tuesday. The board also greenlit a Draft Exemption Manual, aimed at optimizing procedures, enhancing training efforts, and consolidating information. Union Minister for Labour & Employment, Bhupender Yadav, and Union Minister of State for Labour & Employment, Rameshwar Teli, inaugurated the Foundation Day event.

Minister Yadav encouraged EPFO to transform into a technologically advanced and hassle-free organization. He expressed his satisfaction that EPFO is offering an 8.15 percent interest rate this year and has already credited interest in over 24 crore accounts, as noted in the ministry's statement.