Monthly updation of provident fund accounts
Posted on: 03/Sep/2013 4:41:54 PM
The provident fund account will be updated monthly from October 2013. KK Jalan, Central provident fund commissioner said that Employees` Provident Fund Organisation (EFPO) all set to launch a system on September 6 which will update accounts monthly. This is an EFPO initiative to make the system customer friendly.
Also, they are planning to shift to core banking solutions for 40 lakh pension accounts, so the pensioners will receive payment timely, first day of every month. "We hope to introduce this system this fiscal," Jalan concluded.
