Many companies also commit fraud in the matter of depositing money in the EPF account of employees. EPFO has taken strict steps to protect employees from such frauds. Now employees will get SMS as soon as EPF money is deposited. This will not harm them and the company will also not be able to act arbitrarily.
This is the whole matter
According to the information, EPFO has received many complaints that some companies deduct PF money of their employees every month, but it is not deposited in the EPF account on time. These companies use that money for their personal purposes and after taking advantage of it, they deposit the amount. At the same time, many companies do not even maintain any records. To control such companies and protect employees from fraud, EPFO has started upgrading its IT system like banks.
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this will be beneficial
Now the question arises that what will be the benefit to the employees from this step of EPFO? Actually, with the help of the new system, EPF members will get SMS immediately as soon as the money is deposited in their account. This will let them know that their PF money is being deposited on time. However, this information will be sent only to the registered mobile number of the members. If someone’s mobile number is not registered in their EPF account then they will not be able to get the information.
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The irregularities of this company came to light
It is noteworthy that last month, the Economic Offenses Wing (EOW) of Delhi Police had registered a case against the officials of the airline company SpiceJet. The company was accused of not depositing Rs 65 crore in the PF account of its employees. However, the company had also given clarification in this matter. He said that he has deposited a lot of money and the process of depositing the rest is going on.
EPFO gave this information
According to sources, EPFO officials have confirmed the upgrading of the IT system. He says that EPFO is currently working on the old system, which there are plans to upgrade like banks. It has been named EPFO 3.0. With this, the complaints of members will also be resolved faster. Also, fraud will not be registered against them. At the same time, companies will also not be able to make irregularities in depositing PF money.