A Parliamentary Standing Committee has pulled up the EPFO for delay in updating accounts, despite a directive to all its field offices to complete the process by December 31, 2011.
In its report on the action taken by Labour Ministry, the Parliamentary Standing Committee on Labour, headed by Mr Hemananda Biswal, asked the Employees Provident Fund Organisation (EPFO) to send a compliance report to this effect.
The Committee also wanted the EPFO to send a statement of account to each beneficiary by the end of each financial year.
There are over 5 crore subscribers who have entrusted their retirement funds with the EPFO.
DEFAULTERS' LIST
The Standing Committee also asked the Labour Ministry to furnish a list of defaulters against whom prosecutions have been filed under Section 14 of the Employees' Provident Fund & Miscellaneous Provisions Act, 1952.
Earlier, the panel had recommended that a cut-off date, either of the calendar year or the financial year, be set for submission of returns from employers. This would help identify cases of deviation, if any, and enable the EPFO to have information about defaulting employers. It would also help the Ministry keep track of all accounts, the panel said.
In its reply, the Labour Ministry said that the existing cut-off date (one month from the expiration of the period of currency of the contribution cards) was not being strictly followed by employers, who default in submitting statutory returns.
The Standing Committte, while recommending a monthly target for enforcement officers to visit defaulting establishments, said these officers should report to the regional provident fund commissioner with details of the establishments visited, the number of visits paid by them to that particular establishment(s) and the outcome thereof etc.