Jammu, April 07: Employees Provident Fund Organisation in Jammu has attained a milestone with recording average income of Rs 75 lakh per month in its administrative account during the financial year 2022-23.
Regional Commissioner EPFO Rizwan-ud-Din said the office witnessed a growth of 31.6 percent increase from Rs 57 Lakhs per month in 2020-21 to Rs 75 Lakh in 2022-23.
The Regional Commissioner said flexible working hours helped EPFO Jammu to manage the work of claim settlement and other activities, besides inherent constraints, within limited resources.
He said highest ever income of Rs 84 Lakhs was witnessed in administrative account in March, 2023. “Return-Rejection Ratio for Regional Office, Kashmir was maintained lowest in March, 2023 brought down to 11 percent in March, 23 from 36 percent erstwhile – during the year,” he added.
Rizwan-ud-din said consistent efforts were made to ensure that the corpus of Administrative Account remains in a healthy position and keeps growing on a regular basis.
He said the Regional Office Jammu has undertaken various initiatives to augment the fund of EPF. He said the EPFO Jammu conducted seminars and awareness programmes by organizing camps like Nidhi Aapke Nikat 2.0 program at different locations besides making consistent communications for remittances of outstanding dues by many defaulting establishments.
The regional commissioner said Regular follow ups with establishments through emails and phone calls helped to increase the fund collection besides providing handholding support to the establishment to file ECRs and payment of challan.
“All these measures have resulted in significant increment receipts in EPF Account No.02 achieved a milestone of average income of ₹ 75 Lakhs per month in its administrative account during the financial year 2022-23 in comparison to the same being at Rs. 57 Lakhs per month in the year 2020-21 and Rs. 68 Lakhs per month in the year 2021-22,” the regional commissioner stated.
He said the overall growth in the year 2022-23 is Rs. 18 Lakhs amounting to 31.60 % as compared to 2020-21 which is the landmark achievement for EPFO Regional Office Jammu.
“This has not only ensured growth in income of EPFO but also indicates growth in coverage of establishments under the EPF&MP Act, 1952 and increase in the membership while ensuring timely payment of PF contributions in members’ account”.
He further stated that return rejection ratio of claims in respect of Regional Office, Srinagar was brought down from 35% to 11% through specific targeted efforts:
