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EPFO is the largest social security organization in the world. There are currently 277 million accounts. At the same time, he is managing a fund worth Rs 20 lakh crore. Currently this organization is under a lot of pressure. According to a letter obtained by Hindustan Times, officials say that claims settlement is being delayed due to growing software problems. Due to which officials are held responsible.
The root cause of the entire issue is believed to be EPFO’s IT system. Officials say the IT system has become unpopular. The current system has increased the pressure on officials.
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What is written in the letter?
November 1 is the 71st foundation day of EPFO. Earlier, the Employees Provident Fund Officers Association (EPFOA) has written to the government. It is said that claim rejection ratio is an important parameter to review the performance. According to the letter, it cannot be brought down without better software. The letter states that currently EPFO is working on “GIGO” principle. In IT parlance, GIGO stands for “Garbage In, Garbage Out”.
“The system has deteriorated over the last few years”
The association said in its letter that we are struggling with the software infrastructure. In the last 2 to 3 years it has gone from bad to worse. The letter said, “Our legacy software is the backbone of claims settlement. The pressure on him has increased so much that he cannot even do his daily work properly. Saurabh Swamy, general secretary of the association, says that according to the changed rules, now the claim has to be settled within 20 days. Failure to do so will result in payment with additional interest. For which officers are responsible.
Payment to be made within 20 days
“The law clearly states that all claims shall be settled in full and payment shall be made to the beneficiary within 20 days,” the letter said. Monitoring unfilled claims as a performance metric is against the provisions of the schemes. “But officials are still being targeted for denying invalid claims.”