Friday, June 13, 2008

In-efficient EPFO, India

Like all salaried professionals I too contributed a percentage of my base salary to Employee Provident Fund Organization (EPFO) for 2 years while I worked at IBM India. IBM India's EPFO account was with EPFO Karnataka, which had an accounting lag due to which EPFO could never inform me about the total balance in my account while I was working in India.

Now it has been almost 2 years having left India and I have not yet received any update from EPFO on my account balance status despite asking for it several times.

I am wondering when EPFO can not even tell me the balance in my account, how can it be trusted to manage my PF funds to ensure government guaranteed return of 8 or 8.5% ! Thank god, I only have 2 years of PF contribution.

6 comments:

Anonymous said...

Mr Ankur ,
Can I have your PF account no?Information posted in your blog
seems factually incorrect.EPFO every year issues annual pf account slips in respect of each employee of an establishment whose
contribution has been remitted.Its employer's duty to distribute the PF statement slip to all concerned
and your employer must have done it.Have you ever asked your employer about this?
EPFO's 40 million subscriber cutting across all strata of society and income group, 2.6 million pensioners and four lakh establishments are testimony of its trust.
Anyway,I 'd request you to kindly
register your query on www.epfindia.com (csutomer service)
and difintly i would get back to you with reqired information.
Looking forward for your query...

Ankur Katiyar said...

Mr. Anonymous, Appreciate your comments.I understand the complexity and volume of data EPFO deals with - but that is no excuse for inefficiency.
I emailed about my PF status to these email IDs (rpfcbglr@dataone.in,
rpfcbglr@vsnl.net,
cpfc-epfo@nic.in)on 24May2008.
I got an autoreply from (rpfcbglr@vsnl.net) "PLEASE MAIL YOUR QUERIES TO OUR NEW MAIL ID
rpfcbglr@dataone.in". I did so promptly - since then no reply.
Is is not inefficiency?

The information in blog post is correct to best of my experience.

gautam said...

Mr.Akur,
you can mail your details
at this id: csd.epf@gmail.com.
may be I can help you to get the
required information.

Anonymous said...

Hi Ankur

I Agree with you. I have been with IBM for over two years & have not received my PF balance statement EVEN ONCE.

i Don't even know my Balance in my PF account.

Anonymous said...

i think you are not aware that all the offices of epfo india is linked and also balance is available on online. if you must have your correct company's code no and your individually code no. then you all are easily check you balance through epfindia.com

Pavan said...

same is the case with me . have worked with IBM for 3 years but havent got the PF staatement not even once.