Employees Provident Fund Organization (EPFO) will soon run a special recovery campaign to recover dues from its defaulting customers. An instruction has been issued by PIB Chennai regarding this.
EPFO Special Recovery Drive: Employees Provident Fund Organization (EPFO) will soon run a special recovery drive to recover dues from its defaulting subscribers. The move is aimed at keeping a check on the “growing trend of slow recovery of provident fund and related dues” and raising awareness among the people.
EPFO Special Recovery Drive: According to ET report, EPFO is going to run a campaign in December 2023 and February 2024 to recover dues from defaulter customers. Along with this, a statement issued by PIB Chennai on November 10 said that the Employees Provident Fund Organization will run a special recovery campaign from December 2023 to February 2024 to recover dues from defaulting establishments.
In a strict appeal issued by Chennai PIB, it has been said that all the employers of defaulting establishments are advised to take necessary measures for recovery like attachment of movable and immovable properties, attachment of bank accounts, appointment of receiver and arrest and detention of the employer. Pay all pending dues of EPF to avoid unpleasant consequences arising from the actions.
Let us tell you that EPFO, which manages more than 60 million customers and a fund of more than Rs 12 lakh crore, provides provident fund, pension and insurance benefits to its beneficiaries through three schemes. In August, EPFO had recorded a net member growth of 16.99 lakh.
According to an Economic Times report, the EPFO has issued a directive to its regional offices stating that the performance in recovery of both current and dues is falling short of the target set by the headquarters. As part of the initiative, EPFO has also directed its regional offices to submit weekly consolidated recovery reports on the performance of regional offices during the special recovery drive.
To address this issue, EPFO has implemented a special recovery drive during December, January and February 2024 for exempted and non-exempt establishments. The organization said the purpose of these actions is to achieve the objective of prompt recovery of dues and not to harass employers or defaulters.
