PF to provide insurance cover upto Rs 7 lakh on accidental death

Chhatrapati Sambhajinagar:

The Regional Provident Fund (PF) commissioner Jagdish Tambe today informed that there is a provision with the PF office to give insurance money between Rs 2.5 lakh and Rs 7 lakh to the dependents of an employee, working in the private company or establishment or organisation under Employees’ Deposit Linked Insurance Scheme, if he meets with an accidental death during the service period.

The jurisdiction of the regional PF office comprises six districts of Marathwada. There are 25.65 lakh PF account-holders from registered organisations (establishments, factories, contractors, sugar factories, local self-governing bodies, hotels, educational societies, hospitals and others) till the last financial year. Besides, 4,136 new companies got registered with the PF office in 2022-23. Hence, in all, there are 20,196 registered companies from six districts of the region. Of which, 2.5 lakh employees and personnel pay their PF instalments regularly, said Tambe.

The office witnesses complaints relating to PF, pension, transfer, correction in date of birth, name etc daily. These outstation persons daily visit the office for their work. However, I would suggest they use an online facility to redress their complaints, and issues relating to withdrawal of EPF, handing over of the account or getting advance. All these will be redressed in 15 days, he said.

77 per cent recovery

The PF office had served notices to 462 companies and settled 414 pending cases in 2022-23. There was an outstanding of Rs 26.64 crore on them, out of which, the office collected Rs 20.46 crore. The recovery is 77 per cent including the penalty, said Tambe.

Workload increased!!

There are six districts in the jurisdiction of the regional PF office. There is a need for 147 manpower, but many of them got retired and a few of them passed away. Presently, the office is running on the shoulders of 76 officers and personnel including three officers of Class I, 26 of Class II, 47 of Class III and a few peons. The workload is high and many of them are forced to work on holidays as well, it is learnt.