The Employees’ Provident Fund Organization (EPFO) has taken significant steps to improve its operations and transparency. During EPFO’s 71st Foundation Day, the board approved a Communication Framework Document designed to facilitate the timely dissemination of information within the organization and to stakeholders. This framework will enhance communication and ensure that vital information is readily available.
In addition to this, the board also gave the green light to the Draft Audit Manual. This manual aims to standardize auditing procedures, offering a valuable resource for employee training, streamlining decision-making processes, and consolidating audit-related information. The approval of this manual will contribute to more consistent and effective auditing practices within the EPFO.
Union Minister for Labour & Employment, Bhupender Yadav, and Union Minister of State for Labour & Employment, Rameshwar Teli, inaugurated the Foundation Day event. Minister Yadav emphasized the need for EPFO to become a hassle-free and technology-driven organization, streamlining processes for both the EPFO and its members. He also expressed satisfaction with EPFO’s decision to offer an 8.15% interest rate this year, which has already been credited to over 24 crore accounts. These initiatives reflect EPFO’s commitment to serving its stakeholders more efficiently and transparently.
