Compliance of EPF Act to be examined: Govt
The Employees Provident Fund Organisation has launched a programme to examine whether establishments are complying with the provisions of a legislation on EPF.india Updated: Mar 13, 2006 14:50 IST
The Employees Provident Fund Organisation has launched a programme to examine whether establishments are complying with the provisions of a legislation on EPF, the Lok Sabha was informed on Monday.
Under the programme, at least one per cent of the establishments in each regional office or sub-regional office is to be inspected on a random basis to find out whether they are adhering to Employees' Provident Funds and Miscellaneous Provision Act, 1952, Minister of State for Labour Chandra Sekhar Sahu told the house in a written reply.
The 'Compliance Validation and Analysis Programme, 2006' is expected to provide information on non-reporting, under- reporting or evasion, he said.
All eligible employees of a covered establishment are entitled to benefits offered by the schemes framed under the Act, Sahu said.
As an when any information in respect of non-enrolment of member or non-extension of benefits is received, appropriate action, as provided under the Act, is taken.
Mercer: Certain objections were raised when the Central Board of Trustees last year approved a proposal to appoint Mercer Human Resource Consulting as consultant for suggesting investment options for EPF, Sahu said replying to another question.
The objections relate to Mercer's alleged involvement in providing inaccurate information to New York Stock Exchange in the matter of package to its chairman and charges of wrong- doing against its sister concern March Inc.
As regards the other allegations, the company clarified that events surrounding Marsh Inc have no bearing on Mercer's operations and do not affect its financial or professional capability to service its clients effectively in any part of the world, he said.
Mercer said it is an independent company, run entirely by its own management and responsible to its own board of directors.