EPFO settles 118 lakh claims in FY16, 96% in 20 days
Posted on:13 Apr 2016 18:09:25
13 April 2016 Current Affairs GK:
Employees' Provident Fund Organisation (EPFO) has settled 118 lakh claims including PF withdrawals during last fiscal.As per EPFO, of the total settled claims, 96 per cent were settled within the mandated period of 20 days. The EPFO also redressed over two lakh grievances during the fiscal year 2015-16.In order to widen the social security scheme, the government took a major decision to bring all banks under the ambit of Employees Provident Fund and Miscellaneous Provisions Act employing 20 or more persons. All such banks will be covered under the Act with effect from 10th of February this year.
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