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Benefits to the Organisation
 
  • Cost of withholding PF monies will increase in relation to the cost of borrowing money from the bank or in the market. This will seek to create an environment that makes it cheaper to comply and expensive to under report or non-report employment and contributions in a timely manner.

  • Separate collection program will be designed and put in place that will address the issue of collection of unpaid arrears. The program will be entirely IT driven drawing information from the accounting function. Special teams in designated EPF call centers that will chase all delinquent accounts on a day to day basis.

  • Special programs for extending the reach of EPF schemes over the informal sector, migrant labour and service industry will be put in place to ensure enrolment and transfer of benefits under the programs to such categories of workers.

  • Each EPF employee (task holder) will have the information required to complete his/her task on his/her desktop terminals.

  • Retooled book-keeping & accounting function will maintain reconciled upto-date accounts in real time on a secure and shared database that will support and be accessible to all program divisions.

  • Record keeping and paper management will be organised along modern lines with IT enabled indexing for archiving and retrieval. This effort will also decongest EPF work places and improve the physical environment.
  • Special HRD effort will enhance the knowledge and skill levels of our existing officers & staff to help them adjust and absorb change in work methods.

The objective in the creation of such a system is to register geometric growth in the membership corpus of EPF/ improved customer client services.

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