Thanks to the implementation of a computerisation project, Provident Fund (PF) subscribers, who come under the purview of the Visakhapatnam Sub Regional Office of Employees PF Organisation (EPFO), can hereafter be assured of early settlement of PF claims.

Regional PF Commissioner Ajeet Kumar issued the first cheque under the new application software, minutes after launching the first phase of the modernisation project at the EPFO here on Wednesday. The cheque was paid through the National Electronic Fund Transfer (NEFT) system through which the proceeds of the cheque would be credited to the member’s account within three days.

Interacting with the media after the launch, he said that claims that have been submitted on Tuesday have already been processed. In all, 10 claims have been processed minutes after the launch of the new system. Though he didn’t rule out initial hiccups in the system that could sometimes lead to delay in processing of claims by a couple of days, he said that the project was designed to provide efficient, accessible and timely services to the member subscribers and employers.

Mr. Ajeet Kumar said that the greatest advantage of the system was that it provides complete transparency and responsiveness in the processing of claims. As soon as the claims were received the data would be uploaded and there was no chance of jumping the queue or changing the order of priority.

He said that intra-office integration has already been done and inter-office integration was expected to be completed by January next year. In the final phase, that was expected to be completed by December next year, all the member subscribers and employers would be given user id (identity). The subscribers could check their accounts online and employers could also make payment online. The system would enable the EPFO to issue notices to defaulting employers through the system.

The computerisation project would benefit 8,03,967 EPF members of 7,585 establishment under the territorial jurisdiction of Visakhapatnam SRO, which covers Srikakulam, Vizianagaram and Visakhapatnam districts.