Provident Fund Regional Commissioner Indira Thirumalaraju has said PF subscribers could avail themselves of several value added products like UAN (Universal Account Number) with SMS alerts on their savings.
She said they had introduced new additions to ensure seamless flow of information and protection to the workers under the Social Security Act. She was addressing an interactive meet conducted here by the AP Chambers of Commerce and Industry Federation. She also reiterated that the Chambers should raise the voice during the deliberations stage for bringing the much-needed reforms for pro-active implementation to ensure ease of doing business.
Federation State vice-president G. Sambasiva Rao said non-bailable arrest warrant for default of payment of PF in the current provision should be immediately made bailable. “There is every possibility that the enterprise can become sick due to the entrepreneur landing in jail. Reopening of books of accounts beyond five years is causing a lot of difficulties ,” he stated. Federation director O. Naresh Kumar suggested that high interest rate and penalty levied for delay in payments was causing financial strain to companies leading to sickness.
