The members™ accounts of Employees™ Provident Fund (EPF) for the previous year are updated by 30th September of the following year.
The following steps have been taken for updation of members™ accounts:
(i) In order to monitor the day-to-day progress of updation of members™ accounts, web based tool has been developed which allows timely corrective steps to liquidate the pendency at the earliest.
(ii) Employers have been encouraged to file return electronically for the period upto 2011-12 to save time for updation of accounts.
As on 31.03.2013, a total of 7.43 Lakh establishments and 12.96 crore members™ accounts are covered under the Employees™ Provident Fund & Miscellaneous Provisions Act, 1952.
The para 73 of the EPF Scheme, 1952 envisages to provide annual statement of accounts to the members. The progress of updation of members™ accounts is continuously monitored by the Officers-In-charge of the field offices as well as at Head Office of Employees™ Provident Fund Organisation.
This information was given by Minister of State for Labour & Employment Shri Kodikunnil Suresh in the Lok Sabha in reply to a written question.