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April 2012

EPFO to begin end of Inspector Raj

By Tarunkumar Singhal, Raman Jokhakar, Chartered Accountants
Reading Time 1 mins
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Senior officials say the EPFO will begin the process on April 1. That will eliminate the need for any EPFO officer to personally inspect company records. In the new system, the EPFO will ask companies to voluntarily disclose all information required to comply with the EPF Act. Based on the information, the EPFO will devise parameters to discover defaulters. The parameters will change each year to avoid companies being compliant with only certain parameters.

“At present, if there is any complaint then the enforcement officer goes and does the inspection. In some cases, his personal biases and prejudice colour his work. We want to eliminate that,” said a senior official. Corruption cases against EPFO employees have been on the rise in recent months. Last July, the Central Bureau of Investigation registered cases against nine senior officials of the EPFO for causing a loss to the exchequer amounting to Rs.169 crore.

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