EPFO Circular on Real-Time Monitoring and Ranking System
As per the EPFO circular dated 21st September 2017, the EPFO has stated that subsequent to the introduction of the new software, real-time monitoring of exempted establishments has also commenced. All exempted establishments/employers are required to file the statutory online returns on time, i.e., on or before the 25th of the month following the one to which it relates. However, PF-exempted establishments are still not filing the statutory online returns.
Six-Point Parameter System for Performance Monitoring
Thus, the EPFO has introduced a six-point parameter system. Based on this system, a rank list for performance monitoring of PF-exempted establishments shall be prepared for the preceding month in which returns are required to be filed. This list will be published on the EPFO website on the first day of the succeeding month.
Objective of the Ranking System
The system of ranking the establishments has been envisaged to develop healthy competition among the exempted establishments and to enable the concerned organizations to evaluate their performance.
As per the EPFO circular dated 21st September 2017, the EPFO has stated that subsequent to the introduction of the new software, real-time monitoring of exempted establishments has also commenced. All exempted establishments/employers are required to file the statutory online returns on time, i.e., on or before the 25th of the month following the one to which it relates. However, PF-exempted establishments are still not filing the statutory online returns.
Six-Point Parameter System for Performance Monitoring
Thus, the EPFO has introduced a six-point parameter system. Based on this system, a rank list for performance monitoring of PF-exempted establishments shall be prepared for the preceding month in which returns are required to be filed. This list will be published on the EPFO website on the first day of the succeeding month.
Objective of the Ranking System
The system of ranking the establishments has been envisaged to develop healthy competition among the exempted establishments and to enable the concerned organizations to evaluate their performance.
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