Recently the news has come on the internet that the Employees’ Provident Fund Organisation (EPFO) officials world’s most extensive social security organization boasting over 277 million accounts and a fund corpus of around 20 lakh crore, have communicated their concern about being under “extreme pressure”. Since the news came on the internet it circulated on many social media platforms. This news became a topic of discussion as this news left many questions in people’s minds. Now many people are super curious to know about the whole information about the news. Here we have more information about the news and we will share it with you in this article.
As per the report, this pressure limbs from the recent reversal to manual annual account updates by the EPFO, while they have been kept responsible for any delays in claim payments beyond the specified 20-day timeframe. The source of this matter lies in the organization’s outdated IT system, which workers sense as obsolete. Since the news went out on social media platforms many people have been stunned and now they want to know complete information about the news. Scroll down to the next page for more information about the news.
Reportedly, weeks before the suggested grand celebrations of EPFO’s 71st Foundation Day on 1 November 2023, the Employees’ Provident Fund Officers’ Association (EPFOA), in a letter to the government stated while declarations denial ratio is an “important barometer ” to investigate performance, this metric “Can’t be brought down without software intervention” as organization’s current software has been operating on “GIGO” principle. In information technology (IT) “garbage in, garbage out” (GIGO) indicates a flawed input will result in a faulty output. You are on the right page for more information about the news, so please read the complete article.
As far as we know, on 3 October 2023 in a letter addressed to EPFOA, CPFC stated,” Our current application software on size of our operations is run is of 2008 vintage”. It recorded some of the standard software under use- Windows Vista (2008), IOS 3 (now IOS 17 is available), and Android version 1 (now version 14 is available). We comprehend that the Centre for Development of Advanced Computing had, sometime in the year 2019 given a comprehensive expense for procuring the said recommendation. Here we have shared all the information that we had if we get any information then we will update you super soon. Stay tuned to us for more updates.