PF transfer of accounts after the death of a member for calculation of Assurance Benefit under the EDLI Scheme 1976
News/Article Date: 25th November’2023
Relating to which Act: The Employees Provident Funds & Miscellaneous Provisions Act, 1952
Penalty under the Act: Whoever, to avoid any payment to be made by himself under this Act [the Scheme, the [Pension] Scheme] or the Insurance Scheme] or of enabling any other person to avoid such payment knowingly makes or causes to be made any false statement or false representation shall be punishable with imprisonment for a term which may extend to one year, or with a fine of five thousand rupees, or with both].
Applicable to which State: Whole of India
Type: EPFO Circular No. Pension / EDLI matters / 2023 / 2168 dated 25th November 2023 issued by Additional Central PF Commissioner HQ – Pension & EDLI
Pertains to: Deceased members and beneficiaries
Relevance of this news: Karma Global has been in the business of HR Services, Payroll, Outsourcing, and Regulatory Compliances right from its inception in 2004 and since then, has brought in a lot of efficiencies and technological upgradations with experts on its roll, to ease the hassles of Payroll Processing, Temp Staffing, On-boarding, Employee Life Cycle, Statutory, Regulatory, and Payroll compliances by providing customized solutions to all its elite clients.
Now Karma Global is also fully in labour compliance for nearly 18 years and is helping both establishments and workers fulfil obligations as per the laws of the land. It has over 200 staff, both direct and indirect on its rolls and operates on a PAN India basis. Recently, it has diversified into foreign shores as well, into countries like the US, UK, UAE, Canada, Philippines, and Asia for handling payroll, outsourcing, recruitment, and governance.
And in the current instance
Several instances have come to the notice of the Head Office that in the settlement of EDLI claims of the deceased members, beneficiaries are receiving very little amount.
While analysing the data on the settlement of death claims, it has been observed that in several cases the deceased members had multiple PF IDs (A/C) linked to their respective UAN. This makes verification of membership of the deceased from the MIS, a prerequisite before settling the death claims, as this facility is not available in the F.O. interface or the application software.
If this manual verification from MIS is not done, then benefits to the intended beneficiaries are adversely impacted.
Subject: PF transfer of accounts after the death of member for calculation of Assurance Benefit under the EDLI Scheme 1976