Two ways for the EPFO to give itself an image boost
The proof of a retiral kitty’s worth is in the retiring. Since a surge in bogus claims after EPFO processes went online seems like a minor explanation at best, the organization must release data in more granular detail—and sooner—for a clearer picture of the scenario. Moreover, the government’s move to tax employee contributions to the fund above ₹2.5 lakh each year necessitates accurate and quick information, so that subscribers can file their income-tax returns correctly and on time. Since tax authorities match data received from tax deductors with taxpayer declarations, all payouts need to be processed fast, failing which taxpayers could end up facing discrepancy notices or worse. As the EPFO runs the main retirement fund for countless workers in India’s vast organized sector, it must make it a point to address everything that hints of inefficiency.
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