EPFO has some fraudsters need audit

Officers tend to form nexus with crooks to fraudulently withdraw PF money from dormant or active accounts. This case in Mumbai is concerning and I have a feeling we have hundreds of such cases across India. Lets demand an audit of 100 samples over time from each office of EPFO

Several crores of Employees’ Provident Fund (EPF) savings have been drained out through fraudulent withdrawals at a regional office in Mumbai, as a result of officials of the Employees’ Provident Fund Organisation (EPFO) acting in connivance.

By Wednesday, Rs 37 crore of such withdrawals, most of which are learnt to have been partial withdrawal claims from EPF, had come to light, as per sources aware of the development.

Four officials have been suspended so far and an audit team of the EPFO has been dispatched to scrutinise transaction records at the regional EPF office in Kandivali. EPFO has confirmed that administrative and criminal action has been launched in the matter, along with efforts to recover the funds. more  

View all 6 comments Below 6 comments
All Govt organization should be audited regularly, need to be punish the culprit. more  
This fraud will exist till the Government go with heavy hand to punish them severely. The Judicial system in the country need revamping and we have to get majority to be honest and sincere and not go by what is there and draging the case for years and some one comes to reinstate the culprit with arrears to be paid. So how we can proceed to nip such frauds.? more  
i AGREE WITH MR. RAJESH RAJPUT Monthly and Annual PF statements should be be made a bye-product of the PF accounting system and distributed to all employees along with their monthly pay slips/cheques. PF contributions which are stopped should be closed within 6 months of the stoppage and accounts squared up under intimation to the employer/employee. more  
Can we adopt system of transferring PF to individuals PPF A/C ? This way individual will keep full control of his contributions. EPFO has outlived it’s necessity. As it has not been able to keep pace with technology up gradation. more  
Correct, it should be audited by authorised and competent person... more  
Post a Comment

Related Posts

    • Recovering EPF Payment grievance

      I have EPF payment due for my service as on Dec2019, due to certain personal reasons I could not take up further employment and I attempted to get back the payment due to me in December 2012 but th...

      By Nishith Kumar Mukherjee


      By Satyapal Singh
    • Withdrawl of PF

      I lost my job after May 2020. I want to withdraw my PF but I am unable to do same because my company has been liquidated n the IRP appointed by NCLT has not authorized anyone as authorize signatory...

      By Ravi Rai
    • EPFO may fund startups

      The EPFO should note that it is a custodian of the money which people who are saving for the retirement. You are not supposed to behave like a financier to fund startups.

      By Satvik Singh
    • Scheme certificate cancellation from RPFO Delhi- central

      I had submitted Scheme certificate at RPFO cuddapah at the time of submisstion of Form 10D for EPF monthly pension in the year 2017. RPFO cuddapah sent letter to RPFO Delhi-North asking cancellat...

      By K R S S Murty
    • Your EPF claim.

      Can you share your EPF Account number? (State/Organisation code number / your account no).

      By MANDALIKA Surya Narayana Sastry
    • EPF not claimed from 1996

      Sir, I was working in a pvt ltd company in 1996 with whom I have my EPF dues. How can I get my EPF now and to whom to contact to know the procedure? Thanks & Regards

      By Debabrata Nayak
    • Online withdrawal rejection

      I had UAN linked to Aadhaar/PAN/bank account but still online request got rejected showing same account linked to other UAN etc (my old UAN before new EPFO portal came up). God knows what can ...

      By Shibdas Mallick
    • Change in pension withdrawal rules coming

      Soon, the EPFO will allow withdrawal of pension contribution only after 2 years of exiting from your previous job. Right now, pension sum can be withdrawn after 2 months of leaving a job.

      By Satvik Singh
    • EPF policies are disincentivising honest tax payer

      PF tax rules change from April. Employee contributions to PF above ₹ 2.5 lakh p.a. will be taxed.. So anyone who earns more than ₹20.83 lakhs p.a. will attract interest on EPF contribut...

      By Satvik Singh
Enter your email and mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

All My Circles
Invite to
(Maximum 500 email ids allowed.)