The number of notices to employers for defaulting on provident fund (PF) payments is on the rise. The Employees' Provident Fund Organisation (EPFO) has started using technology extensively to track provident fund payments, according to human resource (HR) consultants.
The retirement body is using data mining and data analytics to zero down on defaulters. “Every month the EPFO system does an area-wise analysis of employers’ contributions. If there are discrepancies or the contribution is low, EPFO looks at the reasons and sends notices,” says Prakash Rao, founding member and chief experience officer, PeopleStrong.
Defaults happen due to a variety of reasons. The