2000 - 01 - Epfo

The organisation functions under the overall superintendence of the policies framed
by the Central Board of Trustees, a tripartite body headed by Union Minister for Labour as
Chairman. The Chief Executive Officer of the organisation is the Central Provident Fund
Commissioner is an ex-officio member of the Board and its Secretary .:
PERFORMANCE DURING 2000- 2001
Coverage of Establishments and Enrolment of Members
During the year 14,258 new establishments were brought under the purview of the
Act and 34.11 lakh new member subscribers were enrolled.
Contribution
& Investment
During 2000-2001, an amount 0f Rs. 15090.41 crores was collected as against Rs.
13978.46 crores during the previous year registering an increase of Rs. 1111.95 crores.
Investment increased by Rs. 617.56 crores from Rs. 14919.05 crores to Rs.
15536.61 crores during the year 2000-2001.
Provident Fund & Other Arrears
Provident Fund & other arrears at the close of the f:;-;,lncial year 2000-2001 stood at
Rs. 1184.10 crores as against Rs. 1058.30 at the end of the previous year. Out of the
outstanding default, Rs. 945.43 crores representing 79.84% of default fail under unrealisable
category. Recovery of dues has increased by 27.24% by resorting to various legal coercive
measures. In absolute terms Rs. 796.97 crores was recovered during 2000-2001 as against
Rs. 626.33 crores in 1999-2000.
It could be seen that during the years 1990-91 to 1998-99, the organisation has
collected RS.728 crores of arrears whereas during the last two financial years we have been
able to collect Rs.1423.30 crores of arrears from defaulting establishments which is a
measure of success in designing and implementation of a good monitoring system in the
matter of compliance under the Compliance 2001 programme.
There has been an increase in arrears during the year. This has been primarily due
to special efforts made by the organisation to detect default in time and trigger in recovery
action. As a result more number of 'assessments were made under Section 7A of the Act
during the year which is a legal requirement before taking recovery action. Number of
assessments has increased by 29.98% and fresh demand created during 2000-2001 is Hs.
1981.07 crores as compared to Rs. 1684.63 crores in 1999-2000.
SUBSCRIBER
SERVICE
Annual Statement of Accounts
338.17 lakh annual statement of accounts were issued to member subscribers during
2000-2001 as against 307.09 lakhs during the previous year. Pendency at the end of the
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