EPFO “Nidhi Aapke Nikat” – Does it work beyond Grievance Redressal?
Today, Employee Provident Fund Office (EPFO) indicated that its current wing, Bhavishya Nidhi Adalat would be renamed to “Nidhi Aapke Nikat” and would expand its scope of just grievance Redressal to beyond its current scope. There has been several issues and suggestions indicated by EPF subscribers and Employers to EPFO about the improvements to be made. Considering this, EFPO has come up with this new approach. What is this EFPO “Nidhi Aapke Nikat” grievance Redressal wing all about? Does this “Nidhi Aapke Nikat” cell of EPFO bring cheers to EFP subscribers, employees and employers?
Also Read: How to check EPF balance online through mobile?
What is this “Nidhi Aapke Nikat” approach of EPFO?
Earlier, EFPO has a grievance Redressal wing named Bhavishya Nidhi Adalat. However EFPO believes that its subscribers view this name more from court atmosphere. Bhavishya Nidhi Adalat is subscribers grievance Redressal which resolves subscriber's queries / PF settlements. However, this wing is yet to improve in understanding EPF subscriber's requirements. EPFO has renamed Bhavishya Nidhi Adalat to “Nidhi Aapke Nikat” now and restructured this wing to reflect to dynamic realities regarding service delivery standards.
EFPO said, the new name depicts its commitment to deliver best of service to all relevant stakeholders. After several discussions within EFPO, it has decided to rename existing wing to “Nidhi Aapke Nikat” by adding additional activities which they would be performing.
What is new in a “Nidhi Aapke Nikat” wing of EFPO?
- EFPO clarified that this is not just a name change, but more accessible to different stakeholders like employees, employers, subscribers etc.,
- This would be common platform to facilitate, exchange of ideas and disseminate information.
- Currently it is simple grievance Redressal. Going forward, it expected to have a faster resolution from its grievance Redressal with some improvements made.
- EFPO expects to move to wider scope of accepting ideas for improvements. Suggestions would be invited from various stakeholders on how to improve and provide quick delivery of service.
- Hold public meeting by the 10th of every month starting from July, 2015. In case 10th is a public holiday, conduct meeting on the next working day.
Also Read: Among EPF Vs VPF Vs PPF – Which is best retirement option?
There are only a few changes happened in the last couple of years like the introduction of a Universal PF number (UAN) as a major one. However, there is several things to improve for subscribers PF withdrawls, transfers, etc., I hope this change would bring some improvement in EPF.
It is still not clear from EPFO office on how exactly they would run “Nidhi Aapke Nikat” wing to improve their operations and satisfy EPF subscribers from its current style of working.
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EPFO “Nidhi Aapke Nikat” – Does it work beyond Grievance Redressal
Hello Suresh ,
Would it be good option to go with fundsindia to manage my Mutual Fund which i am planning to invest over long term ( 15 years)
Some of the things I have read states Direct Investment generates larger corpus instead of going through Distributor like funds india who dont have Direct Scheme but Regular options.
Can you please suggest what would be your advise on this ?
Hi Austin, Direct plans are where scheme is same, but trial fees is not paid to MF distributors. In this case, it is fundsindia. Hence returns from direct plans would be always higher. If you can do KYC on your own and can track your funds with various MF houses, direct plans are best.
Thank You Suresh