The Employees Provident Fund Organization (EPFO) found in an audit that most of the PF accounts of the employees are inaccurately reconciled. The study shows 90% of the accounts in the north zone of the country are inaccurate. Some of the employees can bet on their accounts that they are imperfect in the areas of Noida (98.26%), Gurgaon (96.05%), Chandigarh (96%) and Bhopal (93.3%).
EPFO also points out the risk of faulty or improper payments to the claims have increased from 1995 to 2007 and is still increasing. Though the data entry system has been made computerized in the field offices, but the inaccuracy in data is attributed by the supervisory officers who do not settle the account properly. The committee has admitted the problems of improper maintenance of the account is creating troubles for the stakeholders.
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