Reply To:
Name - Reply Comment
EPF set to upgrade management system following Cabinet nod
The Employees Provident Fund (EPF), the country’s largest pension fund, will soon see an enhancement in its operations with efforts underway to select an integrator to implement a new system.
The new system, which will streamline the handling of vast user data and transactions, has been part of a project launched in 2021 under the Financial Sector Modernisation Project funded by the World Bank Group. Price Waterhouse Coopers Private Limited (India) was consulted for the planning and specification development for the new system. The fund, which currently oversees 21.5 million member accounts and 77,000 active employers remitting contributions, had an asset base of Rs. 4.2 trillion as of October 2024. With assets growing at an annual rate of over 9 percent in recent years, there was an increasing need for a more efficient and scalable information technology system, the Department of Government Information System said.
Comments - 2
Recommended
You May Also Like
Trending
