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COPA calls for digital system to manage Employees’ Provident Fund payment data

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The Parliamentary Committee on Public Accounts (COPA) has recommended that the Labour Ministry in collaboration with the Central Bank, immediately establish a digital data system to manage data related to Employees’ Provident Fund (EPF) payments. This recommendation was directed to the Labour Ministry Secretary.

The committee highlighted the necessity for the Labour Department to have a continuously updated data system, emphasising its importance for the safety and security of the public.

This recommendation came during a meeting chaired by State Minister Lasantha Alagiyawanna, focusing on the Auditor General’s reports for 2021 and 2022 and the current performance of the Labour Department.

Officials stated that after employers register with the Labour Department, the relevant EPF payments are made to the Central Bank, which then provides payment data to the Labour Department every six months.

The committee, however, pointed out the need for a system that allows for continuous updates rather than biannual data collection. The continuous update system is considered crucial for ensuring public safety.The committee also recommended that the Central Bank and the Labor Department hold a joint meeting promptly to discuss and implement this digital data system. Attention was also drawn to the under utilisation of financial resources allocated by the government for improving the digital data system. It was revealed that 84% of the funds allocated for 2021, 53% for 2022, and 91% for 2023 remained unused.

Officials explained that although the Labor Department initially focused on digitalisation, the proposal for establishing a National Labour Market Information System caused delays. The committee expressed regret over the continuous postponement of digitalisation due to various reasons and suggested that there might be intentional delays by certain parties.

In summary, the committee underscored the urgent need for a digital data system for EPF payments to ensure timely updates and public safety, urging immediate action from the relevant authorities.

The committee also recommended that the Central Bank and the Labor Department hold a joint meeting promptly to discuss and implement this digital data system. Attention was also drawn to the under utilisation of financial resources allocated by the government for improving the digital data system. It was revealed that 84% of the funds allocated for 2021, 53% for 2022, and 91% for 2023 remained unused.

Officials explained that although the Labor Department initially focused on digitalisation, the proposal for establishing a National Labour Market Information System caused delays. The committee expressed regret over the continuous postponement of digitalisation due to various reasons and suggested that there might be intentional delays by certain parties.

In summary, the committee underscored the urgent need for a digital data system for EPF payments to ensure timely updates and public safety, urging immediate action from the relevant authorities.

The post COPA calls for digital system to manage Employees’ Provident Fund payment data appeared first on DailyNews.

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