MCL introduces online system of centralised PF, pension payments

Sambalpur: Chairman-cum-Managing Director Mahanadi Coalfields Limited (MCL) Mr BN Shukla today formally inaugurated the centralized payment of Coal Mines Provident Fund and pension to the superannuated employees of the company, adding a new feather in the cap of Coal India’s youngest subsidiary.

The system, was inaugurated by the CMD in the presence to Mr OP Singh, Director (Technical/Ops), Mr KR Vasudevan, Director (Finance), Mr Keshav Rao, Director (Personnel) and Mr Baban Singh, Director (Technical/P&P).

“Our objective should be extensive use technology in bringing greater transparency in the business operations,” Mr Shukla said congratulating the team of officers from Departments of Pension & PF, Finance and Systems and Personnel and Finance teams at all the Areas of the company, who have worked on the project under the guidance of the Director (Finance) and Director (Personnel).

Earlier, Mr Vasudevan, informed about the operational benefit of the system, which will have zero-human interference and enables the company in making centralized payments of CMPF and pension with administrative charges to the CMPF Office.

Centralized processing of payment towards CMPF & Pension contribution and Administrative Charges will ensure better monitoring of processing of payment for the Company as a whole and timely payment. Centralized payment will also ensure proper utilization of fund at HQs. The whole process flow is automated to render it fast, transparent and error free with minimum human intervention.