Sambalpur: Chairman-cum-Managing Director of Mahanadi Coalfields Limited (MCL) BN Shukla on Saturday formally inaugurated the centralized payment of Coal Mines Provident Fund and pension to the superannuated employees of the company.
The online system was inaugurated by the CMD in the presence of OP Singh, Director (Technical/Ops), KR Vasudevan, Director (Finance), Keshav Rao, Director (Personnel), and Baban Singh, Director (Technical/P&P).
“Our objective should be extensive use technology in bringing greater transparency in the business operations,” Shukla said.
He congratulated 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, 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 the Coal Mines Provident Fund and 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.