SRINAGAR: The Jammu and Kashmir Funds Organization is unable to settle the General Provident Funds and other fund related cases of employees as the National Informatics Centre (NIC) failed to update the requisite software helping to update the new interest rates.
All Jammu Kashmir Funds Employees Union, president, Qaiser Mujeeb Andrabi in a statement issued here said that the new interest rates were notified by the GoI in April this year after which state government issued a notification for modifications in the interests on the GPF subscriptions.
“However following this change, the NIC was required to modify the interest rates in the GENPROFIT System developed exclusive for Funds Department, he said.
Adding that (NIC) J&K Srinagar Unit has failed to update the new interest rates on software system provided to General Provident Fund offices that has severely affected functioning of the organization in the state.
The officials said that they are unable to settle the retirement and death cases. “Unfortunately, subscribers who are applying for withdrawal of their money leave disappointed as we cannot help secure their hard earned money,” an employee said.
Andrabi urged the state government to take up this matter with NIC authorities so that five lakh employees of the state government do not face difficulties for withdrawal of their GP Fund Advance.