Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Any kind of payment from the provident fund of 275,000 government employees across the country will now be made electronically. As the money goes directly to the saver’s account, the savings fund will no longer be credited to the personal account and will be lost, duplicate entries, multiple entries and multiple accounts of the same person will be solved.
The Office of the Comptroller and Auditor General and the Employees Provident Fund on Wednesday launched a system of payment through Electronic Funds Transfer (EFT) through Electronic Government Accounting System.
From this system, the loan amount of the Employees ‘Provident Fund, Retirement Fund, and Employees’ Provident Fund working in the Government of Nepal, as well as the provincial Governing bodies, will be accounted electronically in the personal account in real-time of the transaction.
According to Gyanendra Poudel, spokesperson of the Office of Auditor General, about 275,000 savers from the federal and province services, civil servants, police, and combatants will benefit from this system. Speaking on the occasion, Chairman of the Fund Ram Sharan Pudasaini said that the development of the system has added bricks to the improvement of the government accounting system. He said that the savers would get fast, efficient, and effective service as the funds would be credited to the savers’ account in real-time.
Comptroller and Auditor General Madhu Kumar Marasini said the system would go a long way in implementing the government’s digital governance. He said the development of such a system would also help in maintaining transparency.
On the occasion, Tulasi Prasad Gautam, administrator of the fund, said that the implementation of an electronic government accounting system would simplify and facilitate the collection of funds of the Employees Provident Fund.
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