Section 48: Annual Report and Public Disclosure

Overview

Section 48 of the Code on Social Security, 2020, doesn’t deal with a specific social security benefit like Provident Fund or ESI directly. Instead, it establishes a framework for all social security organizations operating under the Code to be transparent and accountable. This applies to organizations administering benefits related to Provident Fund, Pension, ESI, Gratuity, Maternity Benefit, and other schemes covered by the Code. It’s a governance provision ensuring public trust in the management of social security funds.

Who is Covered?

• This section applies to every social security organisation established under the Code on Social Security, 2020. This includes bodies administering various schemes like Employees’ Provident Fund, Employees’ State Insurance, Gratuity, Maternity Benefit, and building and construction workers’ welfare funds.
• There are no direct eligibility conditions related to employees or establishments under this section. It focuses on the obligations of the organisations themselves.

Benefits and Contributions

Section 48 doesn’t directly relate to employee benefits or contribution rates. It concerns the reporting of how benefits are being administered and how contributions are being utilized by the social security organizations. The benefits and contributions related to specific schemes (like PF, ESI, etc.) are governed by other sections of the Code and related rules.

Procedure and Compliance

Here’s a breakdown of the compliance procedure under Section 48:

1. Annual Report Preparation: Each social security organisation must prepare an annual report.
2. Report Content: The report must include detailed information on:
   • Financial performance (income, expenditure, investments).
   • Implementation details of various schemes.
   • Beneficiary data (number of beneficiaries, amounts disbursed).
   • Key achievements during the year.
   • Challenges faced.
   • Policy recommendations for improvement.
3. Submission to Government: The annual report must be submitted to the appropriate government (Central or State, depending on the scheme).
4. Public Disclosure: The organisation must make the annual report publicly accessible, likely through its website or other designated channels.

Practical Examples

• Example 1: The Employees’ Provident Fund Organisation (EPFO) publishes its annual report detailing the total contributions received, the interest credited to members’ accounts, the number of claims settled, and its investment performance. This report is available on the EPFO website.
• Example 2: A State government-run building and construction workers’ welfare board fails to publish its annual report for two consecutive years. This could lead to scrutiny from the government and potential penalties for non-compliance, as it hinders public accountability.

Disclaimer

This article is for basic understanding of the Code on Social Security, 2020, and Section 48 specifically. It should not be treated as legal advice. Consult with a qualified legal professional for advice tailored to your specific situation.