The Central Bank of Sri Lanka recently signed an agreement with DFCC Bank to facilitate EPF payments online through DFCC’s iConnect Payments and Cash Management Portal.
DFCC iConnect delivers cost savings, optimises working capital and enables real-time viewing of liquidity, giving iConnect customers unimaginable flexibility in their financing needs. DFCC iConnect’s EPF System is an independent system and simple to use, a spokesman for the bank said.
All that a DFCC iConnect customer needs to do is to login to DFCC iConnect and upload a file with the EPF details, which gets validated instantly with the EPF Department. On successful validation, the customer’s account with DFCC Bank will be debited and funds will be sent to EPF Department account.
Since the EPF module is one of many convenient features that DFCC iConnect offers, Corporate Customers need to obtain DFCC iConnect to use this service of making their EPF payments online.
Other benefits to the customer include automated straight-through process of uploading EPF Payment details of employees and making the payment to the EPF Department directly through the online platform.
DFCC iConnect’s EPF Module has many advantages, such as increase in recognition in the market to be one of the few banks to provide a fully automated online platform enabling Corporate Customers to make EPF Payments to the EPF Department directly.DFCC iConnect also includes a fully-integrated Financial Supply Chain Management (FSCM) System, Virtual Accounts (VA) and a state-of-the-art mobile application with biometric (Fingerprint recognition) capabilities for payment authorisation.