Key Activities of SPFO

The Seamen's Provident Fund Organisation (SPFO) performs the following core functions to ensure the welfare of seafarers:

1. Provident Fund Management

• Administering provident fund contributions made by seafarers and employers.
• Investment of funds to ensure sustainable growth and availability when required.
• Ensuring timely credit of contributions and interest accruals.

2. Processing Claims

• Handling and processing claims related to retirement, death, and other benefits.
• Verifying eligibility, calculating benefits, and disbursing funds to seafarers or their beneficiaries.
• Managing withdrawals for housing, education, medical emergencies, and unemployment support.

3. Maintaining Records

• Keeping detailed digital records of contributions, withdrawals, and interest accruals.
• Ensuring secure and transparent financial transactions for each seafarer’s account.
• Providing regular statements and account status updates to members.

4. Providing Benefits

• Disbursing retirement benefits, death benefits, and financial assistance to seafarers and their nominees.
• Offering partial withdrawal facilities for specific needs like housing, marriage, and medical expenses.
• Supporting seafarers in financial planning and fund utilization.

5. Welfare Programs

• Implementing special welfare schemes for seafarers and their families.
• Supporting education, health, and general well-being initiatives for maritime workers.
• Partnering with relevant stakeholders to improve the quality of life for retired and active seafarers.

6. Compliance and Regulation

• Ensuring compliance with the Seamen's Provident Fund Act, 1966, and other relevant maritime welfare laws.
• Updating policies and procedures in line with government directives and industry requirements.
• Enforcing employer contributions to safeguard seafarers’ financial interests.

7. Communication and Support

• Offering guidance and assistance to seafarers and their families regarding their provident fund accounts.
• Providing support for claims, withdrawals, and grievances through online and offline channels.
• Conducting awareness programs to educate seafarers about fund benefits and financial security.

8. Audits and Inspections

• Conducting regular audits and inspections to ensure the integrity and proper functioning of the provident fund system.
• Collaborating with regulatory bodies and auditors to maintain transparency and compliance.
• Ensuring fair and efficient fund management through periodic assessments.

Membership & Contributions

Eligibility

• All seafarers employed in the Indian merchant navy automatically become members.
• Membership continues until final withdrawal of accumulated contributions.

Contribution Rates:

• Initially 6% of wages (1964), later increased to 12% (1997).
• Employers match employee contributions.

Application & Claim Process

Seafarers can claim their provident fund through:

• Online Portal SPFO Website
• Offline Submission: Visit the Seamen's Provident Fund Office, Mumbai.
• Required Documents:

• Provident Fund Claim Form
• Seafarer's ID / Continuous Discharge Certificate (CDC)
• Bank Details for direct transfer
• Nomination details (for death claims)

Contact Information

• Office : Krupanidhi Building, 3rd Floor, 9, Walchand Hirachand Marg, Ballard Estate, Mumbai – 400001
• Helpline : 022-22616925
• Email : spfo-commr@spfo.gov.in
• Website : spfo.gov.in
• Office Timings :
  • 10:30 AM – 12:30 PM
  • 2:30 PM – 5:00 PM

Conclusion

The Seamen’s Provident Fund Organisation (SPFO) plays a vital role in ensuring the financial security of Indian seafarers. Through efficient fund management, timely claims processing, and welfare programs, SPFO safeguards the economic well-being of seafarers and their families. By maintaining compliance, transparency, and regulatory oversight, the organisation continues to support the growth and welfare of India's maritime workforce.