 "PF portabilty soon: EPFO to provide Universal Account Numbers by 15 Oct")
New Delhi: Retirement fund body EPFO hasdecided to work in mission mode to provide portable UniversalAccount Number to contributing members initially and seed itwith KYCs like Aadhaar and PAN to make it more secure.
“The Employees’ Provident Fund Organization (EPFO) hasdecided to allot a UAN to all members of the fund. To startwith, UAN will be provided to the members who are presentlycontributing to the fund,” said an office order.
According to available information, 3.1 crore memberscontributed towards social security schemes run by EPFO inJune this year. However, total members of EPFO were 11.78 croreas on 31 March, 2014.
The EPFO has planned to provide UAN to its subscribers by 15October this year. The allotment of UAN would link allemployments of the EPF members thus facilitating portability.
“…field offices have very less time to get the workcompleted…It is, therefore, necessary for you to work in a
mission mode. A lot of passion is required at your end toaccomplish this task,” it added.
The UAN will be portable throughout the working career ofmembers and can be used anywhere in India. Thus, the workersin organised sector would not need to apply for transfer of PFaccount claim on changing jobs.
Finance Minister Arun Jaitley in his budget speech hadannounced about allotting UAN to EPFO subscribers.
According to the office order, the Labour Ministry hascommitted that the seeding of KYCs to the UAN number would becompleted by 15 October, 2014.EPFO has constituted a special team to oversee theprogress of UAN project. The team will also visit regionaloffices to deal with problems faced by field staff inimplementation of the UAN programme.
EPFO field offices are also asked to apprise employersabout the their role in the entire project.
The head office told field staff to impress upon theemployers that Aadhaar/NPR must be seeded wherever availableas it would be useful.
In places where Aadhaar/NPR is not available, the localUIDAI office should be contacted so that it can send a teamfor registration of the employees for Aadhaar, it said.
As per the order, KYC (know-your-customer) selected forthe purpose are Aadhaar/NPR, PAN and bank account number.Though, the portal provides for seeding of other KYCs suchas election card, ration card, passport, driving license etc,which are not mandatory in a way but seeding of the same woulddefinitely give more security to the UAN of a particularmember, it added.
PTI
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