EPFO: UAN to get operational in Oct

The EPFO has set a target of seeding data of 2 crore bank accounts

Hyderabad: The EPFO, which will be allotting Universal Account Numbers (UAN), has initiated the process of seeding KYC details like PAN and Aadhaar information of employees.
The EPFO has set a target of seeding data of 2 crore bank accounts by August 31. EPFO expects to make UANs operational by October 15.
The UAN will be portable throughout the career of the members and can be used anywhere in India. They will not need to apply for the transfer of PF accounts on changing jobs. The details of Aadhaar, PAN and bank account number are required, as a part of the KYC norms, because it will enable the EPFO to provide services directly to beneficiaries.
“So far, overall data seeding is more than one crore. We should have 2 crores bank account numbers by the end of this month,” said Central Provident Fund commissioner, Krishna Kumar Jalan.
He appealed to employers at a meeting to upload the details of their employees and speed up the process of issuing UAN. “Once we get the data by August 31, we will be able to provide some services,” he added.
The department will be able to transfer amounts to the employee bank accoun-ts using UAN, which will make the lives of the EPFO stakeholders easy.

( Source : dc correspondent )
Next Story