Aadhaar must for PF account from March 2013

by Paul Joseph on January 26, 2013 · 0 comments

Emplyoees in the formal sector workforce from March 2013 unwards will have to get a Unique ID number before they can enroll with the Employees’ Provident Fund. It will be used  to issue individual account numbers to its members, independent of employers. “The Aadhaar platform can be leveraged to improve the services of EPFO by using it as a KYC (Know Your Customer) credentials for EPF members. It has been decided to make the Aadhaar numbers mandatory for new members,” the EPFO said in a missive to all field offices. For the existing 8.15 crore members, EPFO plans to link Aadhaar numbers with PF accounts by June 30. “Contractual employment and frequent migration of employees has meant multiple provident fund accounts for most members. Of the nearly 1 crore claims received annually, about 90 lakh pertain to transfer or settlement of accounts,” the EPFO says. “Most of our work is focussed on tracking individual account members or transfer of accounts,” said an official, adding that switching to Aadhaar would allow it to focus on other areas of service delivery. EPFO has directed its field offices to contact local UIDAI authorities to set up enrolment camps in industrial areas. Employers must collect Aadhaar details of new employees and send them to the EPFO.” The order was signed by Central Provident Fund Commissioner Anil Swarup.   Source – PTI ©2009 Copyright by Invest In India

[via Invest In India]

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