EPFO Permanent Account Numbers by October - The New Indian Express

EPFO Permanent Account Numbers by October

Published: 25th March 2014 06:00 AM

Last Updated: 25th March 2014 02:01 AM

On lines of core banking services, retirement fund body Employees Provident Fund  Organisation (EPFO) will start providing permanent or universal account numbers (UAN) by October this year to its over five crore members spread across the country.

EPFO has engaged Centre for Development of Advanced Computing (C-DAC) to prepare a roadmap for implementing the mammoth exercise and the new numbers are likely to be allocated to subscribers by October. The new numbers will save EPFO members the trouble of filing provident fund account transfer claims on changing jobs.

The C-DAC is the premier research and development organisation under the Ministry of Communications & Information Technology for carrying out R&D in IT, electronics and associated areas.

After the UAN is allocated, a subscriber would not be issued new PF account number on joining new employer. It is expected to provide great relief to those workers in organised sector who frequently change jobs, particularly, in the construction sector.

The UAN would be one account number which would be allotted to a subscriber for various schemes run by the Employees’ Provident Fund Organisation (EPFO) for his or her entire service period with different employers.

“We have engaged C-DAC for preparing a roadmap for implementing the UAN programme for our subscribers. We will launch it on October 1 this year,” EPFO’s Central Provident Fund Commissioner K K Jalan told a news agency.

According to a senior EPFO official, the UAN will help reduce the workload of the EPFO to a great extent as it receives over 12 lakh claims for transfer of PF account on changing of jobs by its subscribers.

EPFO has settled over 1.1 crore PF claims including PF withdrawal and transfer till February end of this fiscal. It expects 1.2 crore such claims in 2013-14, including around 13 lakh PF transfer claims.

During 2012-13, the EPFO had settled 1.08 crore claims, 88 per cent of which were processed within 30 days, as prescribed by the body’s citizen charter.

(With agency inputs)

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