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Aadhaar linking to eliminate multiple PF accounts
Aadhaar seeding and bank account linking will help do away with multiple provident fund accounts, once merger of accounts happens with the help of Aadhaar seeding
The Employees Provident Fund Organisation (EPFO) on Friday said it will be able to eliminate multiple account numbers of an individual once the process of linking Aadhaar is complete.
"Aadhaar seeding and bank account linking will help do away with multiple provident fund accounts, once merger of accounts happens with the help of Aadhaar seeding," Additional Central PF Commissioner S B Sinha told PTI.
He said bank account linking will help members to remotely manage accounts and for claim settlements.
Speaking on the sidelines of a seminar on provident fund organised by ICC, Regional PF Commissioner Navendu Rai said there were 26 lakh regular contributing members in West Bengal at present, but the number of PF accounts issued from the state was about 70 lakhs.
"On an average, one person has three PF accounts (in West Bengal) due to change in employment," he said.
Since, July 1, 2017, Universal Account No (UAN) generation requires mandatory Aadhaar linking, bank details and mobile number. Sinha said for old account holders, linking is being carried out.
He said online submission of claims and settlements was possible in case of Aadhaar-seeded UAN holders.
"Employees will not require transferring their PF account to the new employer as with Aadhaar-seeded UAN numbers, transfer will happen automatically and seamlessly without any intervention of the member," Rai said.
The Employees Provident Fund Organisation will send its officers to residences of pensioners for life certificates in case they need this service, and was procuring gadgets and tools for it.
"EPFO has also commenced self-certification for pre-mature withdrawal and pensioners' portal for disbursal details," Sinha added.
