Home INDIA & BEYOND INDIA All EPF subscribers to have Universal Account Number (UAN) now

All EPF subscribers to have Universal Account Number (UAN) now

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Odisha Sun Times Bureau
Bhubaneswar, Jul 5:

With the introduction of Universal Account Number (UAN) for its subscribers by Employees Provident Fund Organization (EPFO), subscribers will not have problems anymore with regard to their provident fund deposits even after quitting companies or getting promoted.

EPFOn opening UAN accounts, their accounts will now receive remittances irrespective of whether they have switched companies or jobs, informed K K Jalan, Central Provident Fund Commissioner here.

However, Aadhar cards will be made mandatory for UAN accounts for greatere transparency, Jalan said addressing a press meet organized by the EPFO at the Nalco auditorium here on Saturday. Currently, 50 lakh subscribers have UAN accounts, their number will reach 3.5 crore by August 25, he added.

Companies registering 80% of their employees with EPFO by August 25 will get 10% refund on their contributions while those registering 60% of their employees will get 5% refund. Stringent punitive action will be taken against those showing no interest in registering their employees, Jalan said.

Similarly, in order to make provident fund simpler, online deposit and deposit amount transfer will be introduced very soon. This apart, ‘Nidhi aapki nikat’ a new programme will be launched. Uunder the programme, subscribers can visit the office on 10th of each month and register their complaints. Moreover, steps are being taken to make pension payments on the 1st of every month, informed Jalan.