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No Aadhar Card ?? No PF transactions

Written By Admin on Friday, 25 January 2013 | Friday, January 25, 2013

If you haven’t got your Aadhar card, hurry up and apply. The government has now made it mandatory to provide your Aadhar card number for PF transaction. 

Salaried employees in organised sector will have to provide their Aadhaar numbers for seeking benefits under the EPF scheme being operated by retirement fund body Employees’ Provident Fund Organisation (EPFO), reports the PTI.

The report also states that it will be mandatory for new members to submit their Aadhaar numbers as part of the KYC (Know Your Customer) verification from March 1, 2013 onward.

It has asked the field staff to ensure the collection of data (Aadhaar) in respect of member joining on or after March 1, 2013 on a monthly basis and in respect of existing members by June 30, 2013.. 

Earlier, EPFO had envisaged replacing its member’s account number with Aadhaar numbers to avoid inconvenience to those who had to apply for transfer of PF money to the new account with the new employer.

EPFO is working towards creating a central database where all members would have a unique account number and would not require to transfer PF accounts to another one in the event of changing jobs..

EPFO recently digitalised its database of regional offices and launched its e-passbook service where subscribers can access their account online. Now the body is working towards integrating this digital data base and bring them together at one place. 

In case an employee does not have the Aadhaar number, the employer can issue an Enrolment Identity card (EID) as per the guidelines of the body. This EID would be converted into Aadhaar number later on, the order said. The pensioners can submit their Aadhaar number either to their pension paying branch of the bank or to the EPFO office.

The field staff have also been asked to contact the local UIDAI authorities requesting them to set up camps for enrolment in industrial areas and other places which they find suitable for the purpose. The field officers have also been directed to coordinate with district authorities for organising such camps for Aadhaar enrolments..

Earlier, EPFO had envisaged replacing its members’ account number with Aadhaar numbers to avoid inconvenience to those who had to apply for transfer of PF money to the new account with the new employer.
 

Aadhaar enrolment is free. You can go to any authorized Aadhaar enrollment center anywhere in India with your identity and address proof. Click here for more information

Central trade unions have, however, slammed the move by the Employees Provident Fund Organisation to make Aadhaar mandatory for opening new PF accounts and continuing existing ones.

Do you agree with the government mandate? Share your views

-Yahoo Finance 

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