Thursday, December 19, 2024
Advertisement
  1. You Are At:
  2. News
  3. Business
  4. Aadhaar now mandatory for new PF account

Aadhaar now mandatory for new PF account

New Delhi, Jan 24: 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).Over 50

PTI Published : Jan 24, 2013 16:18 IST, Updated : Jan 24, 2013 16:23 IST
aadhaar now mandatory for new pf account
aadhaar now mandatory for new pf account

New Delhi, Jan 24: 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).




Over 50 million existing EPFO subscribers would be required to furnish their Aadhaar numbers to the body by June 30 this year.

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

"It has been decided to make Aadhaar numbers mandatory for new members...joining on or after March 1, 2013. However for existing members, the seeding of Aadhaar number has to done in a time bound manner," an official order to the field staff said.

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 monthly basis and in respect of existing members by June 30, 2013.

In case an employee does not have the Aadhaar number, the employer can issue an Enrolment Id (EID) as per the guidelines of the body. This EID would be converted into Aadhaar number later on, the order said.

The body would also seek the Aadhaar numbers of its pensioners through the banks. EPFO has decided to use Aadhaar as mandatory KYC credential to improve its services.

The pensioners can submit their Aadhaar number either to their pension paying branch of the bank or to the EPFO office.

The field staff has 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 offices are also directed to coordinate with district authorities during organising of camps for Aadhaar enrolments.
Advertisement

Read all the Breaking News Live on indiatvnews.com and Get Latest English News & Updates from Business

Advertisement
Advertisement
Advertisement
Advertisement