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Permanent or universal account numbers (UAN) to be allotted EPFO by Oct 15
Posted on: 21/Apr/2014 12:19:51 PM
Permanent or universal account numbers (UAN) on the pattern of core banking services to five crore active subscribers will be provided by Retirement fund body EPFO by October 15 this year.Under core banking services, a customer can avail the bank services in any of its branch through his allotted unique account number.The UAN will facilitate subscribers in avoiding filing of PF transfer claims on changing jobs.
After getting UAN, a subscriber would not be issued new PF account number on joining new firm. It is expected to provide great relief to those workers in organised sector who frequently change jobs, particularly, in construction sector.
The UAN would be one account number which would be allotted to a subscriber for various schemes run by the EPFO for his entire service period with different employers.
The EPFO has engaged C-DAC for preparing a roadmap for implementing the UAN programme for its subscribers. The Centre for Development of Advanced Computing (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.
The UAN will help reduce the workload of the EPFO to a great extent as it receives over 12 lakh claims annually for transfer of PF account on changing of jobs by its subscribers.
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