Easy online access to PF
Online access to the Provident Fund was made more efficient within the national labour reform system announced on Thursday, enabling employees to log in and activate their Universal Account Number (UAN). They will be able to receive SMS alerts and access updated passbooks, according to Employee Provident Fund Organization (EPFO) officials.
Employees of the board have welcomed the portability, and EPFO officials said that it has brought all the 4.16 crore PF contributors’ accounts into this system, even though users will have to log in and activate their UAN numbers.
Launched by Prime Minister Narendra Modi on Thursday, the system notes that the amount of funds lying unclaimed in PF accounts since 1952 till now is Rs. 27,000 crore. Under the system, PF beneficiaries can download UAN cards, access e-passbooks and information on contributions every month online. Due to the portability, PF contributions will be transferred immediately after users change employment.
Efforts to implement these efforts began in 2001. At first, it was called the Social Security Number (SSN). However, the required levels of digitization could not be achieved, so it was dropped. From 2009-10 onwards, the institution started digitizing the data, which enabled them to shift to UAN once in every few months this year, as this was complete in all 120 offices, said an official.
Employers have to download the lists and hand it over to employees and also give their Know Your Customer (KYC) details. Employees simply have to log in and activate UAN.
Between January and June, all members were identified, except those whom employers had certified as having left their jobs. As of now, all users are in the new system if they log in and activate it. New persons joining an organization will be added to the system, confirmed an official.
Aadhaar is part of KYC. The EPFO is discussing with UID officials about learning to shift to the same ecosystem over time, added the official.
Image by fancycrave1 from Pixabay (Free for commercial use)
You may also like
Image Reference: https://pixabay.com/photos/laptop-human-hands-keyboard-typing-820274/
Recent Posts
- House of Murah preserving petals, and preserving memoriesWhat sets House of Murah apart is its emotional value. Every item carries a memory.
- Gold FOFs: A smart move as gold prices soarGold tends to perform well during market uncertainty and inflation.
- Bhaskar: Innovation that glows beyond the gridBhaskar, a solar-powered lantern born in the heart of rural India, is one such innovation.
- House of Murah preserving petals, and preserving memories
What’s new at WeRIndia.com
News from 700+ sources
-
Pahalgam terror attack cowardly act, wont be tolerated: CM Nitish
-
Home Loan Interest Rates: Fixed vs Floating- Which Is Best For You?
-
INS Surat test-fires surface-to-air missile in Arabian Sea
-
MM Hills declared alcohol-free zone
-
Three killed in accident while avoiding hitting stray dog in Kalaburagi
-
Technical glitches in SCADA system being addressed to streamline drinking water supply
-
WeRIndia – A News Aggregator
Visit werindia.com for all types of National | Business | World | Politics | Entertainment | Health related news and much more..
Leave a Reply