Portable Provident Fund account number in September

New Delhi: Retirement fund manager EPFO’s ambitious project to provide portable universal PF account numbers (UAN) to its subscribers is likely to be launched this month. 

The UAN project is likely to be launched by PM Narendra Modi. However, no date for the formal launch has been fixed as yet. The Employees’ Provident Fund Organisation (EPFO) and the labour ministry are in touch with the Prime Minister’s Office for the purpose, a senior official said. 

 

EPFO completed seeding of 2.5 crore portable PF accounts with KYC details by August end, the official said , adding that the PF body is aiming to seed 1 crore UANs till September 15.UAN will give the facility of collation of acco-unts, viewing of updated accounts as well as downloading the same and collation of pensionable service. The universal number will be portable throughout the working career of members and can be used anywhere in India.

 

Thus, workers in orga-nised sector would not need to apply for transfer of PF account claim on changing jobs.The body had issued 4.17 crore UANs in last week of July and had asked its field staff to complete the seeding of portable PF account number with KYCs like Aadhaar, bank account and PAN by September 15. Finance Minister Arun Jaitley in his budget speech had said that UAN would be allotted to EPFO subscribers.