Unique PF number now a reality

An employer would allot the number to its employees, who would in turn provide their KYC (know-your-customer) details to the former. The KYC details of employees would then be made available to the EPFO.

     Print Edition: September 2014
Unique PF Number Now a Reality

The unique provident fund number is now a reality. The Employee Provident Fund Organisation (EPFO) has allotted unique numbers to 41.7 million contributing members. The unique number is being allotted to members through 430,000 establishments.

An employer would allot the number to its employees, who would in turn provide their KYC (know-your-customer) details to the former. The KYC details of employees would then be made available to the EPFO.

EPFO has specified (one of the) seven documents which can be used for fulfiling KYC norms. These include Aadhar card, Personal Account Number (PAN), bank account, ration card, voter ID card, passport and driving licence. So far the EPFO has received 12 million KYC details.

Earlier, the employer would send internal (KYC) details-employee's name, father/husband's name, date of birth and date of joining-to the EPFO. However, since the unique ID would be a portable number, which can be used even if a member joins a new establishment, external KYC details are being sought by the provident fund office.

The unique ID would be a 12-digit number, which would remain the same irrespective of the establishment the employee is working for.

 

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