Aadhaar Link To Banks Will Ensure Single PF Accounts

Kolkata: The Employees Provident Fund Organisation (EPFO) is expecting to eliminate multiple account numbers of an individual, once the process of seeding Aadhaar is completed, an official said here on Friday.

"Aadhaar seeding and bank account linking will help do away with multiple provident fund accounts, once merger of accounts happens with the help of Aadhaar seeding," Additional Central PF Commissioner S.B. Sinha said.

He also said that bank account linking would help members in managing PF accounts and in claim settlements. Since July last year, a Universal Account Number (UAN) generation requires mandatory Aadhaar seeding, bank details and mobile number.

Sinha also said that for old account holders, seeding was being carried out. Regional PF Commissioner Navendu Rai said there were 26 lakh regular contributing members in West Bengal at present, but the number of PF accounts issued from the state was about 70 lakh.

"On an average, one person has three PF accounts (in West Bengal) due to change in employment," he said on the sidelines of a programme organised by the Indian Chamber of Commerce (ICC).

According to him, online submission of claims and settlements would also be possible in case of Aadhaar-seeded UAN holders. "An employee will not require transferring their PF account to the new employer as with Aadhaar-seeded UAN numbers, transfer will happen automatically and seamlessly without any intervention of the member," Rai added.

IANS