EPFO Mandates Firms To Provide Workers' Bank Account Numbers For Easy PF Transfer


The EPFO is in the process of making portable Universal PF Account Number (UAN) operational for its 4.17 crore contributing subscribers by October 15.

The body had started the process of seeding the 4.17 crore UANs with subscribers bank account numbers, PAN, Aadhaar and other Know-your-Customers (KYC) details to improve the delivery of its services in July this year.

As per the office order, the firms will have to furnish the information regarding the core banking account number with IFSC code of the bank branch in respect of existing members by October 15.

Besides the employers shall provide the information regarding bank account and IFSC code in respect of previous members under their employment by October 31.

The order further stated that every employer henceforth will provide the core banking account number with IFSC code of the bank branch in respect of every new member on joining the Fund.

As per the order, the subscribers of the fund who are presently not employees of any establishment, will provide their core banking account numbers with IFSC code of the bank branch, a crossed cheque folio with member's name printed thereon and their previous PF account number themselves at any Regional or Sub-Regional Office of the EPFO. These category of members shall be provided this information by November 31.

Source: PTI