Launch of “One Employee-One EPF Account” drive

On the occasion of International Workers’ Day on 1 May 2016, the Employees’ Provident Fund Organisation (EPFO) has launched a special mission consolidation drive –“One Employee-One EPF Account” for members of Employees’ Provident Funds (EPF) Scheme, 1952.

The objective of the drive is to encourage EPF members to access enhanced IT enabled services through Universal Account Number (UAN) accounts that are linked with AADHAR identity number.

This drive will result in an EPF member having just one EPF account -the UAN that is AADHAR seeded and will consolidate member’s multiple past service accounts, across various employment during working life of the member.

Launch of drive
► To implement the “One Employee-One EPF Account” drive, a software has been launched for centralized processing that will transfer and consolidate accounts with ease.

► Features of the software are:

► A member has to provide his / her current activated UAN along with the current member ID and mobile number registered at UAN Member portal.

► On validating these credentials, EPFO will facilitate the member to register his / her as many as 10 earlier EPF accounts.

► The earlier EPF member IDs provided by the member will be forwarded to EPFO field office to which earlier member ID pertains. The information provided to field offices will also include current member ID & mobile number of the member, so that the member can be contacted and facilitated to consolidate previous EPF accounts to the current EPF account.

► Employers are also required to obtain details of UAN (if allotted) from any new employee joining the establishment. Employers are also advised to upload and then digitally authenticate the KYC information which covers AADHAR identity number, Permanent Account Number and bank account.

► Earlier on 10 February 2016, an Incentive Reward Scheme was launched for employers allowing them to claim a refund of certain percentage of administrative charges paid by them by covering a percentage of employees under the UAN scheme. The scheme is in operation for one year beginning 1 January 2016.