Friday, September 30News That Matters
Shadow

Tag: seeded

KYCs of over 50% EPF subscribers not seeded with UAN

KYCs of over 50% EPF subscribers not seeded with UAN

Finance
New Delhi: Even after four years, KYCs of more than 50% of the members have not been seeded with their Universal Account Numbers (UANs) and they are not able to avail the online services of the Employees Provident Fund Organisation (EPFO). The government has directed all establishments covered under EPFO to get 100% KYC seeded with UANs of the PF Members. Seeding of these KYC details with UAN is mandatory and failure in doing so is a punishable offence. In order to provide speedy, convenient and dependable services, EPFO had started allotting a 12 digit Universal Account Number (UAN) since 2014 to all the provident fund members. The UAN is important for all PF related services. The actual utility of UAN lies in seeding of KYCs such as AADHAR, bank account numbers, PAN & mobile numbers ...