EPFO unveils incentive scheme to bolster UAN seeding

The Employee Provident Fund Organisation on Friday unveiled an 'Incentive Refund Scheme' aimed at bolstering the seeding of the Universal Account Number (UAN) with Know Your Customer (KYC) details to provide enhanced services.

"Seeding of UAN with KYC details including Aadhar, bank details is a priority area for EPFO. This is being carried out in full swing. More than 2.44 crore members have activated their UAN and are able to access enhanced services," said a statement by the labour and employment ministry, under which the EPFO operates.

Stretching from January 1 to December 31, 2016, the scheme will enable employers to claim 10 percent refund of administrative charges for fulfilling the required criteria relating to UAN in respect of its contributing members.

KYC details include the permanent account number (PAN), bank account details, Aadhar and others.

According to EPO, already 6.38 crore UAN numbers have been allotted by EPFO and the enhanced services bring benefits like downloadable dynamic UAN card, updated details of PF accounts, auto trigger of transfer request while changing employment and others.

Currently, employers can directly submit UAN based claims to Provident Fund offices without employers' attestation, the statement added.