EPFO to issue universal account number soon

Written by Press Trust of India | New Delhi | Updated: Feb 27 2014, 10:39am hrs
Retirement fund body EPFO has asked its field staff to clean up records as it plans to issue universal (permanent) account numbers soon to its over 5 crore subscribers.

The account number will help those workers in organised sector workers who frequently change jobs, particularly in the construction sector. It will help them to avoid filing claims for transfer of PF accounts on change of job.

EPFO is going to soon roll out universal account numbers for its members, state the minutes of the recent meeting of high ups of the the Employees' Provident Fund Organisation chaired by its Central Provident Commissioner K K Jalan.

The number will help reduce the workload of the EPFO to a great extent. Every year, EPFO receives over 12 lakh claims for transfer of provident fund account on changing jobs by its subscribers. A subscriber with permanent account number, would not be issued new PF account number on joining new employer.