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Employees to get incentive for 1 year from EPFO

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The Employee Provident Fund Organisation as a part of seeding the UAN number with KYC has announced an incentive for the employees who register between January and December 2016.

Employees to get incentive for 1 year from EPFO

Flash points

Incentive: Employees can claim 5 to 10% of administrative charges for 1 year

Duration: From January to December 2016

What for? To encourage the employees to seed the UAN with KYC details

Details included in KYC: Permanent Account Number, Aadhar Card, Bank  account details

Allotted UAN numbers: 6.38 crores

Services under KYC: Downloadable dynamic UAN card, updated details of PF accounts, auto trigger of transfer request while changing employment and others

Points to note

  • UAN- Universal Account Number
  • EPFO started in 1952
  • EPFO is under Union Ministry of Labours and Employment
  • EPFO headquarters-New Delhi
  • Central Provident Fund Commissioner- V.P.Joy