The Employees’ Provident Fund Organisation (EPFO) has launched a new facility wherein employees can obtain Universal Account Number or UAN without depending on their employers. Currently, workers get their UAN through their employers. By doing this, they can avoid filing PF transfer claims on changing jobs. The UAN remains unchanged throughout the life of a worker.
Now as per the new rule, any employee can obtain UAN directly from the EPFO website which makes them eligible for PF, life insurance benefits and pension.
Apart from the above-mentioned benefit, the EPFO has also launched a facility for its over 65 lakh pensioners wherein they can download their documents related to pension like pension payment order (PPO) on Digilocker. In order to create depository of electronic PPOs which is accessible to individual pensioners, the EPFO has integrated with DigiLocker of National e-Governance Division (NeGD). This is the first step of EPFO towards paperless system.
E-inspection facility has also been launched by the retirement fund body. It is a digital interface of the EPFO with employers. Employers who are not filing ECR (Electronic Challan cum Return) can get E-inspection form in the user login. Through this form, employers can inform either closure of business or unpaid dues with a proposal for payment. According to the press release, “It will nudge employers for compliant behavior and prevent undue harassment of non-willful defaulters and eliminate inspector raj.” It may be noted that EPFO has six crore active members and 65 lakh pensioners, maintaining around 22 crore accounts of workers with a fund of approximately 13 lakh crore. Recently, the government has approved an 8.65 per cent interest rate on employees provident fund for the year 2018-19.