No Provident Fund without Aadhaar Number

Those who have not got their Aadhaar number should hurry up to get one for them especially those who are either employee of a big company or a government department because Aadhar Card is not only for those who gets benefits from the government services but also for those middle class people who takes a handy sum as their salary and those pensioners who will not be able to get retirement savings without their Aadhaar number in 2013.

The government directed the Employee’s Provident Fund Organisation (EPFO) to use the Aadhaar based platform for its three services viz. Provident Fund, monthly pension and life insurance from the next month. Labour ministry last week informed the PF office that the employees using Aadhaar based EPFO scheme are needed to immediately link their Aadhaar numbers with their bank account. This communication says that the ministry took the decision to link the Aadhaar numbers of all the beneficiaries with their bank account. This decision has caused a sense of worry among the EPFO officials. EPFO has been directly providing benefits into the bank account of the beneficiary. This organization provides 85% of the payment through the National Electronic Funds Transfer (NEFT) program.

The PF office has kept the job of linking the Aadhaar number with the bank account as first priority of every employee in the 43 districts. This includes some regions from Mumbai, Hyderabad, Pune, Mysore and Delhi. This work has to be completed by the end of December 2012. The government has asked the officials to link the Aadhaar numbers of its 8.15 crore members with their bank accounts. However, only 23 crore people of the country have been issued Aadhaar numbers.

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