21 Sep, 2014 05:25 PM

Universal PF account number likely to be launched on Oct 16

An ambitious project by the Employees Provident Fund Organisation (EPFO) to provide portable universal PF account numbers (UAN) to its subscribers is likely to be launched on October 16.

Besides, the government will launch unified web portal LIN (labour identification number) for simplifying business regulations and bringing in transparency and accountability in labour inspections by various agencies and bodies under the administrative control of the Labour Ministry.

Prime Minister Narendra Modi is likely to launch both LIN web portal and UAN on October 16 as per the Plan chalked out by the Labour Ministry.

"Labour Secretary had called a meeting for the launch of UAN and LIN yesterday. The ministry has planned to launch both LIN portal and UAN on October 16," a senior official said.

According to him, the Prime Minister will be invited to launch the LIN portal and UAN in the presence of Labour Minister Narendra Singh Tomar and other top brass of the Labour Ministry.

UAN will give the facility of collation of accounts, viewing of updated accounts as well as downloading the same and collation of pensionable service. It will be portable throughout the working career of members and can be used anywhere in India.

Thus, workers in the organised sector would not need to apply for transfer of PF account claim on changing jobs.

At present, the retirement fund body has already captured bank account details in respect of 1.80 crore employees, PAN details in respect of 86.9 lakh employees and Aadhar number in respect of 28.2 lakh employees.

It is in the process of making UAN operational for its 4.17 crore contributing subscribers by October 15.

EPFO had started the process of seeding the 4.17 crore UANs with subscribers bank account numbers, PAN, Aadhaar and other know-your-customer (KYC) details to improve the delivery of its services in July this year.