Universal Account Number Current Affairs - 2020
Employees’ Provident Fund Organization (EPFO), the retirement fund body has launched a facility for formal sector workers to themselves obtain the Universal Provident Fund Account Number on-line. Now the workers in formal sector can themselves generate Universal Account Number from the EPFO’s portal directly. Till now the workers used to apply through their employers to get Universal Account Number.
The EPFO has developed an internet-based system for workers to get registered on its digital platform. The system was launched by Union Labour Minister Santosh Gangwar during the EPFO’s 67th Foundation Day celebrations in New Delhi.
A system DigiLocker was also launched for over 65 lakh EPFO pensioners through which they can download their pension-related documents including the Pension Payment Order.
Tags: DigiLocker • Employee Provident Fund • Employees' Provident Fund Organization • EPFO • Universal Account Number
The Employees Provident Fund Organisation (EPFO) launched new online facility for its members to easily link their 12-digit unique Aadhaar number with their Universal Account Number (UAN). Its objective is to ensure better and speedy EPFO services. The new initiative will facilitate EPFO members to link their respective UAN and other relevant details with Aadhaar online. The facility has been made available at EPFO’s official website
Universal Account Number (UAN)
It is one account number allotted to a subscriber for various schemes run by EPFO for his or her entire service period with different employers. It facilitates workers in organized sector to transfer their provident fund deposits while switching jobs anywhere in India easily.
Under it active employees in organized sector are provided with universal number which can be linked to various provident fund account numbers provided to them after switching jobs by different organisations. Thus, a single account number can be used throughout workers’ employments with various organisations.
The roadmap for implementing the UAN programme has been prepared by Centre for Development of Advanced Computing (C-DAC). UAN aims to reduce the workload of the EPFO to a great extent as it receives over 12 lakh claims for transfer of PF account on changing of jobs by its subscribers.