It’s mandatory for employers to get UANs e-verified
The Employees’ Provident Fund Organization (EPFO) will not allow companies from paying provident fund (PF) dues of new employees if the employers fail to obtain universal account numbers (UAN) and e-verify them in advance.
The EPFO has found that a sizeable number of EPFO subscribers are yet to be e-verified by their employers despite possessing UANs. UAN is a unique number provided to all EPFO members for use throughout their careers. A verified UAN is essential for PF number portability, pension disbursement, online PF passbook and other allied facilities that the EPFO has either launched or is planning to implement.
The step that has taken by EPFO to restrict employers from paying PF dues in case new employees have not been e-verified will force companies to complete the pending e-KYC (know your customer) verifications and activate the UAN of their employees.
This move will increase employee-EPFO interaction and limit the role of the employer once the e-verification is done.
The EPFO has received several complaints from subscribers about how they were facing difficulties in operating their PF accounts despite possessing a UAN. “The answer is UAN needs to be linked to the member account and e-KYC needs to be done by the employer through a digital signature,” said the official.
The KYC verification of some 12.56 million subscribers by their employers is still pending.