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Thursday, December 27, 2012

Aadhar card will require for EPFO transfer

People thinks that Aadhar card or UID(Unique identification document) number is for poor people with which one can get goods on less price from government shops. But this is not true. Aadhar card is must to have for the middle class as well as higher class people too. The reason is that the middle class as well as high class salaried person and pensioners need to have UID number for getting the retirement benefits from 2013.


Labour ministry has issued a directive on 20 December to EPFO (Employees Provident Fund Organization) to "embed" the Aadhaar number in bank accounts of beneficiaries in 43 districts by December 31.
"There is an urgent need to seed (or embed) Aadhaar numbers in the (bank) accounts of beneficiaries who receive benefits under the various schemes of EPFO," says the communication from the union Labour ministry.


"The ministry has decided that seeding of Aadhaar numbers of beneficiaries be completed by December 31, 2012, for 43 districts, and for beneficiaries in other districts as early as possible," it added. The schemes administered by EPFO include provident fund and pension.


EPFO department already pays the benefit directly to employee’s bank account using NEFT (National Electronic Fund transfer). Labour Ministry asks the EPFO department that these bank accounts must be Aadhar card enabled as soon as possible.

But the problem is that in this circular that what in the case when the employees have not Aadhar card till now. There are only 22 crores Aadhar card issued by the government to the people.

Government wants to transfer the subsidy amount direct to bank account and with this belief, government wants to have Aadhar card enabled saving account of the employees for transfer the EPFO benefits. But the employees are not informed either by the government or by the EPFO department about this new rule. 
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