This Labour Ministry has asked EPFO to provide permanent PF account numbers to it is 5 crore members inside a time-bound manner in order that they don't need for you to transfer provident fund accounts after modifying jobs.
According for you to sources, the direction with this regard was fond of the Employees' Provident Account Organisation (EPFO) simply by Labour Secretary Gauri Kumar with the February 5 meeting with the Central Board connected with Trustees (CBT), the apex decision making body with the organisation.
"Kumar asked EPFO's Core Provident Fund Commissioner Ok K Jalan for you to apprise the aboard in its next meeting regarding the progress over the project in order to provide a timeline for completing the task, " the supply further said.
The subsequent meeting, however, hasn't been scheduled so much.
The permanent PF account number would also help provide interpersonal security benefits for you to workers in industries like construction where by they change contractors and place of work frequently.
According for the 'Action Plan' handed over by the Time Ministry, the EPFO has to do place a process for unique employee number which may eventually make it is facilities on thee traces of core checking service.
An official associated with the project said it's not at all difficult to produce this facility with 2014-15 as virtually all 123 field offices with the EPFO are digitised and will be connected to some central server.
To deliver permanent PF account numbers to customers, EPFO will have to set up a central server which may be connected to any or all of its 123 area offices.
At present, the EPFO subscribers need to apply for shift of PF balances on changing work opportunities. They are provided a fresh PF account number whenever they change work opportunities.
The EPFO in October not too long ago started the center of online shift of PF account on changing work opportunities.
The facility connected with online transfer connected with PF accounts has reduced the project load of the EPFO substantially seeing that over 13 lakh software are filed intended for such claims annually.
The EPFO needs 1. 2 crore promises in 2013-14, which include around 13 lakh PF shift claims. During 2012-13, that settled 107. 62 lakh claims. Eighty eight per cent of these were processed within thirty days, as prescribed through the body's citizen rental.