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The retirement fund manager employees provident fund organization would soon replace provident fund account number with unique identification number for better management efficiency.This move will allow the organization, to transfer of a subscribers fund in case of a job change and allow them to track their account on line.
Given the lack of digitization at EPFO offices,it takes several month for a subscriber to get his provident fund money transfer from his old employer to the new.This force a large number of subscribers to withdraw the entire money in their account and go for a frees account with the new employer.
The ongoing digitization project and the replacement of PF account number with UID would speed up the inter-organization transfer of PF money and could stop the subscriber from seeking a pre mature withdrawal.
We are in the process of digitizing and inter connecting all our offices. We are planning to use unique Identification number as the subscribers account number after that,--said Lab-our secretary,Mr.P.C.Chaturvedi.According to him process could be completed by march-2012.EPFO plans to digitalis e the entire data in its regional and sub-offices by march this year,in-the first phase.All offices will be inter connected.
sources-PTI.
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