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Friday, September 14, 2012

Govt considering unique number for all PF account holders

The Government is considering a proposal to give unique numbers to all provident fund account holders with life-time validity, a Regional PF commissioner said today. Regional PF Commissioner-I, Bangalore, Kamma Narayana said the Employees' Provident Fund Organisation headquarters has recently sought feedback on the proposal from PF commissioners in the country. 

"The proposal is under consideration," he told reporters on the sidelines of an interactive session hosted by the Bangalore Chamber of Industry and Commerce (BCIC) here.

The proposal, if implemented, would see an employee will have the same unique number despite changing jobs and having new employers. 

"All through his life, that will be the permanent account number for him," Narayana said.

Asked if he expected the proposal to be implemented from the current financial year, he said "hopefully" but added that it's only at the proposal stage now.

Source : The Financial Express, Sept 11, 2012

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