India / News
PF linked to Adhar
01:05 PM on 24th January, 2013
The government linked the Employees Provident Fund to ‘Adhar’. EPFO was made applicable to everyone joining jobs from March 1. The new rule was set in view of the cash transfer scheme to be implemented in future.
Like banks, stock markets and oil companies Adhar details are being collected on the Know Your Customer (KYC) basis. It may be recalled that all the EPF members were instructed to provide their 'Adhar' details. The government also issued orders for onlie registration of the details of employees.
Schemes including pension payments, PF withdrawal and prepayment of pension are being brought under the cash transfer scheme and linked to 'Adhar'. Employees of private companies having EPF accounts also would have to provide their companies with their 'Adhar' particulars.
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