EPFO Incentive Scheme - UAN with 100% Seeded KYC

EPFO Incentive Scheme - UAN with 100% Seeded KYC 

Click Here to Get Copy of Notification

EPFO launches an Incentive Scheme for employers to encourage partnership in allotment of Universal Account Number (UAN) to their employees.

Employers can get refund upto 10% of administrative charges payable to EPFO under a new incentive scheme.

EPFO, Head Office, New Delhi: In order to boost the process of seeding the Universal Account Number (UAN) with KYC (e.g PAN, bank account details, Aadhar) that enables enhanced services from EPFO, an “Incentive Refund Scheme” has been launched.

The Scheme shall be in operation for one year beginning 1st January 2016 to 31st December, 2016.

The employers can now claim upto 10% refund of administrative charges on fulfilling certain criteria relating to UAN in respect of its contributing members. The refund as per the scheme comes in two categories:-

Ø   Incentive Refund Scheme A

Claim 10% refund of administrative charges by:-

(i) Providing member’s details as required under Form No. 11 (New) (80% or above)

(ii) Seeding of all the three i.e AADHAR (atleast 80% of (i) above, bank account (100% of (i) above) and PAN (wherever applicable).

(iii) UAN activation (100% of (i) above)

Ø   Incentive Refund Scheme B

Claim 5% refund of administrative charges by:-

(a) Providing member’s details as required under Form No. 11 (New) (60% or above).

(b) Seeding of all the three i.e AADHAR (70% of (a) above, bank account (80% of (a) above) and PAN (wherever applicable).

(c) UAN activation (60% of (a) above).

Only such establishments that have in each month of the quarter achieved the criteria for qualification can avail the incentive of 5% or 10% by way of refund at the end of every quarter starting from quarter ending March, 2016.

Already 6.38 crore UAN numbers have been allotted by EPFO. Seeding of UAN with KYC details including Aadhar, bank details is a priority area for EPFO. This is being carried out in full swing. More than 2.44 crore members have activated their Universal Account Number and are able to access enhanced services like downloadable dynamic UAN card, updated details of PF accounts, auto trigger of transfer request while changing employment etc. The incentive scheme aims to improve service delivery to those who need the most. It is now possible for employers to submit UAN based claims directly to PF offices, without attestation of the employers.

EPF Withdrawal become very easy for employees - “No need to attest by employer – UAN Based Withdrawal”

EPF Withdrawal become very easy for employees

“No need to attest by employer – UAN Based Withdrawal”

Great news from EPFO to those are covered under EPF ACT’1952 or employed in any organization where EPF is deducting from their salaries or those are left and wants to withdrawal their PF accumulations.

 
An order on 01^st, Dec’2015 has been issued from EPFO wide order Number “WSU/10(1)2011/Changes in MAP/31406”; in exercise of powers conferred under para 78 of Employees’ Provident Funds Scheme 1952, the Central Govt. has directed the changes in withdrawal of EPF accumulation.

Click Here to download : Letter from EPFO on 01-Dec-2015

Directed points are:

A. This mentioned direction has been made operational with immediate effect:

An employee those details like Aadhar and Bank Account number have been seeded / clubbed with their UAN and who UAN have been activated, may submit claim Forms 10C & 19 to directly to the EPF Commissioner without attestation of their employers.

B. Pursuant to the above mentioned direction and notwithstanding “Point A” the provision of Para 72(5) of the Employees’ Provident Funds Scheme 1952, CPFC, hereby prescribed the new forms 19 UAN & 10C UAN for all employees whose Aadhar Number and Bank Account details have been seeded as KYC and have been duly verified by the employer using digital signature and the details in Form No.11 new have been completed.  

Click Here to download : UAN Based - Form 10C UAN 

Click Here to download : UAN Based - Form 19 UAN

C. All other employees not fulfilling the above conditions shall continue to make their claims of withdrawal in existing form No. 19 & 10C, as the case may be.

D. It is reiterated that form No. 19 UAN and 10C UAN need not to be attested by employer and should be submitted by the employee directly to the respective jurisdictional EPF office.

E. Same rules will be applicable for Form no.31 also.

Click Here to download : UAN Based - Form 31 UAN

F. Important Points are:

a. For UAN – Need to contact to employer to get the same.

b. Aadhar and Bank Account number must have seeded with UAN – Assured with employer.

c. Complete the Form10C / 10C UAN & 19 / 19 UAN with required necessary details (Not required employer attestation) – Submit the form directly to A/PFC.

d. Documents to be attached with withdrawal forms - A cancelled cheque (which containing member's name, bank account number and IFS Code) should be attached.

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