One Employee-One EPF Account

Epfo Launches a Special Drive :Mission Consolidation”One Empployee-One Account” on May Day

Question: When was the One Employee-One EPF Account drive launched by EPFO (Employees’ Provident Fund Organisation)?
(a) 2 October 2015
(b) 1 December 2015
(c) 30 April 2016
(d) 1 May 2016
Ans (d)
Related facts:

  • On 1 may 2016 Employees’ Provident Fund Organisation (EPFO) has launched a special drive ‘One Employee-One EPF’ to encourage EPF members to consolidate their multiple accounts.
  • The drive has been launched by Union Labour and Employment Minister Bandaru Dattatreya in New Delhi.
  • The initiative of launching the Mission consolidation “One Member One EPF Account” is a step towards encouraging EPF members to access enhanced IT enabled services through Universal Account Number (UAN) accounts that are linked with Aadhaar.
  • By the end of April 2016, UAN has been issued to some 67716584 members.
  • With consolidation, a member can have complete control of his EPF account apart from accessing variety of IT enabled services such as email/sms alerts, access to e-pass book etc.
  • EPFO has been advising members to link all their PF account numbers with the UAN and to also seed KYC data against their UAN number.
  • Aadhaar has been uploaded against 1.30 crore UAN, out of which 1.03 crore Aadhaar have been digitally authenticated by the establishments.
  • With the enactment of Aadhaar Act, 2016 (26th March 2016), EPFO is now seeking to make Aadhaar, the primary identifier.
  • In order to boost the process of seeding the Universal Account Number (UAN) with KYC, an “Incentive Scheme” has been launched for the employers.
  • Under this scheme a claim refund of upto 10% of administrative charges payable to EPFO can be claimed upon completing specified tasks (furnishing member information and digitally authenticated KYC details).
  • The Scheme shall be in operation for one year, beginning 1 st January 2016 to 31st December, 2016
  • During this drive following actions will be taken by EPFO:
  1. Run a Publicity campaign at regular intervals in Print, electronic and digital media
  2. A software has been launched for centralized processing that will transfer and consolidate accounts with ease.

Reference:
http://www.epfindia.com/site_docs/PDFs/EPFO_PRESS_RELEASES/PressRelease_01052016.pdf
http://pib.nic.in/newsite/PrintRelease.aspx?relid=143612