New Delhi: To extend the availability and reach of its online services, which have become crucial in the wake of the COVID-19 pandemic, Employees’ Provident Fund Organisation (EPFO) updated Know your Customer (KYC) data for its 73.58 lakh subscribers during the month of April to June 2020. This included Aadhaar seeding for 52.12 lakh subscribers, mobile seeding (UAN activation) for 17.48 lakh subscribers and bank account seeding for 17.87 lakh subscribers.
KYC is a one-time process which helps in identity verification of subscribers through linking of Universal Account Number (UAN) with KYC details.
The Ministry of Labour and Employment stated here on Monday that further, to enable KYC seeding on such large scale, EPFO had also undertaken massive exercise of rectifying the demographic details of the subscribers even during the lockdown phase. “This resulted in 9.73 lakh name corrections, 4.18 lakh date of birth corrections and 7.16 lakh Aadhaar number corrections during April-June 2020,” it stated.
It may be mentioned that KYC updation enables a member to avail online services through member portal. (S)He can file online for final withdrawal and advances including the recently introduced COVID-19 advances under Pradhan Mantri Garib Kalyan Yojana (PMGKY). It facilitates hassle free online transfer of PF account on switching jobs. Any KYC compliant member can avail all the online services either through desktop or through Umang App.
– globalbihari bureau