The Employees' Provident Fund Organisation and the Labour Ministry are in touch with the Prime Minister's Office for the purpose, a senior official said.
EPFO's Central Provident Fund Commissioner K K Jalan has said that these directives shall help the body in getting the bank account details of all the members which are necessary for making UAN operational.
The online application of such claims would enable EPFO to eventually settle those within three days.
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Retirement fund body EPFO will provide permanent or universal account numbers on the pattern of core banking services to its over 5 crore active subscribers.
The government has reduced the stipulated period for settlement of various claims like PF withdrawal, pension and insurance by the retirement fund body EPFO to 20 days from the existing 30 days.
This facility will be available to all those subscribers whose Universal Account Number (UAN) is activated and seeded with the KYC details like bank account and Aadhaar number.
Retirement fund manager EPFO that has initiated the process of seeding KYC details like PAN, Aadhaar of contributing members for making Universal Account Number (UAN) has set a target of seeding 2 crore (20 million) bank account data by end of this month.
Employees Provident Fund Organisation is likely to issue permanent account numbers to employees.
The government has found about 900,000 beneficiaries of its flagship job formalisation scheme, the PMRPY, were ineligible in the first place as they were part of the formal economy even before the inception of the scheme. The EPFO has also recovered Rs 222 crore so far from the employers concerned.
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EPFO has recently issued Universal PF Account Numbers for 4.17 crore contributing members.
With the new facility, settling PF withdrawal claims would just take few hours.
EPFO has a subscriber base of around 6 crore (Rs 60 million).
There will be tripartite pact with member, bank/housing agency and EPFO.
Tomar had discussed the two proposals with trade unions on June 24 and assured that the government will take at least two weeks to take a decision.
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The number of contributors was 46.4 million in July and 44 million in September.
When the state is unable to provide adequately for the bottom half of the population, should it be giving tax benefits to the well-off?
EPFO had started allotting UAN numbers in July 2014.
EPFO is also contemplating providing permanent or universal account number to it all active members by October this year.
A part of Rs 6.5 lakh cr corpus may be used to set up Workers' Bank.
The EPFO launched one-page simplified forms for withdrawal.
The deduction will be higher and net take-home pay will fall.
Modi said these steps exemplified his government's approach of 'minimum government and maximum governance'.
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