Retirement fund body EPFO made it mandatory for firms to provide their employees` bank account numbers with IFSC code of bank branch to facilitate allotment of universal PF account number and payment to its subscribers.
The Employees` Provident Fund Organisation headquarters has asked its over 120 field offices to seek the core banking account numbers with IFSC code of bank branch for seeding the same with the portable Universal PF Account Number (UAN).
At present, EPFO has already captured bank account details in respect of 1.80 crore employees, PAN details in respect of 86.9 lakh employees and Aadhar number in respect of 28.2 lakh employees.
The EPFO is in the process of making portable Universal PF Account Number (UAN) operational for its 4.17 crore contributing subscribers by October 15.