Universal Account Number (UAN) compulsory for all companies
Posted on: 27/Jun/2015 11:11:43 AM
Under the new order, employers will have to get a declaration under Form 11 from all employees joining the company within a month’s time and upload the same on the UAN portal within 25 days of close of each month.
The UAN will be shared with all existing employees who are members of the fund within 15 days of being generated and an acknowledgment will be obtained. Know your Customer (KYC) details like bank account numbers, PAN, Aadhar numbers will also have to be uploaded within a month of the receipt of the UAN and Aadhar numbers then provided will have to be uploaded to the UAN portal within 15 days according to the new rules. The deadline for completing the formalities is August 25 after which action will be taken under the powers given to us by the Employees Provident Funds Scheme, 1952, and other applicable laws for failure to comply with the order.
