The Worker Provident Fund Organisation (EPFO) has made important progress in Updating KYC of its Subscribers Throughout July 2020 regardless of the coronavirus pandemic. In a giant success that’s more likely to make issues simpler for folks availing worker provident fund companies, the EPFO has up to date 2.39 Lakh Aadhaar Nos, 4.28 Lakh Cellular numbers & 5.26 Lakh Financial institution Accounts within the UAN of its subscribers in July.
Because the nation faces the unprecedented problem of the COVID 19 pandemic, the idea of social distancing has assumed immense significance. EPFO, because the principal social Safety Group within the nation, has been striving arduous, to supply unhindered companies to its subscribers via digital mode with nearly minimal contact.
The group, in its endeavour to increase the provision and attain of its on-line companies, has been proactively updating its Know Your Buyer (KYC) information to allow its subscribers in availing its companies via on-line mode.
The KYC updation is a one time Course of that helps within the identification verification of its subscribers via linking of the Common Account Quantity (UAN) with the KYC particulars. As soon as this train is accomplished and seeded KYC particulars validated, the EPFO subscriber turns into empowered to avail companies of EPFO via digital mode.
As a way to safeguard its subscribers and its staff, the group has consciously adopted a method for lively give attention to KYC updation of its subscribers, via deployment of its workforce on this important activity as Work From Residence exercise. A lot of EPFO workers members are solely assigned the duty of updating KYC, together with rectification of the small print as a WFH exercise. This has been undertaken as a time-bound train which has yielded very encouraging outcomes. This KYC updation has helped tremendously within the empowerment of EPFO subscribers for availing companies of EPFO in digital mode and thus eliminating want for any type of bodily contact with any workplace of EPFO for its wants.