EPF account holders should submit Aadhaar card or Adhaar Enrollment Slip by 31.01.17 to get benefits

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As per directions of EPFO, Pensioners and subscribers of Employees’ Provident Fund Organisation should submit their Aadhaar card or proof of application for the Adhaar Card by the end of January 2017 to continue getting their benefits under EPF schemes

The deadline to submit Aadhaar or enrolment slips is January 31.

As per directions of the Labour Ministry, submission of adhaar card or adhaar enrollment slip is made mandatory as central government is contributing 1.16% of Basic wages as subsidy to every EPS account holder. Now a day government is linking all its schemes with adhaar number so as to avoide mis use of funds under the Government schemes.teh same is mentioned in the Section 7 of the Aadhaar (Targeted Delivery of Financial and other Subsidies, Benefits and Services) Act, 2016, to issue the notification.

The Central Government is spending Rs. 850 crore annually to contribute 1.16% of wages to EPS

While the Centre puts 1.16% of an employee’s basic salary towards the scheme, the employer contributes 8.33% of the employee’s salary. In total, the Centre gives Rs 850 crore every year as annual budgetary support to the scheme. Currently, the minimum pension under EPS is Rs 1,000 a month and an employee can receive the amount only after a minimum 10 years of service.

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