Hon'ble Supreme Court permitted to make it compulsory where ever government schemes are availed by the beneficiaries. ESIC has discontinued linking of Aadhaar, whereas EPFO not yet. EPFO performs like a Bank or Insurance agency. (a) Contribution into Account No.1 is just like a S.B. Account in a Bank (paid with Compound interest) (b) Employer's contribution into Account No.10 do not fetch any interest. 80% members withdraw before they become eligible for Member Pension (less than 10 years of contribution). Interest earned by EPFO on such 80% amount along with balance 20% contributions can easily be disbursed as Member or Death Pensions. While sanctioning such pensions, Aadhaar linking can be insisted. (c) Employer's contribution of 0.5% towards EDLI Scheme is nothing but L.I.C. Schemes. None of the above institutions charge such heavy Adm Charges (Sri Modi brought it down to 0.5% from 1.1% prevailing before 01.01.2015).
Most of the members are struggling while withdrawing their amount, since OTP is sent to the Mobile Number registered with UIAI, as such number is either lost or changed (and not to Mobile registered with EPFO)
Submitting the above, I request seniors to appose and it should reach to Hon'ble Supreme Court to consider this important aspect while giving its final judgement.
GURUNATHA RAO M.
Most of the members are struggling while withdrawing their amount, since OTP is sent to the Mobile Number registered with UIAI, as such number is either lost or changed (and not to Mobile registered with EPFO)
Submitting the above, I request seniors to appose and it should reach to Hon'ble Supreme Court to consider this important aspect while giving its final judgement.
GURUNATHA RAO M.