Companies, especially during background verification processes, can extract certain types of data using a PAN card number. In India, the Permanent Account Number (PAN) card is a crucial identification document that provides various information about an individual. Here are the types of data a company, especially a large MNC, can extract using a PAN card number:
1. Identity Verification:
- The PAN card number helps in verifying the identity of the individual, confirming details like name, date of birth, and photograph.
- It ensures that the candidate is who they claim to be, adding a layer of authenticity to the hiring process.
2. Financial Information:
- Through the PAN card number, a company can access financial information such as tax filings, income details, and any discrepancies in financial records.
- This information is crucial for assessing the candidate's financial stability and integrity.
3. Address Verification:
- PAN card details also include the address provided by the individual during the application process.
- Companies can verify the residential address to ensure it matches the information provided in the job application.
4. Compliance Check:
- PAN card numbers are essential for compliance with tax laws and regulations in India.
- Companies use this information to ensure that candidates are tax compliant and do not have any legal issues related to taxation.
5. Criminal Record Check:
- While the PAN card itself does not provide criminal record information, it can be used as a reference point to cross-verify details during a comprehensive background check.
- Companies may use the PAN card number to dig deeper into any discrepancies or red flags that arise during the verification process.
It's important for companies, especially MNCs, to handle this information with utmost confidentiality and in compliance with data protection regulations. Utilizing the PAN card number for background verification should be done responsibly and ethically to respect the candidate's privacy rights.