The retirement fund manager EPFO plans to replace PF account number with unique identification number, a move which will help in speedy transfer of a subscribers' funds in case of job change and allow them to track their accounts online. At present when a subscriber changes job, it takes months to transfer provident fund money from one account to another and so a large number of subscribers withdraw the entire money in their account and go for a fresh account with the new employer. The replacement of PF account number with the UID number will be done by March 2012.
Reference: Financial Express
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