Database soon of savings schemes linked with Aadhaar:

Database soon of savings schemes linked with Aadhaar:

Context

• Recently meeting chaired by cabinet Secretariat  to discuss the “interoperability of savings schemes” and linking them to Aadhaar.

What government is planning?

• The Cabinet Secretariat is keen on a central database of government and private sector employees who have subscribed to the general provident fund (GPF), public provident fund (PPF) and employees’ provident fund (EPF) with Aadhaar as the primary identifier.

What was the objective of meeting?

• To deliberate on Aadhaar linking of GPF, PPF and EPF accounts of employees,
• To examine the possibility of a centralised repository of employees’ fund details with Aadhaar as the primary identifier and
• To establishing portability of fund accounts across organisations.

Some facts related to EPF, GPF, PPF

• For government employees, the Ministry of Finance said that it is developing Employees’ Information System, an online salary application system, which may also be used to maintain information related to GPF.
• While EPF is the savings scheme for private sector employees, the GPF is meant for government employees and PPF can be subscribed to by all workers.
• The Department of Posts informed the Cabinet Secretariat that 4.7 crore out of 56 crore PPF accounts in post offices were linked with Aadhaar.