Employees’ Provident Fund Organization (EPFO) has started a special facility for pensioners. More than 73 lakh pensioners will benefit from this facility.
Pensioners will now be able to submit a digital life certificate from anywhere in the country using face authentication technology. The facial recognition verification will help the elderly pensioners who face difficulties in collecting their biometrics such as finger print and eye recognition due to old age for filing life certificates.
Now pensioners will not have to make rounds of banks for digital life certificate. All the work related to this will be done at home, that too from your mobile phone. Face authentication technology ie Facial Recognition Technology can be used in mobile phones.
EPFO’s decision
Labor and Employment Minister Bhupendra Yadav, chairman of the Central Board of Trustees, the decision-making body of EPFO, has started this facility. Earlier, the CBT in its 231st meeting gave in-principle approval for centralized distribution of pension to further improve EPFO services for pensioners.
Now we know what is face authentication technology which is completely based on facial recognition technology. This facility will help in verification of people whose biometric authentication is facing problems due to fingerprint issues, old age or hard work. Under this, UIDAI has launched the FaceRD app to verify the identity of Aadhaar users.
This app easily verifies your identity by capturing your face using face authentication technology.
What is EPFO
Now let’s also know about EPFO. EPFO i.e. Employees’ Provident Fund Organization is the largest social security organization in the world and is currently maintaining more than 24 crore accounts related to its members.
The Employees’ Provident Fund was established on 15 November 1951 with the issuance of the Employees’ Provident Fund Ordinance. Here, the CBT has also approved the appointment of Citibank as the custodian of securities of EPFO for a period of three years.
A proposal to extend the tenure of the existing custodian Standard Chartered Bank till a new custodian takes over was also approved.
