I always thought PAN card is going to get morphed into a Social Security Number. However Government of India continues to amaze me. The EPF (Employee Provident Fund) is going to allot National Social Security Number to each and every employee.
Its too early for me to comment on it, but I am 90% sure its going to have no major impact on the individuals. Why:
1) There was no entry for PAN no in the registration form.
2) No entry for Passport Number/Ration Card Number/Voter ID.
Hence all the existing records of the individual cannot be unified. This number would be like Mutual Fund identification Number… another hassle/paperwork.
3) What percentage of people actually do have an EPF account? A large part of our workforce is in informal sector, self-employed (professional/business) or migratory/temporary in nature. There is a large number of people (say housewives) who were never employed, a large population is youth.. too young to be employed.
4) Social security is irrelevant unless it reaches the ones who need it the most. Where is the provision for physically/ mentally challenged, the unemployed graduates, the suicide prone farmers?
I do not know the idea behind this move, but calling it a national security number at this stage would be to make the mockery of what people expect.