Aadhaar number is a 12 digit identification number which can be linked to a host of services, which help you to get immense benefits, apart from convenience. This number will act as proof of identity and address, anywhere in India. To reap the benefits of Aadhaar, one has to link it to different segments. Read on the benefits you lose without an Aadhar Card.
1) Provident Fund
To have easy online EPF withdrawal, it is better to link your Aadhaar to your pension account, as this will help to facilitate faster withdrawals. Almost all companies are now insisting in linking Aadhar card to EPF, for speedy processing and faster withdrawals.
To receive LPG subsidy, ideally you should have your bank account linked to your Aadhaar card number.
Aadhaar card will work as identity proof and address proof for the opening of bank account. It means that there is no need to submit a bundle of documents for verification. In worst case also, the bank will accept the Aadhaar letter or e-aadhaar which is downloaded from the website.
3) Digital life certificate
Pensioners can approach their paying branches with the PPO, Aadhaar card and bank pass book for trouble-free seeding of Pensioners' Aadhaar number in their bank account.
The "Jeevan Pramaan" - an Aadhaar-based Digital Life Certification system will facilitate on-line submission of life certificate by pensioners. Means there is no need to visit bank every year for submitting.
4) Mutual funds, Insurance companies
The Securities Exchange Board of India, IRDA has decided that the Aadhaar Letter issued by UIDAI shall be allowed as proof of address and proof of identity to invest in stock market or buying insurance online. Individuals can upload the documents online for the e-KYC purpose.
5) Monthly pension
In order to reduce the fraud in withdrawing pensions, the pensioners need to register the Aadhaar number to receive a monthly pension.
7) Digital Locker
DigilLocker is a storage space where you can hold all your electronic documents, which will be linked to you Aadhaar card number. Individuals can also upload their own electronic documents and digitally sign them using the e-sign facility.