New Delhi: Employees’ Provident Fund Organization (EPFO) has made some modifications within the guidelines for its PF account holders and failing to stick to the rule will majorly have an effect on your EPF contribution. The new guidelines will probably be relevant from June 1,2021.
Linking of PF account with Aadhaar
According to the brand new EPFO rule, each account holder ought to have his or her PF account linked to the Aadhaar Card. It would be the duty of the employer to ask the workers to confirm their PF account. If by June 1, the workers fail to take action, then they could undergo a number of losses –one such being that the employer contribution to the PF account can also be stopped. A notification on this regard has additionally been launched by EPFO.
What is the brand new rule all about?
The EPFO has carried out new guidelines underneath part 142 of the Social Security Code 2020. The regulatory physique has clearly instructed the employers that from June 1, if a PF account shouldn’t be linked to Aadhaar or UAN shouldn’t be Aadhaar verified, then its ECR-Electronic Challan cum Return is not going to be stuffed.
This means, although staff can see their very own PF account contribution, they will be unable to get the employer’s share.
How to hyperlink EPF account with Aadhaar
Login to your EPF account on the unified member portal
Click on the “KYC” choice within the “Manage” part
You can choose the main points (PAN, Bank Account, Aadhar and so forth) which you need to hyperlink with UAN
Fill within the requisite fields
Now click on on the “Save” choice
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