EPFO has made major changes in the rules. Under the new rules, it has been made mandatory to link EPF account with Aadhaar. If someone does not link his account with Aadhaar by August 31, then money will not come into his account. EPFO had decided to link Aadhaar under Social Security Code 2020. Under this, the Universal Account Number (UAN) of all EPF account holders is also required to be
verified. We are telling you how you can link your EPF account with Aadhaar.
If you do not link EPFO and Aadhar numbers before 1st September, then the contribution coming from the company in your account will be stopped. Apart from this, you may also face trouble in withdrawing money from the EPF account. If the account of the EPF account holder is not linked with Aadhaar, then they will not be able to use the services of EPFO.
Under the EPFO Act, 12% of the basic salary plus DA of the employee goes to the EPF account. So at the same time, the employer (company) also contributes 12% of the basic salary plus DA of the employee. Out of the 12% contribution of the company, 3.67% goes to the employee's PF account and the remaining 8.33% goes to the employee pension scheme. The EPF account is getting 8.50% interest annually.
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