The Employees’ Provident Fund Organization (EPFO) has extended the deadline for linking EPF account with Aadhaar to December 31. Earlier its last date was 31 August. Through social media, EPFO has given this information.
If you do not link money can stop
If you do not link the EPFO with the Aadhaar number by December 31, the contribution coming from the company to your account will be suspended. However, apart from this, you may face a problem withdrawing money from an EPF account. If the EPF account holder account is not connected to Aadhaar, then they will not be able to use EPFO services.
This is its process
- First, you go to the EPFO portal epfindia.gov.in.
- Using UAN and Password Login to your account.
- Click on the KYC option in the ‘Manage” option.
- You can see several documents to be linked with your EPF account.
- Select the option of Aadhar and click on save by typing your name on the Aadhar card and Aadhar number.
- The information will be secured, your Aadhaar number and name will be verified with the data of UIDAI.
- Once your KYC documents have been verified, your Aadhaar will be linked to your EPF account and you will be marked “Verify” before your Aadhaar details.
EPF account earns 8.50% interest annually
Under the EPFO Act, 12% of basic salary and employee DA go to the EPF account. However, the employer (company) also contributes 12% of the basic salary and DA of the employees. Also, of the company’s 12% contribution, 3.67% goes to the employee’s PF account, and the remaining 8.33% goes to the employees’ pension scheme. The EPF account earns 8.50% interest annually.
What is a Universal Account Number?
Once an employee is registered with the Provident Fund Organization (EPFO), the employee becomes a member of the organization and, in turn, is granted a 12-digit UAN (Universal Account Number). However, with the help of this number, the facilities of EPFO can be used online. An employee can not only see the passbook of his PF account online but also Employees can also check their PF (Provident Fund) balance online with the help of a UAN number, .
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