Relief news: UAN-Aadhaar linking deadline extended for EPFO subscribers, can now be linked till 31st December :
The Employees Provident Fund Organization (EPFO) has extended the deadline for linking EPF account to Aadhaar to 31 December. EPFO has informed about it through social media.
Money can hang on not being linked
If you do not link the EPFO and Aadhaar number by 31st December, your account will be credited to the company.
Contributions will be stopped. Other than that it can cause you problems in withdrawing money from EPF account. EPFO holders cannot use EPFO's services if they are not linked to Account Support.
UAN-Aadhaar linking process :
- First you have to go to the EPFO portal epfindia.gov.in.
- Log in to your account using UAN and password.
- Click on the KYC option in the "Manage" section.
- In the page that opens you can see many documents to link to your EPF account.
- Select the Aadhaar option and type and save your Aadhaar number and the name written on the Aadhaar card.
- The information you provide will be protected. Your support will be verified with UIDAI data.
- If your KYC documents are correct, your support will be linked to your EPF account and you will see “Verify” written against your support information.
Both the employee and the employer put money in the EPF account
Under the EPFO Act, 12% of the employee's basic salary plus DA is credited to the EPF account. As well as the employer (company) also contributes 12% of the employee's basic salary plus DA. 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 earning 8.50% interest per annum.
What is a number?
Upon being registered with the Provident Fund Organization (EPFO), the employee becomes a member of the organization and is also declared a 12-digit UAN (Universal Account Number). EPFO's facilities can be used online using this number. With the help of UAN number, an employee can view the passbook of his PF account online and also check his PF (Provident Fund) balance online.
