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Changes going to happen in the rules related to PF account, it will be difficult to withdraw money


Changes going to happen in the rules related to PF account, it will be difficult to withdraw money 1

New Delhi. Now the Employees’ Provident Fund (EPF) subscriber has time till September to link his PF account with Aadhaar. The Employees’ Provident Fund Organization (EPFO) has made it mandatory to link all PF UAN (Universal Account Number) with Aadhaar. Earlier its deadline was fixed till 1 June 2021. And now it has been extended till September 1.

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The Ministry of Labor has implemented this rule under section 142 of the Social Security Code, 2020. Under the provision of section 142, the employees working in any organized or unorganized sector will have to establish their identity with Aadhaar under the Social Security Code.

It is necessary to link PAN and Aadhaar with all types of bank accounts, PPF accounts and EPF accounts. If this is not done then neither the interest will be credited to the PF account nor will they be able to withdraw the amount.

ECR filing date also extended

The government has extended the date of implementation of Electronic Challan cum Receipt (ECR) or PF Return to Verified UAN (Universal Account Number) till September 1, 2021.

The notification has been issued by EPFO. Under this, the EPFO ​​said that the ECR of the employees who have completed Aadhaar verification from PF UAN will be filed by the employer. This filing will be done by the employer only when these employees link their Aadhaar with PF UAN.

Will not get the benefit of EPF account

If an employee has not updated the Aadhaar details in his EPF account, then he will not be able to get any benefit of this scheme. The benefit of insurance benefit linked to Kovid-19 advance and PF account will not be available.

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Aadhaar details need to be updated

Actually, EPFO ​​is trying to make all the work of its subscribers online. This includes KYC updating as well as applications for withdrawal etc. In such a situation, updating Aadhaar in EPF account has been made mandatory.

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