New Delhi: Employees’ Provident Fund, or EPF, is an important aspect of any corporate employee’s working life, and there are a few things to know about it. Employees’ Provident Fund Organization (EPFO), a government-backed retirement agency, is a program that saves a portion of the employee’s salary as well as a portion of the employer’s contribution and distributes it after retirement.
On that subject, you must know that it is important to link your Aadhar card with the Universal Account Number issued by your EPFO. UAN is one of its kind unique number which is assigned to each employee and remains with them indefinitely.
EPFO has extended the deadline for linking UAN with Aadhaar number. The deadline has been pushed back to November 30, 2021. The old deadline for adding numbers was August 31, 2021.
EPFO announced the most recent date this year on November 15. The Employees’ Provident Fund (EPF) account should now be linked to the Aadhar card, thanks to the recent amendment to Section 142 of the Social Security Code 2020. The EPFO had said that it would be effective in June this year.
“In partial amendment of Circular No. WSU/15(1)2019/ATR/529 dated 15.06.2021 vide Ref., it is informed that the date of seeding and verification of Aadhaar with UAN has been extended up to 30.11.2020 . 2021 and accordingly, para 1 of the circular dated 15.06.2021 referred to as dated 01.09.2021 may be read as dated 01.12.2021,” the EPF said in a circular.
However, if you do not link your UAN with your Aadhaar number, you may face various consequences. For starters, if you don’t link the accounts, you won’t receive employer contributions.
The requirements for filing of Electronic Challan Cumulative Return by Retiring Authority (ECR) have also been amended. The EPFO said that the company can submit deposits only for those employees who have linked their Aadhaar with their PF UAN. “After the completion of the Aadhaar seeding process, the employer can file a separate ECR for the non-Aadhaar seeded UAN,” the regulatory authority said.
Employees will also experience delays in payments unless the accounts are linked and the data is approved by the employers and authorities. Also, they will not be able to withdraw PF funds from their accounts. Employees are also ineligible for COVID-19 advance and insurance benefits linked to PF accounts, which were announced earlier this year.
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//$(function() {
var layout = $(content_selector);
var st = 0;
///});
}
}
});
/*}
};*/
})(jQuery);
,