PF Update: EPFO ​​shares tips to prevent online frauds; All you need to know

The Employees’ Provident Fund Organization (EPFO) has issued an advisory through its social media pages alerting its members about online frauds and scams. The EPFO ​​asked the members to refrain from sharing any information related to their PF account over calls or social media interactions, even if the other person claims to be a representative of the organisation. EPFO clarified that it never asks for personal details like Aadhaar, PAN, UAN, bank account, OTP on call, WhatsApp or social media.

Stating that it never asks PF account holders to deposit money to avail its services, EPFO ​​advised not to respond to calls seeking personal details.

For more details and grievance redressal, account holders can contact EPFO ​​at https://epfigms.gov.in or connect toll-free number 1800-118-005. EPFO members have the option to get information about related services on the government-run platform UMANG App

Sharing personal details can allow hackers to log into your EPF account and compromise its security. Several cases of fraud have come to the fore recently where hackers logged into the PF account of the fraud victim and took out the balance without their knowledge. Those who have recently changed their jobs and are yet to transfer their EPF account to the new organization are at higher risk of such cyber attacks. The number of such phishing attacks of EPFO ​​and bank frauds had seen an increase during the lockdown last year. Law enforcement agencies busted several rackets involved in such scams.

If you have an EPFO ​​account and have received any such call, you can report the same to EPFO ​​or other law enforcement agencies.

The Employees’ Provident Fund Scheme offered by EPFO ​​is one of the largest social security schemes in the world. EPFO scheme is applicable to every organization having 20 or more employees. Under this scheme, the employee whose salary is more than Rs 15,000 per month has to make a fixed contribution (12 per cent) of his salary to the EPF account and the same contribution is paid by the employer. The employee gets an accumulated amount from his EPFO ​​account along with applicable interest at the time of his retirement. There is also a provision to withdraw this money before maturity.

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