It has been determined to pay the curiosity of FY 2019-20 in two installments to over six crore members of the Employees Provident Fund Organization. EPFO has to pay curiosity on PF on the fee of 8.50 per cent. Your Universal Account Number (UAN) needs to be activated, how a lot curiosity is acquired or to see the PF passbook. If you wish to withdraw cash from PF, then your UAN needs to be linked to your appropriate checking account. If you will have an incorrect account linked to your UAN, don’t worry, it may be repaired at dwelling.
Explain that each provident fund account holder is given a common account quantity. With UAN, the account holder can discover the small print of every of his PF accounts in a single place. The UAN is linked to the PF account, in addition to the small print of the checking account of the employer can also be added to it. Money is collected on withdrawing PF quantity in the identical account.
What will occur if the incorrect account quantity is linked
What if incorrect checking account particulars are linked with UAN? EPFO says that if the incorrect checking account quantity or IFSC is linked with UAN, then future withdrawal of EPF quantity might fail. If the incorrect checking account particulars are linked together with your UAN then there is no such thing as a want to fret. The worker can replace the checking account particulars within the on-line UAN whereas sitting at dwelling. How, let’s know…
- First of all go to the Unified Member Portal of EPFO https://unifiedportal-mem.epfindia.gov.in/memberinterface/.
- Log in right here by getting into UAN and password.
- Now click on on the ‘Manage’ tab. A drop down menu will seem in entrance of you.
- Select KYC on this menu.
- Now choose the financial institution and fill the checking account quantity, title and IFSC and click on on save.
- After this data is accepted by the employer, your up to date financial institution particulars will begin showing within the accepted KYC part.
Also learn:EPFO: Money is coming quickly within the account of PF account holders! Check your stability like this
If your employer shouldn’t be reacting to the financial institution particulars updation request, first discuss to the HR division or administration about this. However, if the small print are taking longer to get accepted, then contact the upper authorities. If despite this no motion is being taken by the corporate, then complain on EPF Grievance.