New Delhi: Providential Funds Employees, or EPF, are important aspects of the work life of any company company, and there are several things that need to know about it. The Provident Carpictent (EPFO) fund organization, a pension institution supported by the government, is a program that saves a portion of employee payments and part of the employer’s contribution and distributes it after retirement.
On that topic, you must realize that connecting your Aadhaar card with an universal EPFO-issued account number is very important. UAN is the number one-of-type assigned to each employee and remains with them without limits.
Epfo has extended the time limit to connect aadhaar numbers. The deadline has been pushed back to November 30, 2021. The long time limit to connect the numbers is 31 August 2021.
Epfo announced the latest date on November 15 this year. The Provident Fund (EPF) fund account must now be associated with the Aadhaar card, thanks to a recent revision in section 142 Social Security Code 2020. Epfo has stated that it will apply in June this year.
“In Partial Modification No. Circular No. WSU / 15 (1) 2019 / ATR / 529 Date 15.06.2021 Under Reference, was told that the date of completing the seeding and verification of Aadhaar with the UAN, with this extended to 30.11. 2021 and hence, date In the 1 of the round called 15.06.2021 mentioned as 01.09.2021 can be read as 01.12.2021, “said EPF in a circle.
However, if you do not connect your UAN to your Aadhaar number, you can face a number of impacts. For starters, if you don’t link an account, you will not accept the employer’s contribution.
Archiving Requirements for Cumulative Returns Electronic Challan has also been amended by Pension Authority (ECR). Epfo states that companies can only submit for employees who have connected their Aadhaar to their PF UAN. “After the Aadhaar seedage procedure is complete, the employer can submit a separate ECR for non-aadhaar seeded,” said the Supervisory Authority.
Employees will also experience a postponement of payments until the account is linked and data is approved by employers and authorities. Next, they will not be able to withdraw PF funds from their account. Employees also do not qualify for the progress of Covid-19 and insurance benefits related to PF accounts, which were announced earlier this year.
