The new rule of The Employee's Provident Fund Organization's (EPFO) to link the Aadhaar number with the Provident Fund (PF) account came into effect from Tuesday. According to EPFO, if the PF account holders cannot adhere to the rule, it will have a major effect on their EPF contribution. It means that the employer's contribution will not be credited into the account.
According to the new EPFO rule, every account holder should have his or her PF account linked to the Aadhaar Card.
What is the new rule?
Under Section 142 of the Social Security Code 2020, the EPFO has taken a new decision. It has instructed the Employer (Company) that from June 1, if PF account is not linked to Aadhaar or UAN is not Aadhaar verified, then its ECR (Electronic Challan cum Return) will not be filed.
This means, though the employees can see their own PF account contribution, but cannot get the employer's share.
What needs to be done?
Link PF account with Aadhar and also the Universal Account Number (UAN) needs to be Aadhaar verified. The EPFO has also released the notification regarding this.
How to link EPF account with Aadhaar?
Login to your EPF account at the unified member portal
Click on the “KYC” option in the “Manage” section
You can select the details (PAN, Bank Account, Aadhar, etc) which you want to link with UAN
Fill in the requisite fields
Now click on the “Save” option
You are done.