EPFO UAN Activation: Your EPF balance may lose Diwali 2019 bonanza if you don’t do this! Read Provident Fund alert
EPFO UAN Activation: As Diwali 2019 is just a fortnight away, the Employees’ Provident Fund Organisation (EPFO) has announced a big bonanza for around 6 crore employees. Union Labour Minister Santosh Gangwar has said that the EPFO will credit EPF interest for the year 2018-19 before Diwali 2019. However, this benefit would reach to only those employees who have done the EPFO UAN activation – means those employees who have got the UAN (Universal Account Number) from their recruiter. If they are yet to receive UAN, then they still have time left. They can ask for the UAN from their recruiter and do the EPFO UAN activation online, which takes a few minutes only.
Speaking on the matter Kartik Jhaveri, Manager – Wealth Management at Transcend Consultants said, “It is mandatory for all those employers who have more than 20 employees working for them to register with the EPFO. If the employer is registered with the EPFO, all employees who are working in that organisation with a basic wage of up to Rs 15,000 must join the Employees Provident Fund (EPF) as well. 12 per cent of the employee’s salary is contributed by the employer and employee each towards the Provident Fund (PF). Upon registration of UAN, the employee will be able to view the balance as well as the PF withdrawal amount online.”
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SEBI registered tax and investment expert Manikaran Singh added to that by saying, “UAN is generated for each PF account holders by the Employee Provident Fund Organization and made available to employers on the Online Transfer Claim Portal (OTCP). Individuals will need to activate or register their Universal Account Number in order to access various facilities mentioned on the EPFO website epfindia.gov.in.” He said that the procedure for EPFO UAN activation is very simple and can be completed in a few minutes.
In order for individuals to do EPFO UAN activation, it is mandatory that he or she knows its UAN number, Member ID, Aadhaar number, or PAN.
So, what you need to do is to get your employees provident fund UAN from your employer and do the EPFO UAN activation as soon as possible and get the Diwali 2019 big that was bonanza announced by the Union Labour Minister. Once you are done with it, you can do the EPF balance check by sending SMS at 7738299899.
Tags: EPFO, EPF (also use Employees Provident fund), PF (It should be Provident Fund), Personal Finance