The Employee Provident Fund (EPF) is a scheme which is designed to help all the employees to save a small amount of their salary money on a monthly basis which after retirement, will give them good returns.
Savings under EPF is tax-free in nature as per the Income Tax Act of 1961. One can link their EPF account with Aadhaar number either by online mode or offline mode.
Use the EPFO online service and link your aadhar number to EPF
By using UMANG app you can easily link your aadhar with epf account. The app is available on google app or app store. Download the app and register yourself to link aadhar with epf account. Scroll down and go through the process.
Below are the steps to link Aadhar with your EPF account with e-KYC Portal of EPFO using the OTP feature:
Individuals who prefer to link their aadhar number with EPF account via offline mode has to visit the EPF office in their respective district and fill in the ‘Aadhaar seeding application’ form which is also known as EPF KYC and provide the necessary documents including the photocopy of Aadhaar card, UAN and PAN card along with the form. Submit the form to the executive at any of the field offices of EPFO. After verification, the aadhaar number will be linked to the EPF account. You will be receiving a message to your registered mobile number related to this.
The EPFO (employees provident fund organization) currently has more than 4 crore subscribers. It has so far requested all its members to link their EPF account with Aadhaar card.
The following are the list of benefits of linking Aadhaar with EPF accounts:
Some of the EPF account holders will face the name mismatch issue. If the name of an individual differs in the EPFO or UIDAI, then linking of Aadhaar card with EPFO is not possible. Due to the name mismatch issue, one may not be able to update it. If in case, your name on Aadhaar Card is different then do bring it to the notice of your employer.
The Employees Provident Fund Organization (EPFO) is an organization which helps to assist the Central Board of Trustees, and is formed by the Employees’ Provident Fund and Miscellaneous Provisions Act of 1952 and is currently under the administrative control of the Ministry of Labour and Employment, Government of India. The organization helps the central board in administering a compulsory contributory provident fund scheme, pension scheme and insurance scheme for all the working-class people in India who are engaged in the organized sector. The scheme covers all the Indian workers as well as international workers (in those countries with which bilateral agreements has been signed). It is one of the largest social security organizations in India in terms of the total number of beneficiaries covered and the volume of financial transactions undertaken.
The Universal Account Number or UAN was launched on October 1, 2014, for all the employees who are covered under the EPFO to enable the PF number portability.