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How to Modify the Name, Date of Birth of the EPFO Subscriber Online

The EPFO which is otherwise called as the Employees Provident Fund Organization has come up with another online facility for correcting the details such as the name, date of birth etc. of an employee. It has been found out that, people are facing a lot of issues regarding the making of the corrections or modifications of the details of the EPFO account holder. This is the reason due to the mismatch in the name, date of birth or gender in the UAN Data and UIDAI (Aadhaar) data says the Retirement Fund Body EPFO.

The UAN or the Universal Account Number is a unique number that is assigned to an employee which serves as an umbrella for multiple member IDs provided to an individual by different establishments where he or she has worked. The UAN helps to link with multiple member IDs allotted to the single employee under a single UAN.

How to Modify the Details of the EPF Account Online

In case of the offline mode, if an EPFO subscriber wants to make any correction on his/her basic details such as the name, date of birth etc. then the employee and the employer has to submit a joint request to the concerned EFO Office. This process was a bit complex and time-consuming. Therefore, to minimize the pressure the EPFO has introduced the online facility. Now the subscribers can request online to make corrections in the basic details.

While accepting a request from the member, the system will compare and analyze the requested changes with the similar fields receives from the UIDAI (Aadhaar). After a successful verification, the request will be transferred automatically to the employer’s login for the online transmission to the EPFO field office. After getting the online request the EPFO will process the requested corrections.

Below are the steps to correct the Name, Date of Birth and Other Details of the EPFO Subscribers:

  1. Log in using the Member Interface of Unified Portal through the UAN Password.
  2. Click on the Manage section and select for “Modify Basic Details” option.
  3. Provide the required details as mentioned in Aadhaar (the system will verify the details entered with UIDAI Aadhaar Data.
  4. Click on the update details. The request will be sent to the employer for further approval. The employer can also withdraw the request if he/she wants to delete/reject Request.
  5. The employee has to log into the Employer Interface Unified Portal. The employer can view the change requests that have been submitted by the employees, so that the employer can take action for the further procedures.

After the approval of the request, the employer can view the latest request status. After the approval of the request, it can also be viewed in the EPFO Unified Portal. After the verification, the person can submit his/her recommendations to the Section Supervisor. Finally, the EPFO Office can approve as well as reject the case.

The EPFO (Employee’s Provident Fund Organization) has launched a new online facility for over 4.5 crore members. This facility allows merging their multiple provident fund accounts with the current Universal Account Number (UAN)…Read More

How to Login to EPFO Member Portal

EPFO stands for Employees Provident Fund Organization. It is a statutory body under the Ministry of Labour and Employment, Government of India. The Organization was founded on 4th of March 1952.

The Organization offers special services such as:

  • Employees Provident Scheme 1952
  • Employees Deposit Linked Insurance, Scheme 1976
  • Employees Pension Scheme 1995

Member Portal of EPFO

The link for the online portal of the EPFO is members.epfoservices.in. The portal provides all the information and services which are related to the Employees Provident Fund.

To experience the services such as checking your EPF balance etc. you need to log in to the portal and ask for the permission to access the online EPF Account Passbook.

How to Login to the EPFO Member Portal

Follow the below given steps to log in to the EPFO Member Portal:

  1. Visit the EPFO Member Portal: unifiedportal-mem.epfindia.gov.in.
    EPF Member Login
    EPF Member Login
  2. In the main page for the registration, fill in the required details.
  3. Ensure that you enter the correct documents type since you will have to log in to the portal using the same details provided by you.
  4. After the registration process, log in to the EPFO Member Portal. If you wish to register into the portal with the help of the PAN Card, you will have to select the PAN Number from the tab mentioning “Select Any One Document” and enter your PAN Number.
  5. Now check the details before submitting, to get the PIN Number.
  6. After the submission of the details, you will get an authorization PIN.
  7. Now enter the authorization PIN, and you will be registered.
  8. From the above-mentioned steps, you can now easily open the member portal by entering the specific details such as the mobile number, document type, and document number and successfully download your EPF Passbook from the website.

EPFO Member Portal: (Things to Remember)

  • You can use only one mobile number during the process of registration.
  • You can add multiple id numbers, and you can use anyone with your mobile number to login to the EPFO Member Portal.
  • After registering yourself, you can be able to view your EPF Passbook. It is to be noted that you will be able to use this facility only if your employer has uploaded the electronic challan cum return from the wage month May 2012 onwards.
  • Being a registered member, you can only view one account under one employer. If you have more than one account with one employer then you should apply for a transfer by filling in the required details in Form 11.
  • You will be able to view 10 accounts under different organizations (establishments). There is no restriction on the number of times you view all the accounts.
  • You don’t have to create any User ID or Password. You just need your registered mobile number and anyone identification proof (Aadhaar/ PAN/ National Population Register/ Voter ID/ Driving License/ Passport) to register and Log in.
  • If in case you wish to view the inoperative accounts, you need to make one official request for using the facility to display the inoperative accounts.
  • It is, however, important to note that the facility is not available to the current members of the organizations (establishments) which have an exemption as per EPF Scheme 1952.

UAN Portal

Prime Minister Narendra Modi has introduced the Universal Account Number (UAN) which is a 12-digit unique number to facilitate Provident Fund (PF) number portability. The UAN Number is allotted to the employee who is contributing to the EPF and will be generated for each of the PF Member by EPFO. The link to access the EPFO’s Universal Account Number (UAN) Member Portal is – unifiedportal-mem.epfindia.gov.in

This offers several facilities via one single window.

UAN Umbrella

The UAN acts as an umbrella for the several individuals working under different organizations or establishments. UAN, therefore, links a multiple Member Identification Numbers of one Member. If you have been already allotted with a Universal Account Number (UAN), then you have to give the same to the new employer so the latter can mark the new Member ID to the allotted UAN.

You need to contact your Organization to get your UAN. After that, activate your registration to access different facilities such as the downloading of the UAN card, Updating of the KYC Details and much more.

EPFO’s New Feature – Now Merge Multiple Provident Fund Accounts

The EPFO (Employee’s Provident Fund Organization) has launched a new online facility for over 4.5 crore members. This facility allows merging their multiple provident fund accounts with the current Universal Account Number (UAN).

Under this facility, the subscriber can merge as many as 10 previous accounts with their UAN in a go. Currently, the EPFO subscribers are requested to file separate transfer claims online using the UAN on the EPFO’s UAN Portal.

To avail this facility, the subscriber has to activate their UAN which is seeded with the bank accounts along with the other details such as the Aadhaar and PAN details. It states that “One Employee with One EPF Account”.

EPFO Services
EPFO Services

According to the Official, the EPFO has already issued a direction to its over 120 offices earlier this week to use this service. The objective of this service is to ensure that a multiple number of accounts are consolidated as early as possible.

The subscribers have to provide their current activated UAN, their member ID (identification) and registered mobile number at UAN Portal. After the validation of the credentials of the members, the EPFO will allow them to register their previous EPF Account numbers for the consolidation with the current UAN.

EPFO Multiple PF Account
EPFO Multiple PF Account

This online facility can be accessed on the EPFO Website located at the “Employees Corner”.

EPFO makes online claims must for PF withdrawals above Rs 10 lakh

Employees’ Provident Fund Organization or EPFO which is a retirement fund body is mandatory to file online claims for provident fund withdrawals above Rs. 10 lakh, which is another step towards becoming a paperless organisation.

The EPF account holders are also required to file online claims for withdrawals of above Rs 5 lakh under the Employees Pension Scheme 1995 which has been mandated by the Employees’ Provident Fund Organizations (EPFO).

EPFO offers both the option of filing online as well as manual claims for provident fund withdrawal as also for pension to the EPF subscribers.

This decision of filing online claims for withdrawal of certain amount of money has been taken at a meeting chaired by Central Provident Fund Commissioner on January 17, 2018, said by an official

The official also said that

the field offices have been directed that the claims must be accepted online in case the amount of provident fund withdrawal is above Rs 10 lakh.

They also added that

Similarly, the claims must be online in case the amount is above Rs 5 lakh under the employees’ pension scheme.

Also note that the EPF account is required to be linked and verified in the system before the online claims can be settled. Also, the subscriber is required to have an activated universal account number.

And as per the rules, the claims exceeding the said limit would not be accepted in the physical form now onwards.

At present, the EPFO has over 6 crore subscribers and a corpus of Rs 10 lakh crore.

EPFO offers new facility for the citizens to generate UAN (Universal Account Number) easily. UAN is a 12 digit unique number which is allotted to every member of EPF (Employees’ Provident Fund), which helps the employee to keep a check of his EPF account.

To know more about it you can also read here – EPFO 

EPF Interest Rate Falls Again & This Time It Came Down To 8.55%

Interest rates of EPF (Employees’ Provident Fund) keep on falling. Two years back, EPFO (Employees’ Provident Fund Organizations) paid 8.8% on EPF balances. And now the Central Board of Trustees (CBT) of the EPFO is putting forward a reduction of interest rate on PF balances to 8.55% for 2017 – 18 as compared to 8.65% the year before.

In defiance of the falling rates of EPF, it still holds saving advantages over other retirement savings fund.

In respect to the matter, CEO and founder of Clearfunds.com said that

it is backed by Government of India, and secondly, while the rates may vary each year, they generally move around a small band. Importantly, EPF is tax – free during the period interest is earned as well as at the time of withdrawal”.

Benefits of Investing in EPF

EPF comes with a lot of advantages which are as follows:

  • In EPF, interest earned on funds is tax – free
  • Investing in EPF guarantees savings as one cannot withdraw from its account easily. And in retirement, that saved money can be used for financial security. Or the funds can also be used at the time of the emergencies in life
  • If an employee is planning a long – term investment, this scheme is just for them
  • In times of need, especially in certain cases such as marriage, medical, housing, education, EPF funds can provide an employee much needed liquidity
  • EPF can also be transferred from one company to the other through UAN (Universal Account Number) if you changes your job

Difference Between EPF & PPF

EPF (Employees’ Provident Fund) and PPF (Public Provident Fund) are both long term investment schemes. However, both are different schemes which are as follows:

EPF PPF
Lock – in – Period There is no lock – in – period The maturity period of PPF is after 15 years and one can extend up to 5 more years
Tax Implication EPF qualifies under 80 C of Income Tax Act PPF qualifies under U / s 80 C. However, on maturity there is no tax
Interest Rates 8.65 % two years back. And new suggested interest rate is 8.55 % The interest rate for now is 8.7 per cent
Loan Option The account holders can avail loans only for conditions applied by the authority Account holders can apply for loans up to 50 per cent of the balance of the 4th year from 6th year onwards
Withdrawal Facility An individual having an amount can withdraw amount for personal needs providing necessary documents Individuals cannot withdraw money till the completion of tenure

Rate Comparisons Between EPF Vs Other Retirement Savings Scheme

Instruments Interest Rate of 2017 – 18 (in %)*
Savings Deposit (SD) 4
5 Year Time Deposits (TD) 7.4
5 Year Recurring Deposit (RD) 7.1
5 Year Monthly Income Schemes (MIS) 7.3
5 Year National Savings Certificate (NSC) 7.6
Public Provident Fund (PPF) Scheme 7.6
Employees Provident Fund 8.55

 

*2017 – 18 Q4 Rates / as per latest announcement