The Employees Provident Fund Organization is always looking for ways to make it easier for members to withdraw their PF funds. This is especially important when changing jobs or retiring, so employees can access their PF accounts without hassle. Now, these accounts will be linked to Aadhaar for better identification.
Delays Happen Due to Mistakes
Many members have been assigned one or more UAN numbers. When a member switches jobs, they only need to provide their UAN number to transfer their PF account. However, the issue of multiple UAN numbers still exists for some members. This can create confusion when they apply for withdrawals, as the system struggles to determine which PF account the request is coming from. As a result, withdrawals can take longer or even get rejected.
Aadhaar Will Help Solve Issues
The EPFO is working on a new system where if a UAN number is already linked to someone, they won’t get a new one issued. The UAN will be connected to the employee’s Aadhaar. If there’s no UAN linked to the Aadhaar, then a new one can be created.
The rule came out last year
Last year, they rolled out the one-time password system using Aadhaar, and now they’re working on making it even better. With this new approach, you’ll only be able to get one login number linked to your Aadhaar. This change will kick off once EPFO 3.0 is up and running.
You can link multiple UANs
EPFO is also allowing members to connect two or more Universal Account Numbers. Employees can apply for this either online or offline.