Now, Workers Provident Fund (EPF) subscribers could have time until September to hyperlink their Aadhaar card with the Provident Fund (PF) accounts. Workers’ Provident Fund Group (EPFO) has made it necessary to hyperlink Aadhaar Card with PF UAN (common account quantity) to get PF contributions from the employers and different advantages. The deadline was deferred to September 1, 2021 from June 1, 2021. “Linking of Aadhar with the UAN is necessary. Efficient 1 September 2021, employers won’t be able to remit PF for circumstances the place such linking will not be achieved,” stated Saraswathi Kasturirangan, companion, Deloitte India.
The labour ministry amended Part 142 of the Code of Social Safety 2020 to implement this new rule. Part 142 gives for establishing the id of an worker or an unorganised employee or some other particular person by Aadhaar quantity for looking for advantages and availing companies underneath the Code.
“The Code on Social Safety, 2020 is a laws to amend and consolidate the legal guidelines referring to social safety with the purpose to increase social safety to all workers and employees within the organised/unorganised or some other sectors. Though the Code has not been carried out as but, Part 142 of the Code has been notified by the ministry of labour and employment on June 3, which mandates that the Aadhaar quantity must be offered by workers and unorganised sector employees who’re looking for registration, advantages or count on to obtain any cost underneath numerous schemes,” stated Amrita Tonk, companion, L&L Companions.
“The EPFO has issued a notification whereby it’s now the duty of the employer to make sure that their workers hyperlink their provident fund account to their Aadhar quantity,” he additional added.
The date of implementation for submitting ECR (digital challan cum receipt or PF return) with Aadhaar verified UANs was additionally prolonged to September 1, 2021, the EPFO stated in a notification. The retirement physique earlier stated that the employer can solely file ECR for these workers who’ve linked their Aadhaar to PF UAN. “Employer can file separate ECR for non-Aadhaar seeded UAN after completion of Aadhaar seeding course of,” it added.
“The EPFO is transferring in direction of a web-based strategy for all advantages, be it KYC updation, request for advances, withdrawals and so forth. Therefore establishing the establish of the beneficiary turns into crucial, and Aadhaar is being insisted upon,” Kasturirangan added.
You’ll lose out on different EPF advantages too in case your Aadhaar particulars aren’t up to date. This consists of taking COVID-19 advances introduced final month and insurance coverage advantages linked to PF accounts. “The linking of PAN and Aadhaar to the underneath is a primary KYC requirement of all banks, PPF accounts and EFP accounts. If this isn’t achieved then as an enforcement measure curiosity credit score and withdrawal claims will face points akin to rejection,” stated Vidisha Krishan, companion at legislation agency MV Kini.
“Employers’ want to make use of this prolonged time to be sure that appropriate communication is distributed to workers advising them of the implications of non-linking, and supply steerage on how the linking will be accomplished,” Kasturirangan talked about.