1st June 2021 Provident Fund, New Rule

EPFO has taken a big decision regarding Provident Fund. As per the information, the new rule will be applicable on the PF account from June 1, 2021. Now the employer has been given the responsibility to make your account Aadhaar verified.

If they fail to do so can lead to the stoppage of employer contribution credited to your account. Therefore, it is important that you link your PF account with Aadhaar in time. UAN should also be Aadhaar verified

3 Likes

Hi Dinesh,

Thanks for info…any document references is there…pls share.

Regards,
Akila

3 Likes

Sure @Akila

Here is the circular copy.

31052021_LEI_02.pdf (141.7 KB)

2 Likes

Hi Dinesh,

I had received SMS yesterday from PF department on the same and from today this will be in action. In such a short time we will not be able to verify .
My only worry is will we able to pay May-21 contribution if employee Aadhar not verified?

Kindly throw some light on this.

2 Likes

Hi @Arpana

Since the new rule is coming into effect from today, this becomes mandatory for us to do, and there could also be a delay in remittance due to this.

But I feel there should not be more employees in an Org, with this case.

Hi Dinesh,

Yes, but due to name mismatch with PAN and Aadhar , your Aadhar will not be verified. To correct either documents it will take time then in that case how do we pay contribution.

I feel they should have given us some time implement this.

3 Likes

True agreed! Let me see how others are filing this month and keep you posted if any extension or exclusion is given by PF dept.

1 Like

Agreed @Arpana

Let me await any hints that I get on this issue.

Powered by | India's No.1 Payroll and HR Software.
9000+ Clients
150 Cities
10 Lakh+ Users