The Employees' Provident Fund Organization (EPFO) has introduced the Universal Account Number (UAN) to simplify and streamline the management of provident fund accounts for employees. KYC or Know Your Customer activation is a crucial step that enables employees to verify their identity and activate their UAN account.
Activating your EPFO UAN KYC offers several benefits:
1. Gather Required Documents:
2. Online Activation:
3. Offline Activation:
Story 1:
A worker named Ramesh opened a PF account in 2012 but never activated his UAN. When he tried to withdraw his funds 8 years later, he realized that his account was dormant. He had to visit the EPFO office and prove his identity to recover his funds.
Lesson: Activating your UAN is crucial to ensure access to your PF savings.
Story 2:
A woman named Priya received a fake OTP while trying to activate her UAN online. She entered the OTP, which allowed a fraudster to access her account and withdraw her funds.
Lesson: Be vigilant about phishing scams and only enter OTPs received from trusted sources.
Story 3:
A man named Vijay lost his Aadhaar card and PAN card. He was unable to activate his UAN because he could not submit the required documents.
Lesson: Keep your important documents safe and make copies for backup.
Employee Contribution | Employer Contribution |
---|---|
12% of Basic + DA | 12% of Basic + DA |
Optional Voluntary Provident Fund Contribution | 100% Tax Deductible |
12% of Basic + DA | Additional 12% of Basic + DA |
Withdrawal Type | Minimum Service Required |
---|---|
Full Withdrawal | 58 Years of Age |
Partial Withdrawal | 7 Years of Service |
Advance Withdrawal | 2 Years of Service |
Withdrawal Option | Withdrawal Limit |
---|---|
Online Withdrawal | Up to 100% of Available Balance |
Offline Withdrawal | Up to 75% of Available Balance |
EPF Passbook | Up to 50% of Available Balance |
Activate your EPFO UAN KYC today to secure your PF savings and enjoy the benefits of online account management. Follow the step-by-step guide and avoid common mistakes to ensure a hassle-free activation process.
By activating your UAN, you take control of your PF account and pave the way for a financially secure future.
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