Sebi Asks Investors To Link PAN With Aadhaar By Sep-End For Smooth Transactions

After the Aadhaar quantity is seeded with the Universal Account Number (UAN), staff can withdraw and switch Provident Fund (PF) extra merely. Employers can submit digital challan-cum-returns (ECR) to the Employees’ Provident Fund Organisation (EPFO) regularly, containing worker info.

Employees who’ve had their Aadhaar numbers seeded with the UAN are wanted to finish an ECR.

The new rule was meant to take impact on June 1, 2021, however it was postponed till September 1, 2021. The deadline to hyperlink your UAN to your Aadhaar card has been

prolonged to December 31.

In mild of the challenges confronted by employers and staff in expediting Aadhaar in UANs, significantly in mild of corrections required in Aadhaar information of staff within the aftermath of the second wave of Pandemic, the EPFO has prolonged the time for necessary seeding of Aadhaar in UAN for submitting ECR till September 1, 2021, with the prior approval of the Central Government.

According to EPFO, requests for a time extension past September 1, 2021, have been reviewed, and it needs to be famous that whereas Aadhaar seeding is current in roughly 94 per cent of contributing EPF members’ UANs, the proportion of contributory members’ UANs with Aadhaar seeding is decrease.

According to the present EPFO round, the next has been determined: The deadline for necessary seeding of Aadhaar in UAN for submitting ECR has been prolonged till December 31, 2021, attributable to low Aadhaar penetration in EPFO’s administrative zone of the North East Region, which incorporates the states of Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura.

In the Classes of companies: Beedi making, Building and Construction, and Plantation Industries making an allowance for the focus of institutions in distant areas and insurgency-affected areas, frequent modifications in employees’ work websites, and different attendant constraints.

The deadline for necessary seeding of Aadhaar in UAN for submitting ECR has been prolonged till December 31, 2021, for pepper, jute, rubber, cinnamon, cashew nuts, and different crops.

Failure to file ECRs in respect of EPF members just for the wage months of August and September 2021 as a result of non-seeding of Aadhaar in UANs shouldn’t be construed as an employer’s default for the needs of levying penal damages underneath part 14B of the EPF & MP Act, 1952 for areas and industries or lessons of institutions apart from these listed above.

Keep an eye fixed on the state of affairs and get in touch with the employer if the seeding continues to be lacking after submitting the paperwork for just a few days. Your agency can be unable to speak and replace EPFO about your pay and PF info if they don’t seem to be seeded.

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