EPFO New Rules: EPFO has prepared a Standard Operating Procedure (SOP) for all its subscribers. This OSOP has been created for freeze and de-freeze of UAN. A circular was issued by EPFO regarding this. According to the SOP issued by EPFO, now subscribers or foundations will get 14 days extra time to verify the account. Read the full news here…
EPFO New Rules: EPFO takes new steps every day to provide convenience to its subscribers. Recently, EPFO has issued a circular. According to this circular, EPFO is preparing a Standard Operating Procedure (SOP) to freeze and de-freeze UAN (Universal Account Number). Under this SOP, those EPF accounts from which fake transactions or fraud are expected to happen will have to go through the process of verification.
In this process, there are several steps of verification for the account MID, UAN and institutions. Through this verification, it will be ensured whether the amount present in the EPF account is secure or not.
According to the information given by EPFO, now a subscriber or foundation will get an additional 14 days from 30 days for account verification. This means that where earlier 30 days were given for verification, now it can be extended for a further 14 days.
What is EPFO Accounts Freeze? (What is EPFO Accounts Freeze)
According to EPFO, freezing EPF accounts means deactivating several categories. In simple language, it means deactivating some facility of EPF account. EPF accounts freeze includes the following categories.
- Login to the Unified Portal
- Development of a new UAN
- No changes can be made to the Member Profile and Employer DSC
- Any deposit made in MID through Appendix E, VDR Special or VDR Transfer-in
- Claim settlement, fund transfer or withdrawal
- Registration of a new foundation through PAN or GSTN
What is EPFO Accounts Defreeze? ((What is EPFO Accounts Defreeze)
EPFO de-freezing involves freezing the account during verification. It also includes many categories. Verification is required to defreeze the EPFO account.
- Category-A includes identification and contact by the head office for UAN or Foundation.
- Category-B includes any change in profile or KYC.
- Category-C can be submitted through Appendix E, VDR Special, Special 10D, VDR Transfer-in etc. without UAN authority approval.
