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EPFO Big Update: The Employees’ Provident Fund Organisation (EPFO) has made a big change in its rules, which is very important news for employed people. If you have a PF account, then this information is special for you.
From now on, if you change jobs, you will not get a new Universal Account Number (UAN).
Your old UAN will work throughout your entire employment life. Moreover, now UAN will not be issued without Face Authentication Technology (FAT). These rules have been brought in to make work easier for employees and prevent fraud. Let’s understand it in simple terms.
Only one UAN will be used.
Earlier, when an employee changed jobs, he sometimes got a new UAN in the new company. Due to this, his PF money and records were not in one place. Sometimes there was a problem in linking the old and new accounts. Now EPFO has made it clear that an employee will have only one UAN, which will be used throughout his professional life. This will make it easier to transfer PF money, take pension and other things. All your records will be linked to the same UAN, so there will be no confusion.
The information will be entered into the scan system.
Now let’s talk about FAT. EPFO has made face authentication technology mandatory to make UAN more secure. Earlier, only Aadhaar or KYC was enough, but now it will not be the case. Now to generate UAN, your face will be scanned through the Umang app. This scan will be recorded in the system, so that no fake account can be created. This will also end the problem of duplicate UAN. This step has been taken so that there is no error in the PF system and the data remains completely correct.
Many advantages of the new rule
This new rule will benefit the employees a lot. The biggest advantage is that all your PF records will be at one place. There will be no problem in transferring PF on changing jobs. In future, when you want to withdraw pension or PF money, you will not need to do paperwork or find old records. Also, it will become easier for companies and the government to manage the PF system.
However, the impact of this rule is visible immediately. According to reports, in just two days, the employment process of more than a thousand people was stopped because their FAT verification could not be done. This clearly shows that it will now be difficult to get a UAN without scanning the face. Overall, these changes are beneficial for employees in the long run, but there may be some problems initially. If you are employed, get your UAN and FAT verification done quickly, so that there are no problems in the future.
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