EPFO New Rules: EPFO has prepared a Standard Operating Procedure (SOP) for all its subscribers. This OSOP is designed for freezing and de-freezing of UAN. A circular was issued by EPFO regarding this. According to the SOP issued by EPFO, now subscribers or foundations will get additional 14 days 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- UAN). Under this SOP, the 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 many steps of verification for MID, UAN and Institutions for the account. 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 earlier where 30 days were given for verification, now it can be extended for 14 days.
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.
- Logging on the unified portal
- Developing a new UAN
- No changes can be made in 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?
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.
