Ahead of Diwali, the Employees' Provident Fund Organisation (EPFO) is going to credit EPF interest for the financial year 2018-19. The announcement was made by Union Labour Minister Santosh Gangwar, during which he also said that EPFO would now provide an 8.65 per cent interest rate on employees provident fund (EPF) for 2018-19 before Diwali festival.
The Employees' Provident Fund (EPF) is a savings tool for the workforce. It is a scheme managed under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, by the Employees' Provident Fund Organisation (EPFO). Under the EPF scheme, an employee has to pay a certain percentage from his pay and an equal amount is contributed by the employer. The employee gets a lump sum amount (which includes his own and employer's contributions) with interest upon retirement or two months after switching jobs.
But in order to get this benefit, employees need to get UAN (Universal Account Number). However, subscribers who have done the EPFO UAN activation can avail the benefit - means those employees who have got the UAN (Universal Account Number) from their recruiter/employer. If someone doesn't know about, then they must consult its recruiter and ask for the UAN.
In order for individuals to do EPFO UAN activation, it is mandatory that he or she knows its UAN number, Member ID, Aadhaar number, or PAN. Here is a guide to activate EPFO UAN:
Step 1: Log in at unifiedportal-mem.epfindia.gov.in/memberinterface/;
Step 2: Click at ‘Activate UAN’;
Step 3: Enter your UAN, Member ID, Aadhaar number, or PAN;
Step 4: Fill-up the form with required details like details such as name, date of birth, mobile number, email ID, and captcha;
Step 5: Enter the captcha code in the given space and click on “Get Authorization Pin”.
You will receive a PIN on your mobile number.
Step 6: Under the “Disclaimer” section, tick on the “Agree” checkbox and enter the OTP that you received on your mobile number. Click on the “Validate OTP and Activate UAN”.
Step 7: After completing the process, your UAN is activated and a password is sent to your registered mobile number which can be used to access your PF account.
