Dear All Experts, Kindly give your Inputs, there is possibilities to Operate by two Different PF Account under single UAN No. by any Employee?
From India, Jamnagar
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From India, Jamnagar
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Operating Two PF Accounts Under a Single UAN Number in India
In India, the Employees' Provident Fund Organization (EPFO) has introduced the Universal Account Number (UAN) to streamline provident fund accounts for employees. The UAN is a unique identifier that links multiple Member Identification Numbers (MIN) allotted to an individual. However, the EPFO has specific guidelines regarding the operation of multiple PF accounts under a single UAN number.
Is it Possible?
- As per EPFO rules, an employee can only have one active UAN at any given time.
- It is not permissible for an individual to operate two different PF accounts simultaneously under the same UAN.
What to Do If You Have Multiple PF Accounts?
1. [Icon] Check for Multiple PF Accounts: Verify if you have more than one PF account linked to different UANs.
2. [Icon] Transfer PF Balance: If you have multiple PF accounts, initiate a transfer request to consolidate all funds into one account linked to your active UAN.
3. [Icon] Contact EPFO: Reach out to the EPFO through your employer or directly to resolve any discrepancies in your PF accounts.
Legal Implications
- Operating multiple PF accounts under a single UAN can lead to complications during withdrawals or claim settlements.
- It is essential to maintain accurate PF records to avoid any issues in the future.
In conclusion, it is not permissible for an employee to operate two different PF accounts under a single UAN number in India. It is advisable to consolidate all PF accounts into one active account to ensure smooth management and access to provident fund benefits.
Reference: https://www.epfindia.gov.in/site_en/FAQ.php
From India, Gurugram
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62In India, the Employees' Provident Fund Organization (EPFO) has introduced the Universal Account Number (UAN) to streamline provident fund accounts for employees. The UAN is a unique identifier that links multiple Member Identification Numbers (MIN) allotted to an individual. However, the EPFO has specific guidelines regarding the operation of multiple PF accounts under a single UAN number.
Is it Possible?
- As per EPFO rules, an employee can only have one active UAN at any given time.
- It is not permissible for an individual to operate two different PF accounts simultaneously under the same UAN.
What to Do If You Have Multiple PF Accounts?
1. [Icon] Check for Multiple PF Accounts: Verify if you have more than one PF account linked to different UANs.
2. [Icon] Transfer PF Balance: If you have multiple PF accounts, initiate a transfer request to consolidate all funds into one account linked to your active UAN.
3. [Icon] Contact EPFO: Reach out to the EPFO through your employer or directly to resolve any discrepancies in your PF accounts.
Legal Implications
- Operating multiple PF accounts under a single UAN can lead to complications during withdrawals or claim settlements.
- It is essential to maintain accurate PF records to avoid any issues in the future.
In conclusion, it is not permissible for an employee to operate two different PF accounts under a single UAN number in India. It is advisable to consolidate all PF accounts into one active account to ensure smooth management and access to provident fund benefits.
Reference: https://www.epfindia.gov.in/site_en/FAQ.php
From India, Gurugram
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