In this article, we will take a look at the procedure for linking your EPF account with your PAN.
Introduction
EPF stands for Employee Provident Fund. As the name suggests, it is a fund for non-pensionable employees to put aside a part of their monthly savings for the purpose of their retirement. Ensuring that the retired population of the country is not dependent on the workforce is always beneficial for the economy as it improves the per capita purchasing power and hence spurs the demand and supply in the country. But since it is a voluntary service and not a mandatory one, the government has incentivised the scheme by offering tax deductions and exemptions at various stages of the scheme. But in order to ensure that the scheme is not being misused or swindled in any manner, certain controls and steps have to be put in place.
The government has made it mandatory to link the PAN card with the EPF account. To facilitate such linking, the Employees’ Provident Fund Organisation has made the process easier by facilitating the linking process online. Users can now link their PAN and EPF by updating their KYC details and completing the process online. Having accurate KYC details is mandatory if individuals wish to make online claims without any hassles. Let us now take a look at how individuals can link their PAN card with their EPF account.
Linking PAN With EPF Account Online
Given below are steps to Link PAN Card With EPF Account by online means-
- First and foremost, users must visit the EPFO e-Seva portal.
- Users must then log onto the portal using their credentials, which include their UAN and password.
- Next, they must enter the CAPTCHA code and click on Sign-in.
- From the homepage, users should navigate to the Manage tab and click on the KYC option.
- This will take users to a new page from where they can Add KYC details. Go to the Document Type tab to find a list of documents.
- Choose the option PAN from this list and enter your PAN and full name to proceed.
- Next, users should click on the Save button.
If the details provided match, then your PAN card will be verified automatically. After verification, your PAN and EPF Accounts will be linked, and the change will reflect in the homepage, under the Member Profile tab. In case the details do not match, the linking will not be successful, and you will have to update the details before trying again.
Users will not be able to claim any PF unless they complete this process. Also, without such a linking all deposits exceeding the threshold of INR 50,000 will attract a TDS return at 35%, as against the regular rate of TDS which is 10% for accounts linked with PAN.
How to Link PAN card to EPF Account Offline?
Given below are steps to Link PAN Card With EPF Account by offline means-
- Users must visit their nearest EPFO office to complete the EPF-PAN linking process.
- Once they reach the office, they must ask the executive for an EPF-PAN linking form.
- Duly fill the form with details such as your Permanent Account Number, UAN number and full name.
- Users must submit this form along with a self-attested copy of their PAN card and UAN.
- After verification by the executives, your PAN card and EPF Account will be linked. Once the process is complete, you will receive a notification regarding the same on your registered mobile number.
In case the details on your PAN card and EPF account don’t match, you will need to get either of them updated. If the request gets rejected even after all details matching, you may file a complaint by visiting the EPF grievance portal.
Conclusion
In today’s consumerist culture, it has become hard to look beyond the deductions that take place on a monthly basis from your salary as it leaves lesser disposable income on hand. But one needs to be reminded of the uncertainties of life, especially when it comes to a job where one can lose their job for no fault of theirs but simply due to unfavourable economic conditions. It is during these times that the EPF comes in handy apart from the support it provides on retirement. So it is always wise to not only make your monthly contributions to the EPF account but also to keep it updated according to government guidelines as all the policies are framed keeping the general welfare of the beneficiaries in mind.
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