Employee Provident Fund: The Employees’ Provident Fund Organization (EPFO) has sent out a warning to all employees whose PF is being withheld. After numerous frauds perpetrated under the guise of the EPFO surfaced in recent days, this alert was released.
EPFO Alert: If you are also employed, EPFO has issued a warning for you. You don’t have to be a government employee or work for a commercial corporation to do this. Your PF is taken out each month if you are an EPFO member. The Employees’ Provident Fund Organization (EPFO) has sent out a warning to those employees whose PF is being withheld. After numerous frauds perpetrated under the guise of the EPFO surfaced in recent days, this alert was released.
EPFO doesn’t request any private information.
The EPFO has previously sent out alerts of this nature, but in recent days, the number of fraud instances has dramatically increased. It was said by tweeting on behalf of EPFO that EPFO never contacts its members by phone, social media, WhatsApp, or other messaging apps to request personal information such as PAN, Aadhaar, UAN, bank account, or OPT.
Employee Provident Fund, Do not respond to calls or WhatsApp messages.
The EPFO emphasized that it would never request payment through social media, WhatsApp, or any other platform in exchange for information about a service or anything else. All of the members are urged not to answer any such calls or WhatsApp calls in such a scenario.
A two-part deposit is made for the employer’s share.
The EPFO account receives a deposit of 12% of the basic pay and dearness allowance of EPFO members. Similarly to that, the employer must pay 12 percent of the basic income. This twelve percent is split into two sections. 12.3% of the total goes to Employee Pension Accounts (EPS), and the remaining 3.67% goes to Employee Provident Funds (EPF). The employee will receive this sum upon retirement, according to a stipulation. However, you can still remove it if necessary while working.