EPF update: EPFO says bank account seeding with UAN would help managing in EPF contributions; check details

The Employee Provident Fund Organisation (EPFO) emphasizes the importance of linking your bank account to your Universal Account Number (UAN) for quick access to your EPF balance, seamless transfers, and easy withdrawals. Ensuring that your UAN is seeded with your bank account is vital for the effective management of Employees' Provident Fund (EPF) contributions and transactions.

In response to the need for employees to avail benefits under the Employment Linked Incentive (ELI) Scheme introduced in the Union Budget 2024, EPFO has extended the deadline for activating Universal Account Numbers (UAN) and linking Aadhaar with bank accounts to January 15, 2025. Originally set for November 30, 2024, this deadline extension aims to promote maximum compliance among employees.

On social media platform X, EPFO wrote: “Bank Account Seeding with UAN simplifies managing your EPF contributions and transactions! By linking your bank account to your Universal Account Number (UAN), you ensure seamless transfers, easy withdrawals, and quick access to your EPF balance.”

By linking your bank account to your UAN, you can ensure that your monthly EPF contributions are smoothly deposited into your account, giving you easy and instant access to your funds. This seamless process also makes it easier for withdrawals and transfers of EPF balances, especially during job changes or retirement.

Additionally, seeding your bank account enhances accessibility and transparency while helping you maintain compliance with Know Your Customer (KYC) regulations. This added layer of security minimizes the risk of fraud or unauthorised withdrawals, providing peace of mind for your financial transactions.

The UAN is a 12-digit number assigned to every EPFO member, serving as a central identifier for all Member IDs associated with an individual. This unique number serves as a key link between various Member Identification Numbers (Member IDs) assigned to a single member within a Universal Account Number. 

To activate your UAN online as a new EPF member, please follow these steps:

Go to the EPFO Member Sewa portal.
Click on the 'Activate UAN' link located under 'Important Links.'
Enter necessary details such as UAN, Aadhaar number, date of birth, and Aadhaar-linked mobile number.
Consent to Aadhaar OTP verification and request the authorisation PIN.
Input the OTP received on your registered mobile number to finalise the activation process.