If you are a salaried employee, some part of your salary goes into a separate Provident Fund (PF) account. About 12 percent of the employee’s basic salary and Dearness Allowance (DA) is contributed towards the Employees’ Provident Fund (EPF).
Once your PF account is opened with the Employees’ Provident Fund Organisation (EPFO), this contribution from your salary is deducted every month. The EPFO also gives the options to account holders to change/make corrections in their PF accounts if there is a mistake clerical or otherwise. The account holder can make corrections such as name, date of birth and other details in the EPFO records online.
Here is how to make changes in a simple way, just in case you don’t know about it. Here are the steps to make corrections in your PF account:
1) You have to visit the official EPFO Unified Portal to make changes in your personal details
2)Log in using Universal Account Number or UAN and password
3) Click on the ‘Manage’ tab that is visible on your Home Page and then select the option ‘Modify Basic Details’.
4) If the details in your verified Aadhaar card are the same then they can’t be edited. If that is not the case, edit the details as per requirement
5) Click on ‘Update Details’ and submit the corrections for approval
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You need to have these four things to make changes in your PF account details viz. active UAN; access to EPFO’s Unified Portal website, Aadhaar number. The employer needs to forward the request online
The Employees’ Provident Fund Organisation (EPFO) is governed under the Employees’ Provident Fund and Miscellaneous Act (1952) and it promotes employee provident fund, which is the main scheme for the salaried employees. Some reports suggest that there are over 19 crore subscriber accounts with the EPFO that also include members who have retired and settled their claims. The contributing members of the EPFO are over five crores at present.
The employee and employer each contribute 12% of the employee’s basic salary and dearness allowance (DA) towards the EPF. Currently, the rate of interest on EPF deposits is 8.65% p.a. This long-term investment scheme offers the institution of provident funds for factory employees and other establishments.