EPFO Update: Subscribers will soon get relief from the problems faced by them in withdrawing their hard-earned money deposited in EPFO.
The Employee Provident Fund Organization is upgrading its software under which accounting will be possible through the UAN (Universal Account Number) number of the EPFO member in the new software module and the claim settlement process can be simplified. Due to the new software, the system of one member one account can be implemented, which will get rid of the problems in claim settlement from the Provident Fund.
Withdrawing money from Provident Fund will be easy!
Employee Provident Fund Organization is working fast on CITES 2.01 project. Under this project, EPFO is upgrading its hardware as well as software. New operating system is being deployed in CITES 2.01 project. This will help in simplifying the claim settlement process and subscribers will get relief from the problems in withdrawing their money from EPFO. According to EPFO, after the software is upgraded, accounting can be done through UAN number. Due to which a system of one member, one account will be created. Due to the new software, it will be easy to settle the claim.
Critical Information!
Employees are not required to generate a new UAN when leaving their old employment. A member cannot have more than one UAN. There is no requirement for having a fresh UAN at all, in any case of unemployment or change of employment@mygovindia @PMOIndia…
— EPFO (@socialepfo) November 27, 2024
One member must have one UAN number
Actually, the Employee Provident Fund Organization issues a UAN (Universal Account Number) number to each of its members. EPFO has always been advising its subscribers not to apply for a new UAN number when they change jobs because a member should have only one UAN number.
Problem in settlement with two UAN
If an employee has two UAN numbers, then he is advised to merge the new number with the old UAN number. Due to any employee having two UAN numbers, subscribers face difficulties in settlement of Provident Fund claims and the claim is rejected. Recently, EPFO has asked subscribers through a social media post not to generate a new UAN number after joining a new place after changing jobs. A member cannot have more than one UAN number.
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