If you are working in the corporate sector, you would be familiar with the EPF Scheme. The EPF scheme is managed by the EPFO or the Employees' Provident Fund Organization. Any Organization which has more than 20 employees comes under the gambit of the EPFO.
You have to make a certain contribution to the EPF Scheme and your employer makes an equal contribution. You get a lump sum amount which includes your and employers contribution, where interest is paid on the total contribution on retirement.
EPF Interest: You get EPF interest of 8.65% a year. This is the highest from any fixed income scheme.
The UAN or Universal Account Number is a number allotted by EPFO. UAN is compulsory for employees. It also helps in managing the EPF account and facilitates easy PF withdrawals and transfers. The employer gives the UAN and the employee gets it activated after relevant KYC documentation.
If you are changing jobs and already have a UAN, you don’t need a new UAN. This is a one-time number which remains constant across career.
EPFO has been warning members on the website and even the social media handles regarding fake phone calls. It has been advising people not to share personal details like PAN, Aadhaar, bank account or EPF account details like Universal Account Number (UAN).
IamCheated.com had warned you against sharing bank details and passwords with anyone over the phone. Now, EPFO has asked you not to share details with anyone over the phone. You would find this prominently displayed on the EPFO website; www.epfindia.gov.in.
EPFO has not given authority to any third-party authority to carry out procedures on its behalf. However, many people have fallen prey to fraudsters and disclosed private confidential information over the phone.
EPFO has on its Twitter handle asked you not to respond to any fake offers by websites, SMS, emails, tele calls and social media asking you to deposit money into bank accounts towards advance, claim settlement, higher pension or any other service offered by EPFO.
The fraudsters pose as EPFO officials and ask you and other EPF subscribers to share EPF account details. They could also ask you to deposit a certain amount to claim the EPF money.
Fraudsters call employees who have made claims online and ask for money to process claims. Fraudsters know that the EPFO allows you/subscribers to file withdrawal claims online to collect the money. Fraudsters use lots of innovative methods like calling/posing as EPFO officials or even by sending phishing emails to lure and cheat the EPF account holders.
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