If you have just started your first job, then you need to take care of the things related to the Employees Provident Fund Organization, i.e., EPFO , immediately. This will keep your job running without any interruption or hassle. There are some things related to the EPF account that you should pay attention to as soon as you join the job. So let’s know what you should do.
Check whether the company is under the purview of EPFO or not
Whenever you join a job, first of all, check whether the company comes under EPFO or not, and whether you will get the benefit of EPF or not. This is the first and most important step for your financial security.
If the salary is up to ₹ 15,000, then joining PF is mandatory
If the EPF Act applies to the company and your salary is up to ₹ 15,000, then you will be compulsorily made a member of the EPF, EDLI, and Pension Scheme. This rule ensures your future security.
If your salary is more than ₹15,000, then the employer’s consent is necessary
If your salary is more than ₹15,000, then you can become a member of EPF with the consent of the employer. Take a wise decision according to your financial planning.
Ask for Form 11 from HR and fill it in carefully
Ask for Form 11 from your HR and fill it carefully. All details should match with Aadhaar and other documents, there should be no spelling mistake. This form is the foundation of your PF account, so fill it carefully.
Do not forget to attach these documents to Form 11
Attach a copy of the Aadhaar card, PAN card, and bank passbook with Form 11. Enter the same mobile number that is linked to Aadhaar. This will help in completing your KYC.
UAN will be available only after Aadhaar verification
Your Universal Account Number (UAN) will be generated only after verification with Aadhaar data. The name spelling in the bank account should also be the same as Aadhaar. It is important to provide correct bank account details so that your EPF money can be deposited safely into your account. PAN number is important for income tax compliance, so make sure to enter it too.
Activate UAN and check KYC
After submitting Form 11 to the employer, the employer will generate your UAN number and member ID, after which your EPF will be deposited. You must get your EPF member ID and UAN from your HR and activate it by visiting the EPFO website www.epfindia.gov.in. After this, log in to the member portal and check your KYC carefully. Also, check if there is any mistake in your joining date. If there is any mistake, get it corrected through the joint declaration process.
Check the passbook every month
You can check your passbook every month by visiting the member portal and make sure that your EPF is being deposited. By the way, EPFO also sends an SMS to your registered mobile number when EPF is deposited. For the resolution of any problem, you can contact your HR, and if necessary, you can also register your complaint on EPF IGMS.
What will happen if you change jobs after the first job
Know, whenever you change your job after the first job, your new employer will generate your new member ID on the same UAN and the contribution will be deposited in it. Only one UAN is issued to an EPFO member, while the member ID changes when the company changes.
All PF services will be available in one place
Every EPFO member should download the Umang app of the Government of India on their registered mobile, because in this app, you will get all the services of EPF. This app is a powerful tool to manage your PF account.