Taxable and Non-taxable EPF Interest

The updated Form 13 on the EPF website now clearly shows the taxable and non-taxable parts of your PF savings. This will help calculate the correct TDS on taxable PF interest and make tax filing easier for both EPFO and its members.

Impact on EPF Members and Fund Transfers

The revised EPF account transfer process is expected to assist over 1.25 crore EPFO members. With this new system, EPFO plans to smoothly transfer around Rs 90,000 crore in PF funds every year, cutting down delays and complaints. EPFO had issued a circular about this earlier, but the process wasn’t working on the Member Sewa website. Now, with the introduction of the revised Form 13, this feature is active on the official website of EPFO.

Bulk UAN Creation for Specific Situations Without Aadhaar

The introduced facility by the EPFO on its official website has enabled bulk creation of UANs without the need for Aadhaar linkage in specific scenarios. The step is necessary for the following:

• Members linked to Exempted PF Trusts that have either given up their exemption or had it cancelled.
  
• Cases where old PF savings are being sent to EPFO due to recovery actions or legal proceedings.
• Employers can now create UANs using existing Member IDs and other details, even without Aadhaar, so that old contributions can be quickly credited to the correct accounts.