PF Update: EPFO warns PF account holders against online frauds; Here’s how to stay safe

New Delhi: The Employees' Provident Fund Organization (EPFO) published a caution on its social media pages warning its members about internet frauds and scams. EPFO has asked members not to share any information about their PF account over the phone or on social media, even if the other party pretends to be a representative of the organisation. EPFO stated that it never requests personal information such as Aadhaar, PAN, UAN, Bank Account, or OTP over the phone, WhatsApp, or social media.

The EPFO encouraged PF account holders not to reply to calls demanding personal information, stating that it never requires them to deposit money in order to use its services.

https://twitter.com/socialepfo/status/1451801813645156356?s=20

Account holders should contact EPFO via https://epfigms.gov.in or call the toll-free number 1800-118-005 for more information and grievance redressal. EPFO members can use the UMANG app, a government-run platform, to look for information on connected services. 

By disclosing personal information, hackers may be able to get access to your EPF account and jeopardise its security. Several recent examples of fraud have been recorded, in which hackers accessed the fraud victim's PF account and withdrew the sum without their knowledge. People who have recently changed jobs and have yet to transfer their EPF account to the new employer are more vulnerable to cyber-attacks.

During the shutdown last year, the number of such EPFO phishing assaults and bank frauds increased. Several rackets involved in such schemes were busted by law enforcement officials.

You can report such calls to EPFO or other law enforcement organisations if you have an EPFO account.

The EPFO's Employee Provident Fund scheme is one of the world's largest social security plans. Every company with 20 or more employees is subject to the EPFO system. Under this programme, employees earning more than Rs 15,000 per month must contribute a portion of their salary (12%) to the EPF account, with the employer contributing the same amount. At the time of retirement, the employee receives an accumulated quantity of money from his EPFO account, as well as any appropriate interest. There are other options to take this money out before it matures.