National pension scheme account

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How to open nps account

• BY epfbalancestatus.co.in

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The One Employee-One NPS account account is a
scheme launched to enable employees to
consolidate their old PF accounts. On 1st May
2016, the NPFO has launched new facility
honouring the labour day. The new facility of One
Employee-One account will help employees to
consolidate all the past PF accounts. Employees
can do this by transferring their PF money from
the previous PF accounts to the current EPF
account which is linked to UAN.
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The new scheme will not only consolidate the PF
accounts but will also make life easy for
employees with multiple PF accounts. Out of the
150 million PF accounts, only 40 million accounts
are active. Around 90 million accounts are
inoperative PF accounts and balance are just on
the verge of being inoperative. Employees
provident fund is a long term economic security
scheme.
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Employees need to hold a single account that can
be kept active until retirement. The scheme of
one employee-one time will also help NPFO to
de-duplicate the multiple EPF accounts. A lots of
hassles will be eliminated for the NPFO
authorities as well employees.
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The centralization of the PF accounts will solve
all these problems for the PF offices. Once this
scheme is implemented, the accounts will be
centralized. Employees will not need to transfer
their accounts every time they change job. This
scheme will centralize all the EPF payment online
offices across country.
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First of all, you need to activate UAN. This
means linking your PF with the UAN. Along with a
UAN number which is with lifetime validity, you
will also get a alphanumeric PF number. The first
two entries will indicate the regional PF office.
The next entries will be the employers code and
employees account number.
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Visit epfindia.com and go to the employees
section under services option. You will find
option of one employee-one PF account at the
bottom. Type your UAN number, registered mobile
number, and PF account number..
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You will get a onetime password. Once you fill up
all the information and submit, all your details
and PF account number will go to the regional PF
offices. Just inform your UAN whenever you change
job instead of transferring account
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THANK YOU

• BY epfbalancestatus.co.in