As August comes to a close, the month of September brings new changes with it. From Aadhaar to the bank, to the price of LPG cooking gas, there are quite a few changes that will take effect as of next month. These new rules and implementations will be affecting your day-to-day life as well as changing the landscape of the economy somewhat. Here are the top five changes you need to immediately take note of for the following month.
Aadhaar-PF Linking Made Mandatory
Starting from the beginning of September, employers will only be able to deposit money into your provident fund (PF) account if your universal account number (UAN) is linked to the Aadhaar card. Additionally, you will only be able to reap the full range of benefits if you complete this linking process. Without the linking of these two elements, neither the employer’s or employee’s contributions will be deposited into the PF account
The Employees’ Provident Fund Organization (EPFO) has amended Section 142 of the Code of Social Security 2020. This will impact several benefits, including contributions towards your pension fund. Make sure to complete the linking before September 1, 2021.